PHILIPPINES: Vehicle sales jump 51% in January
New vehicle sales in the Philippines rose by almost 51% to 12,256 units in January, from 8,127 units a year earlier, according to member data released by Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).
Relatively low interest rates, easy availability of credit and high levels of remittances from overseas works continue to fuel consumer spending and domestic economic growth.
Sales of passenger cars almost doubled to 4,161 units, from 2,099 units a year earlier. Commercial vehicles sales, including utility vehicles and SUVs, increased by just over 34% to 8,095 units.
CAMPI is confident the market will continue to push up from here, to reach 200,000 units in 2013 - including sales by non member companies. Overall vehicle sales last year increased by just over 10% to 182,779 units, from 165,194 units in 2011.
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
IHI is to jointly produce vehicle engine turbochargers with an affiliate of the Hyundai Automotive Group....
Hyundai Motor India, currently second, wants to overtake market leader Maruti Suzuki one way or another by the end of the decade....
Vehicle importers enjoyed record sales in South Korea in July, with total volumes rising by almost 39% to 14,953 units, according to the Korea Automobile Importers and Distributors Association....
An internal investigation into General Motors India's controversial Chevrolet Tavera multi-utility vehicle (MUV) recall has led to an additional 30-35 key executives at their Indian operations being a...
Chrysler Group said it would spend $52m at its engine plants in Trenton and Dundee, Michigan, to increase capacity of the 'Tigershark' engine, adding 298 new jobs at Trenton....
General Motors has increased to US$350m planned spending for new vehicles to be produced at its Spring Hill assembly plant in Tennessee, home to the defunct Saturn brand from 1990 to 2007....
Isuzu Motors will source diesel engines for its new Indian-made pickup trucks from General Motors in order to cut development costs....
- Comment - emissions 'failures' hardly a surprise
- ANALYSIS - supercharged Jaguar XF
- THE WEEK THAT WAS - VW agrees a deal with the US
- RESEARCH SNAPSHOT - Moving closer to self-driving
- Beijing backdrop – China challenges ahead
- Ford launches new EcoBlue 'Euro VI' diesel engine
- BEIJING 2016 - world premieres list
- JLR achieves aluminium recycling milestone
- Ford ‘not interested’ in Fiat Chrysler tie-up
- Ford spending $1.6bn on US plants