Automotive

PARIS (AFP) – – The world auto sector, after suffering a sharp decline this year, is set for a 5.0 percent sales rebound in 2010, a study forecast Thursday.

AUTOMOBILE sales picked up in May from the previous month, but the number of vehicles sold in the first five months was still lower than last year, according to industry groups.

WASHINGTON, D.C.: The rescue of US auto icons General Motors (GM) and Chrysler signals a new focus in Washington on preserving a manufacturing sector seen as critical to the fragile economy, analysts say.

The government will likely drop a plan to draw up a separate development program for the motorcycle industry following the lack of interest on the program.

MANILA, Philippines – The dramatically changing global landscape and economic conditions have created the urgent need, and the opportunity, for GM Corp. to reinvent both the car and the company. “All of our key stakeholders — US and global governments, taxpayers, unions, employees, retirees, suppliers, partners and dealers – are playing a vital role in…

MANILA, Philippines – There are now 5.53 million motor vehicles operating in the country and the number is expected to grow by 4.6 percent in the coming years, according to an expert from the United States Agency for International Development (USAID).

CAR sales declined 3.3 percent in the first four month, with a total of 38,552 vehicles sold, and industry officials blamed the fall on the fewer selling days in April.

WASHINGTON (AFP) – The global auto industry headed for a major shakeup Thursday as the boss of Fiat prepared to take charge of foundering US manufacturer Chrysler and German icons Porsche and VW moved toward an alliance.

MANILA, Philippines – They zip by quietly, running under 30 kilometers per hour around ritzy Fort Bonifacio Global City. But it’s enough to get attention from shoppers and promenaders.

MANILA, Philippines – Local automotive parts makers are looking at expanding their market and selling their products in Taiwan as they participated in the recently concluded 2009 Taipei International Auto Parts (AMPA) show.

First quarter sales of local car assemblers slowed from a year ago, according to two industry groups.

The domestic automotive market improved remarkably in March with industry sales growing by 19 percent to 10,746 units from 9,027 units in February—just 1 percent less than the quarterly showing last year of 28,907 units sold from this quarter’s strong 28,564 units.

HONG KONG (Reuters) — Global car and truck sales will take more than a decade to recover to their 2007 peak as the sector faces a recession that’s likely to be deeper than in the 1970s and ’80s, auto industry author Graeme Maxton said on Tuesday.

Isuzu Philippines Corp. is bracing for a slight dip in its sales target for 2009 because of the global crisis, which is also bringing about shifts in strategy to boost its maintenance and repairs services, a top executive said.

MANILA, Philippines – Toyota Auto Parts Philippines Inc. (TAP), a subsidiary of Toyota Motor Philippines (TMP), is planning to reduce the output in transmission plant due to the slowdown in the global demand for automobiles.

MANILA, Philippines – Auto sales went up by 2.7 percent to 9,027 units in February from a month ago, a good indication that the industry may grow this year despite the dismal performance of the auto industry in other countries, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said.

MANILA, Philippines – Toyota Motor Philippines (TMP), the country’s largest automobile distributor, announced they are studying the possibility of cutting the benefits of local executives and freeze wages amidst the slowdown in vehicle demand.

MANILA, Philippines – The local automotive industry has created the Philippine Automotive Competitiveness Council Inc. (PACCI) to promote domestic manufacturing as well as ensure overall future competitiveness and to preserve jobs, the Motor Vehicle Parts Manufacturers Association of the Philippines (MVPMAP) said.

Big players in the local automotive industry have been hit by the global slowdown in consumer demand as Toyota Motor Philippines (TMP) reduced their production of Innova and Vios by 10 percent, Nissan Motor Philippines Inc. implemented a four-day work week and retrenched 16 percent of its workers while Mitsubishi Motors Corp. Philippines instituted a…

Local vehicle assemblers are lining up strategies that would include seeking an amendment of the bond requirement for excise tax payment and a string of perks to buyers to maintain profitability and shield thousands of workers from losing their jobs.

The local automotive industry would try not to shed jobs, officials said, even as some car companies here are already implementing some “efficiency measures” to cut down on costs amid the global downturn.

KUALA LUMPUR – ASIA’S auto industry faces a dramatic slowdown in 2009 as the global financial crisis puts the brakes on sales, with Japan and Korea hit hard by weakening demand in the United States and Europe.

Toyota Motor Philippines Corp. (TMP), the country’s largest car manufacturer, announced yesterday that it recorded an all-time high sales of 45,915 units in 2008 despite the general slowdown in global consumer demand.

THE automotive industry sold 124,449 units in 2008, posting a 5.6-percent growth from 2007 despite the impact of the global financial crisis.

Sales of the local automotive industry grew by six percent last year despite the slowdown in vehicle sales seen in other markets like the US and Europe, the Chamber of Automotive Manufacturers Association of the Philippines Inc. (CAMPI) said.

Amid a troubled global economy last year, the local automotive industry managed to pull off year-on-year sales growth but missed its official growth target by a hairline, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association said.

Honda Cars Philippines Inc. expects to post a flat sales growth for this year after experiencing a decline of 17 percent in 2008.

HONDA Cars Philippines remains upbeat over its prospects despite difficult business conditions. It even sees sales growing by 10-percent this year from a decline of 17 percent last year.

Toyota Motor Philippines (TMP) said yesterday they will not suspend local production despite a decision of Toyota Motor Corp. (TMC) to suspend production at all of its Japanese plants for 11 days between February and March in response to a slump in sales.

The local automotive industry would not have to resort to asking the government for a bailout, unlike the much-troubled US auto industry, manufacturers said Monday.