The local auto industry may experience a flat growth in terms of sales this year as a result of the expected drop in demand due to the global economic slowdown.
“Official CAMPI (Chamber of Automotive Manufacturers of the Philippines Inc.) forecast for 2009 is two percent to four percent growth which is a slower growth compared to 2008, with a flat growth as a worst case scenario,” Elizabeth H. Lee, CAMPI president said in a statement.
According to Lee, the local industry remains positive compared to other markets especially those in the developed economies with saturated markets.
Although a spill over effect from the global economic turndown is expected, the degree of impact is expected to be relatively less,” Lee noted.
“Perhaps this may be an opportune time to highlight Philippine auto opportunities especially against the backdrop of the changing face of globalization turning into regionalization,” she added.
According to her, the remittances coming from the overseas Filipino workers (OFWs) will remain a significant engine of consumption.
Lee stressed that this year will be challenging for all players as competition becomes stiffer.
She said vehicles that give the greatest value for money will be winners as buyers seek to get the most out of their earnings. As such, dual purpose vehicles will continue to be popular.
Likewise, Lee said that prices of vehicles will be steady barring any spikes in the exchange rate. “As long as the peso does not go over P50 (to a dollar),” Lee said. According to her, the ideal rate is 44 to $1.
Lee said they are not expecting any significant price increases next year given the dropping prices in the oil prices, logistics expense and steel prices.–Ma. Elisa P. Osorio, Philippine Star
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
