The Philippines has outperformed its counterparts in Southeast Asia in automotive sales as of the first half of the year but the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) said target for the year stays.
An industry official, however, said the sector continues to grapple with hurdles posed by limited manufacturing support, high taxation, and regulatory constraints.
Campi has set a target of a 9-percent growth in sales to 468,300 units in 2024 from 429,807 units last year. On the optimistic side, Campi hopes to reach 500,000 units this year.
Shojiro Sakoda, executive vice president of Isuzu Philippines Corp. (IPC), in a press conference for the 9th Philippine International Motor Show (PIMS) yesterday, highlighted the industry’s steady growth and resilience post-pandemic while also noting the critical need for adequate infrastructure to support the rising demand for electric vehicles (EVs) in the country.
According to data from the Asean Automotive Federation, sales in the Philippines as of the first half grew 11.8 percent compared to 6.6 percent increase posted by Malaysia. Other car-producing markets in the region posted declines: 19 percent for Indonesia; 24 percent for Thailand and; 1.8 percent for Vietnam.
At the PIMS press conference, Sakoda said: “We recognize the growing interest in electric vehicles, and we are carefully evaluating the best approach to introduce our EV models here. Our primary focus is ensuring that the infrastructure, support systems, and consumer readiness are in place to provide the best customer experience.”
Sakoda also hinted at potential surprises at PIMS, especially for EVs.
When asked about the possibility of introducing hybrid vehicles as a transitional solution for the Philippine market, Sakoda acknowledged the strategic advantages of hybrid technology.
“Introducing hybrid vehicles is something we are actively exploring, especially as we consider the unique challenges and opportunities in the Philippine market. Hybrids could provide a practical bridge towards full electrification, offering improved fuel efficiency and lower emissions while still using existing infrastructure.”
Sakoda said any move towards hybrid technology would be carefully planned and aligned with the evolving needs of consumers, particularly for commercial vehicles like trucks.
“We are continuously monitoring market developments and are open to adapting our product lineup to meet the evolving needs of our customers,” Sakoda added.
This year’s PIMS will have a special focus on sustainability, innovation, and mobility solutions tailored to the needs of the Filipino market.
The event, themed “Dare. Drive. The Future Redefined,” will showcase latest automotive innovations, cutting-edge vehicle models, and groundbreaking concept cars.
“This year’s PIMS embodies Campi’s bold vision of uniting the automotive industry and leading the way in redefining advanced, inclusive mobility for all Filipinos,” said
Rommel Gutierrez, president of Campi which organizes PIMS.
Seventeen of the world’s leading automotive brands will participate at PIMS including BMW, Changan, Chery, Daewoo, Foton, Ford, Honda, Hyundai, Isuzu, Jetour, Kia, Mazda, MG, Mitsubishi, Nissan, Suzuki, and Toyota.
