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April 25, 2024

New Car Sales Cool Last March With Month On Month Decline

New car sales grew at its slowest pace in over two years last March amid elevated interest rates. The joint report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) showed that sales rose just 1.6 percent to 37,474 units last month compared to 36,880 units a year earlier.

GAC Motor Is Philippines' Fastest Growing Auto Brand For Q1 2024

Astara-led GAC Motor concluded the first quarter of 2024 with exceptional growth in retail sales from January to March, earning its position as the fastest growing automotive brand in the market and setting new benchmarks for success in the industry.

Mitsubishi Motors PH Had Their Highest Fiscal Year Sales Ever In 2023

During its presidential turnover, Mitsubishi Motors Philippines (MMPC) revealed that they have recorded their highest annual sales volume ever in a Fiscal Year (FY). Sales from April 2023 to March 2024 have hit 81,473 units helping the brand secure an 18.5 percent market share.

Mitsubishi Motors Philippines Corporation (MMPC) commemorated the transition of leadership from outgoing President & CEO, Takeshi Hara (left of lead photo) to incoming President & CEO, Ritsu Imaeda (right of lead photo).

Mitsubishi Motors PH, Security Bank Establish Mitsubishi Motors Finance Philippines

Mitsubishi Motors Philippines Corporation (MMPC) and Security Bank Corporation (SBC) have signed a joint-venture to establish Mitsubishi Motors Finance Philippines Inc. The new company will offer financing services to MMPC customers in the Philippines.

Under New Management, Chevrolet Reports 41 Percent Growth In Q1 2024

Chevrolet Philippines President and CEO Maria Fe Perez Agudo announced at the Manila International Auto Show (MIAS) that Chevrolet Philippines has accomplished a 41 percent sales growth in the first quarter of the year, driven by the Tracker, Camaro, and Trailblazer. This impressive growth has been realized through the company’s aggressive first quarter sales campaign and product road shows.

Chevrolet Philippines New Management Team Formally Unveiled At MIAS

Chevrolet Philippines formally announced its new management team at the Manila International Auto Show.

Astara Philippines Appoints New CEO And Country Manager

Astara Philippines has announced a significant change to its organizational structure with the appointment of Luis Torres Bruzón as CEO and Country Manager. In this newly created role, Torres Bruzón will spearhead Astara’s operational growth and establish the company as a leader in open and sustainable mobility solutions in the region.

Omoda And Jaecoo Appoints Industry Veteran To Head Operations

Ahead of its official brand launch at the Manila International Auto Show (MIAS), Omoda and Jaecoo has appointed a Philippine industry veteran as vice-president in charge of operations.

Last February, New Car Sales Had Fastest Growth Rate As Toyota Corners 45 Percent Market Share

New vehicle sales jumped 23 percent in February—the fastest growth rate in seven months, according to the joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA).

Astara Philippines Appoints JAC Motors Brand Head

Astara Philippines announced the appointment of Tonette Lee as brand head for JAC Motors in the Philippines starting March 22, 2024.

Yasuhisa Masuda Is Nissan Philippines' New President

Nissan announced the appointment of Yasuhisa Masuda as the President of Nissan Philippines, effective April 1, 2024. He will report to Toshihiro Fujiki, also newly appointed President, Nissan ASEAN and Thailand, and will be based in Manila.

BAIC Returns To Philippines Under UAAGI; Previews 5-Car Line-Up

United Asia Automotive Group Inc. (UAAGI) is now the official distributor of BAIC (Beijing Automotive Industry Holding Co. Ltd.) in the Philippines. BAIC Philippines will bring in a lineup of both traditional SUVs and modern crossovers.

Autohub Formalizes Zeekr PH Distributorship; Reveals Launch Line-Up

The Autohub Group has confirmed the initial line-up for its premium all-electric Zeekr brand. The partnership was sealed during the Autohub Group’s 25th anniversary celebrations.

Toyota Motor PH Secures Bureau Of Customs Level 2 Authorized Economic Operator Certification

Toyota Motor Philippines Corporation (TMP), recently received its accreditation and became one of the pioneer organizations to be certified as Authorized Economic Operator Level 2 from the Bureau of Customs (BOC). The BOC also recognized TMP for being the country’s second top importer, remitting a total of P 44 billion in duties and taxes and contributing to the agency’s positive collection in 2023.

Inchcape Bolsters Philippine Presence With 1.2-Hectare C5 Hub

Inchcape Philippines will further bolster its presence in the Philippines with the soon-to-open C5 hub. The facility, which used to house Subaru and Peugeot, has been transformed into the distributor’s mass market hub housing both Mazda and Changan.

AC Motors Rebrands To AC Mobility

AC Motors is now ACMobility. This rebrand of AC Motors to ACMobility reflects the transformation of Ayala’s mobility business, from one that was predominantly focused on selling automotive vehicles to an end-to-end mobility provider that encompasses services, infrastructure, and eventually digital platforms, among others.

What Is The State Of The Philippine Electric Vehicle Industry In 2023?

When the Philippine government passed the Electric Vehicle Industry Development Act or EVIDA Law in April 2022, it had the goal of moving the country towards a greener and fossil fuel-free environment. Among the perks the EVIDA Law granted was the reduction of vehicle excise tax to zero for Battery Electric Vehicles (BEVs) and 50 percent for Hybrid Electric Vehicles (HEVs).

Toyota Motor PH Appoints Masando Hashimoto As New President

Toyota Motor Philippines Corporation (TMP) formally introduced its new president, Masando Hashimoto. Hashimoto assumes leadership from Atsuhiro Okamoto, whose tenure saw remarkable resilience and growth amidst the most challenging years for the Philippine economy, navigating the impacts of the global health crisis.

January 2024 New Car Sales Up 15.5 Percent; Toyota Corners 47.25 Percent

New car sales are off to a strong start in 2024 as the joint report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) shows. The CAMPI-TMA indicates that 34,060 new vehicles were sold in January 2024—a 15.5 percent jump from the same month in 2023.

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