Cars park at a complex in Makati City. Mark Demayo, ABS-CBN News

Car Parking

Benise Balaoing

Michelle Ong

ABS-CBN News

<p>MANILA -- The Philippine auto industry may return to pre-pandemic levels this year in terms of sales but local manufacturing is also losing its competitiveness, the president of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) said.</p><p>&quot;We have seen a steady growth from after the pandemic in terms of sales. In fact, this year, we are going to hit the pre-pandemic level,&quot; said CAMPI President Atty. Rommel Gutierrez</p><p>Gutierrez said the group is close to its target of selling 500,00 cars.</p><p>&quot;We are almost there, we are targeting this year about 470,000 units, and we still have 3 months more to go, and we hope that 500,000 could be reached this year, at least,&quot; he said.</p><p>The executive said the Philippines is one of the countries with the fastest growth in automotive sales.</p><p>&quot;The economy is doing well, we have lots of new (introductions) of model vehicles and even new players in the industry.&quot;</p><p>Gutierrez noted, however, that local car manufacturing is losing its competitiveness.</p><p>&quot;Local manufacturing is really losing its competitiveness, but it’s still there, and thanks to the government for their continued support to retain the viability of local manufacturing,&quot; he said.</p><p>&quot;Right now we only have about 30 percent of the total industry sales that are locally manufactured. It used to be more than 50 percent,&quot; he added.</p><p>He noted that importing cars has become cheaper than locally manufacturing them. Despite this, he said that local manufacturers are not giving up, and will not leave the Philippines as long as government support remains available.</p><p>&quot;It has always been a collaboration between the government and the private sector in terms of making local manufacturing a viable industry,&quot; he said.</p><div><br/></div><div><strong></strong><em>--ANC, 21 October 2024</em></div><style type="text/css" id="isPasted"><em>
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px 'Helvetica Neue'}
</em></style><div><br/></div>

<p>The auto industry in the Philippines may return to pre-pandemic levels this year, the president of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) said.</p>

The auto industry in the Philippines may return to pre-pandemic levels this year, the president of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) said.

PH auto sales returning to pre-pandemic level but local manufacturing losing competitiveness: group | ABS-CBN

Entertainment

News

Metro.Style

Sports

More

Business

PH auto sales returning to pre-pandemic level but local manufacturing losing competitiveness: group

PH auto sales returning to pre-pandemic level but local manufacturing losing competitiveness: group

Benise Balaoing,

Michelle Ong,

ABS-CBN News

Published Oct 21, 2024 04:03 PM PHT

|

Updated Oct 21, 2024 04:17 PM PHT

Read More:

ANC promo

cars

car manufacturing

ABSNews

auto sales

car sales

CAMPI

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

Terms of Service

Advertise with Us

© 2024 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Advertise with Us

Privacy Policy

Terms of Service

© 2024 ABS-CBN Corporation. All Rights Reserved.