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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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