Auto Industry Keeps Modest Forecast for 2009

After major foreign auto markets experienced large-scale downturn due to recessions caused by the recent global economic crisis, the Philippine auto sector remained cautiously optimistic projecting a two percent conservative growth prospect for next year.

Chamber of Automotive Manufacturers of the Philippines Inc. president Elizabeth H. Lee told The FREEMAN in a statement that they are forecasting only a two percent uptick from 2008 as they are looking at huge possibilities for downturn.

“Growth prospects will slow down; however, it is nonetheless a growth. The conservative growth is dependent on a stable financing environment and relatively strong remittance inflow.  It is hoped that the worst case scenario for the industry is a flat growth but this would still be relatively better compared to the devastating effects of the global turndown on the US auto market,” Lee’s statement reads. Read the story »

Philippine Star Motoring Picks 2008

By Manny N. De Los Reyes, James Deakin, Lester Dizon, Andy Leuterio and Dong Magsajo, Philippine Star Motoring Staff

It’s that time of year again. On the last Wednesday of every year, we the Business Motoring Section staff, come up with our respective lists of the best releases of the year. We keep it down to 10 choices each, just to make the list manageable, then compile them all in one huge article. The process is simple. Each picks his 10 favorites – without restrictions (i.e. – pricing, specifications, etc.). We then justify our choices in a few sentences. The model (or models) with the most number of votes is declared the Star Pick of the Year. But while the process may be simple, the sheer volume of vehicles that made it to Philippine shores this year is quite staggering (well, considering the kind of variety we’re used to). As such, it literally became a headache picking out the models each deemed worthy.

Still, there are some cars that make such convincing cases that they got all five very diverse contributors to the list to give their nod. Ladies and gentlemen, here are our favorites for 2008. We had a blast discovering, driving, scrutinizing and eventually picking them. Read on and find out if our favorites agree with yours… Read the story »

The Year That Was: Local Auto Industry’s Growth Slows in 2008

A government bailout for the Big Three US automakers, the world’s leading carmaker Toyota suffering its first loss in 70 years, and weak sales in the European market. With big players in mature markets in trouble as a result of the slowdown in the world economy, is the Philippine auto industry not far behind?

For 2008, industry insiders are already predicting auto sales to grow much slower than the 18-percent expansion last year, decelerating further to single-digit rate in 2009.

The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the umbrella group of the country’s leading motor vehicle assemblers, however, says the local industry is better off than the American and European markets because growth, albeit small, is still expected. Read the story »

Tight Car Financing Seen in 2009

The global financial meltdown is expected to affect significantly the sales of entry-level vehicles, bulk of which are financed by bank loans.

“The impact of the crisis is on the entry-level vehicles because banks are already starting to implement more stringent rules in car financing,” Froilan Dytianquin, assistant vice president for marketing of Mitsubishi Motors Philippines Corp., told reporters.

Entry-level cars are those with price tags of P600,000 or less apiece. Read the story »

Toyota Tops After-Sales Customer-Satisfaction Study

Toyota Motor Phils. (TMP) ranked number one in customer satisfaction with regards to after-sales service in authorized dealerships, according to the J.D. Power Asia-Pacific 2008 Philippines Customer Satisfaction Index (CSI) study that was conducted in September.

J.D. Power Asia-Pacific General Manager for Philippines Taku Kimoto presented the award to TMP President Hiroshi Ito during the company’s customer service committee meeting held on November 28, TMP revealed in a statement.

TMP scored 843 points, six points above industry average. Read the story »

Unioil to Put Up More Retail Stations

Unioil Philippines Inc. is investing up to P160 million next year to put up at least eight new retail stations in Metro Manila and nearby provinces.

Chito Medina-Cue Jr. told reporters over the weekend that they have already identified the areas for the new gas networks.

Cue admitted that they will be more aggressive next year despite the financial crunch.

“Unioil constructed only two stations this year. But we will continue to invest more. Our customers want us to set up more stations,” he said. Read the story »

Mitsubishi Zooms Back to Second Spot as Parent Company Ails

Mitsubishi Motors Philippines Inc. has managed to claw back to the number two spot in the local automotive industry after being relegated to the fourth by the other Japanese carmakers in 2006 and 2007.

Its sales feat becomes more spectacular as its mother company in Tokyo has been battling $1.3 billion in losses and has to lay off 1,100 contractual workers.

Mitsubishi officials said the local outfit remained in the black after cutting its workforce by 76 percent—from 3,000 to 700— since 2003, but declined to release estimates until the official figures were out.

As of Nov. 30, Mitsubishi has sold 15,984 units for a 19.6-percent annual growth, capturing 14 percent of the local market. Toyota remained on top with sales of 41,997 units for an 8-percent growth rate and a 33-percent market share, according to figures from the Car Manufacturers of the Philippines Inc. Read the story »

More Philippine Automotive News

• Kia Carens Bags Auto of the Year Award
• Chrysler, Ford Shut Down Plants; GM Delays Major Factory Project
• Mitsubishi Philippines to Launch 4 Models in 2009
• Heat Wave in December 2008 Photos and Video
• Isuzu Philippines Won’t Expand, May Raise Prices in 2009
• CAMPI: Philippine Auto Sales up 8.3% in First 11 months
• Ford Lays Off 30 Executives In Philippines
• Philippines-Built Mazda 3 Scores Back-to-Back Wins in Thailand Quality Tests
• Honda Brings Holiday Cheers with Exclusive Year-End Promo
• Local Kia Distributor Receives Awards