A government bailout for the Big Three US automakers, the world’s leading carmaker Toyota suffering its first loss in 70 years, and weak sales in the European market. With big players in mature markets in trouble as a result of the slowdown in the world economy, is the Philippine auto industry not far behind?
Automotive sales went up by 8.3 percent to 114,564 units in the first 11 months of this year from 105.771 units in the same period last year despite a 7.7-percent drop in the November sales performance.
Philippine auto industry breaches the 100,000th unit mark, posting its best figures in a decade
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.
THE Philippine car industry has yet to recover from the Asian financial crisis as it still faces weak domestic demand and competition from used imported vehicles, the Philippine Institute for Development Studies (PIDS) said.
The government has assured local car makers that the ban on the entry of used vehicles will stay when the Japan-Philippines Economic Partnership Agreement takes effect.
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.
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