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,…

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…

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…

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…

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…

British Research Firm Bullish on RP Vehicle Mart

PHILIPPINE auto sales may grow at a rate that is higher than what the local industry expects, according to a new study by the Business Monitor International Ltd.

The study also indicated that the relatively unserved market segments would boost growth prospects for 2009.

The London-based market research firm said sales could grow by 8 percent, to…

Kia Carens Bags Auto of the Year Award

In what may turn out to be Kia’s winningest year in the Philippines, the Kia Carens romped to victory with the much-coveted Automobile of the Year award in the Petron 2008 Auto Focus People’s Choice Awards held at the Valle Verde Country Club last Dec. 5.

The Kia Carens, fresh from this year’s pick by the…

Chrysler, Ford Shut Down Plants; GM Delays Major Factory Project

Chrysler is closing all its North American manufacturing plants for at least a month, the starkest move yet taken by US automakers as they anxiously await word about government loans.

The shutdown comes as The Wall Street Journal reported that Chrysler has restarted talks with General Motors about combining the two ailing automakers.

Chrysler, GM and Ford…

2009 Honda City Rolls Off Production in RP

The much-anticipated 2009 Honda City recently rolled off the assembly line at the manufacturing plant of Honda Cars Philippines, Inc. (HCPI) in Sta. Rosa, Laguna.

The third-generation Honda City will be sold in the local market starting on the first quarter of 2009.

“Proud to be Philippine-made, the production of City is a testament to Honda’s long-term…

Mitsubishi Philippines to Launch 4 Models in 2009

Despite the uncertainties in the local automotive market, the country’s second biggest car assembler Mitsubishi Motors Philippines Corp. will continue to perk up the market with the launch of four net models next year.

Froilan Dytianquin, Mitsubishi Motors Philippines Corp. assistant vice-president for marketing services, revealed this to reporters even as…