It is unlikely that the domestic motor vehicle industry will hit its 500,000-unit sales target this year, as the 8–10 percent decline recorded in the first quarter, along with continued increases in oil prices due to the lingering Middle East crisis, may dampen sales and consumer appetite for the rest of the year.
This was the personal view of Jose Maria “Jing” Atienza, president of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), which he shared during a press conference for the upcoming 10th Philippine International Motor Show (PIMS).
“500,000 units is not anymore our main goal for this year,” Atienza said, noting the effects of oil shocks on vehicle sales. He also noted that the 8–10 percent decrease in vehicle sales in the first quarter was better than his expectations of a steeper decline.
While Atienza forecasts that the decline in sales may persist for the rest of the year, he also hastened to add that CAMPI has yet to come up with an official projection.
In addition, he said the oil crisis has raised production and logistics costs, as well as affected the foreign exchange rate. However, he added that adjustments in vehicle pricing will depend on each company’s stance and how they position their brand to customers.
During this time of crisis, Atienza said that CAMPI’s main focus now is how to help consumers and motorists.
Meanwhile, the 10th PIMS, slated for June 4–7, is expected to help spur car sales. At least 50,000 visitors are expected to flock to the World Trade Center in Pasay to attend the car show.
There will be 17 participating car brands showcasing at least 150 vehicle models, more than half of which are electric vehicle variants.
More than half of the exhibiting brands will launch or preview new models. The diverse lineup will highlight the latest innovations, with a focus on fuel efficiency and smarter mobility solutions.
