Car companies are optimistic on the sustained growth of the local vehicle market with 500,000-unit sales on their radar by 2020 or even earlier.
Chamber of Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president lawyer Rommel Rodriquez said during the September 2 press conference of the organization held at the Marriot Hotel in Pasay City that car sales for the first six months of the year reached 167,481 units, which is already half of the 370,000 units targeted this year.
CAMPI will be holding the biennial Philippine International Motor Show (PIMS) from September 14-18, 2016 at the World Trade Center Metro Manila, Pasay City.
“CAMPI has Vision 2020 and reaching 500,000 unit sales in the next two years is possible,” Gutierrez said.
The 500,000-unit sales includes the sales that will be registered by the Association of Vehicle Importers and Distributors Inc. About 85 percent of domestic car sales are accounted by CAMPI.
Although CAMPI sees vehicle sales hitting 500,000 units by 2020 under Vision 2020, Gutierrez said that sales target can be attained years earlier, citing that the 300,000-unit sales was originally targeted by the organization in 2018 but was reached in 2015.
Gutierrez, also a vice-president at Toyota Motor Philippines Corporation (TMP), said the local car industry is a major contributor to the country’s economic growth.
“The car industry accounts for 12 percent of industrial output and 4 percent of GDP [gross domestic product],” he said.
On the effect of increasing car sales on traffic, the CAMPI president said “automobiles represent freedom and economic growth.”
Gutierrez said that the motorization trend in the country started in 2012 when the country’s per capita GDP reached $2,500.
CAMPI, however, is optimistic that the infrastructure projects, both undergoing completion and the new ones, will help ease the traffic problem in Metro Manila.
Also, car firms are gradually expanding their presence outside of Metro Manila, like the growth centers of Cebu City, Iloilo City, Cagayan de Oro City, Central Luzon and Northern Luzon.
Better motor show
CAMPI promises the 6th PIMS will be better than the previous shows held.
With the theme “Steer the Future,” the latest staging of the PIMS will also feature vehicles that boast of green technologies like hybrids and electric vehicles.
“The public can expect a better motor show this year,” said Dante Santos, vice-president of CAMPI and first vice-president of Mitsubishi Motors Philippines Corporation.
However, Santos said there are no plans to make the PIMS an annual event.
Although the CAMPI started off as an organization made up mostly of Japanese car makers, its ranks now counts brands from South Korea and China.
George Chua, who represents Chinese brand BAIC in the organization and is the president of the Federation of Philippine Industries, said being a member of CAMPI has allowed Chinese car firms to generate a following.
“We have the opportunity to participate in PIMS and this has allowed Chinese brands to improve [their exposure],” he added.
Besides vehicle displays, car firms participating in the 6th PIMS will also unveil their new models and allow visitors to test drive their best-sellers.