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Automotive Report Philippines

  • ID: 2101450
  • Report
  • Region: Philippines
  • 13 Pages
  • The Economist Intelligence Unit
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The Philippine automotive industry and market are small compared with those of several other Association of South-East Asian Nations (ASEAN) countries, despite the country's sizeable population of 105m and several years of rapid growth. Output relies on assembly operations, operating under licence from foreign carmakers.

Following the creation of the ASEAN economic community in 2015, the government of Rodrigo Duterte, the president, aims to turn the Philippines into a regional automotive manufacturing hub by 2027. Sectoral support is provided under two programmes administered by the Board of Investments. The first, the Motor Vehicle Development Programme (MVDP), was introduced in 2002 and renewed in 2010. The second, the Comprehensive Automotive Resurgence Strategy (CARS), was approved in 2015 by the then-president, Benigno Aquino. Both schemes now run parallel to each other.

The Philippine vehicle market has enjoyed a boost since 2013, when the government restricted imports of used vehicles. New car sales reached an all-time record high of 139,424 units in 2017, according to the Chamber of Automotive Manufacturers (CAMPI). However, The Economist Intelligence Unit expects sales to fall sharply in 2018-20. The decline will reflect the high base in 2016-17, as well as a rise in excise taxes on cars and fuel from January 1st 2018. A subdued recovery in 2021-22 will then bring annual sales back towards 2017 levels by the end of our five-year forecast period.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
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Automotive Report Philippines

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources
Note: Product cover images may vary from those shown
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