The auto industry recorded a 14.8-percent sales increase  during the first four months of this year due to a  continued strong demand for commercial vehicles.

“The Philippine auto industry thus far, is bucking the general trend seen in other countries such as the US, where rising fuel prices   coupled with a softening economy resulted in a downward trend in   commercial vehicle sales,” Elizabeth H. Lee, president of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) said.

From January to April, auto sales reached 39,981 units of which 11,078 units were sold in April alone.

Commercial vehicles continue to dominate the local market covering 66 percent of total vehicle sales nationwide.

The Toyota Group has increased its over P20 billion investment in the country as one of its members, Tokai Rika Philippines Inc.(TRP), expanded its production facility and doubled its investment.

“As we increase our production, our suppliers will naturally follow suit,” TMP vice president Rommel Gutierrez told The STAR in an interview.

According to Gutierrez, TRP’s investment is expected to reach P1.2 billion as the company announced it will expand its production facility at its plant inside  the Toyota Industrial Complex in Sta. Rosa, Laguna.

TRP’s new investment will require a total of 5,600 square meters of plant facilities expansion.  The expected completion date of the new building is by November this year.

All-New Honda Accord - An Experience Beyond Power

Honda Cars Philippines, Inc. (HCPI) announced the arrival of the all-new 8th Generation Honda Accord in a luxurious setting inside the posh Hotel Sofitel (formerly, Westin Philippine Plaza). Featuring a bigger body shell and revolutionary technologies, the 8th generation Accord debuts in Honda showrooms nationwide beginning March 12, 2008.

"We aim to set the bar and further establish the standard in the luxury sedan segment. With its aggressive styling, powerful over-all performance and breakthrough technology, the new Accord takes up as an embodiment of luxury, comfort, power and prestige for which Honda has been known for," said Mr. Hiroshi Shimizu, HCPI‘s president and general manager.

The auto industry continued to post strong sales figures this year as it chalked up double-digit growth in the first two months.

A joint report by the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines (CAMPI) showed that their combined January and February sales went up 14.3 percent compared with the same period a year ago.

Honda Cars Philippines, Inc. is set to introduce a new engine technology that goes beyond power. Arriving in the All-New V6 Honda Accord is the i-VTEC (Intelligent Variable Valve Timing and Electronic Lift Control) engine equipped with Variable Cylinder Management (VCM), a new generation of fuel-efficient technology.