GM’s Woes To Have No Direct Impact on RP, Asean Units

The dramatically changing global landscape and economic conditions have created the urgent need, and the opportunity, for GM Corp. to reinvent both the car and the company. “All of our key stakeholders — US and global governments, taxpayers, unions, employees, retirees, suppliers, partners and dealers – are playing a vital role in our reinvention,”…

Local Car Firms Ask Government to Lower Excise Tax

The local auto industry is asking the government to help local car manufacturers by lowering excise taxes, making permanent investment incentives and buying locally assembled vehicles.

In a press briefing on Thursday, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president Elizabeth H. Lee said there is a need to strengthen the completely knocked down…

RP Auto Industry Posts 6% Growth in 2008, But Job Losses Feared

Inspite of the global economic slowdown, the local auto industry’s total sales posted a six percent growth in 2008.

Data released by the local industry association, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), showed that a total of…

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…

CAMPI: Philippine Auto Sales up 8.3% in First 11 months

Automotive sales went up by 8.3 percent to 114,564 units in the first 11 months of this year from 105.771 units in the same period last year despite a 7.7-percent drop in the November sales performance.

“The Philippine auto industry’s year to date growth rate is a…

CAMPI: Automotive Industry Seen to Grow 2-4% in 2009

The local auto industry is expected to grow by a slower rate next year due to the global economic downturn.

“For next year, growth maybe between two and four percent, down from this year’s 10-percent growth,” CAMPI president Elizabeth Lee said.

According to Lee, the local industry is better off than other countries which has been besieged by…

Korean Car Distributor Granted Regulatory Approval

Korean automobile distributor Hyundai Asia Resources, Inc. (HARI) received regulatory approval on Wednesday to hike its capital fourfold to P1 billion.

British Virgin Islands firm Kibo Holdings Ltd., which owns half of HARI, increased its stake in the company by subscribing…

Chinese Car Manufacturer to Invest $1B in RP

A Chinese car manufacturer is planning to invest $1 billion for an assembly plant in the country.

“We are already in serious negotiations with the manufacturer. They have expressed genuine interest in putting money here,” Francis Chua special envoy for Chinese investment and trade told The Star in an interview.

According to Chua, the slowdown in…

Car Firms Expect Flat Growth in 2009 as Crisis Hits

The Philippine car industry expects sales to slow next year as a result of a global economic downturn which threatens to cut consumer spending, especially among families dependent on relatives working abroad.

But for the moment, the Chamber of Auto Manufacturers of the Philippines, Inc. (CAMPI)…

RP Can Still Catch Up as Auto Production Hub for ASEAN

The Philippines can still catch on with its dream of becoming an automotive manufacturing hub in the region because Thailand cannot fully serve the requirements of a region with 600 million population and a faster growing economy.

Ford Group Philippines Chairman Henry Co said this in his presentation during a Local Government…