Philippines autos-report-q3


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Philippines autos-report-q3

  1. 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Download this market research report on Reportlinker.comPhilippines Autos Report Q3 2010Published on July 2010 Report SummaryJust how keen Philippines is on becoming a major force in the ASEAN auto sector is evident from the fact that the countrys Board ofInvestment (BoI) has now established a committee to address the excise tax changes needed to support the industry. While wecurrently have a positive outlook for the industry in terms of both sales and production growth over the next five years, we believe thatencouraging more investment in domestic production by supporting the supplier segment and fostering the growth of popular vehiclessuch as Asian Utility Vehicles (AUVs) through an improved tax structure, could prompt further upward revisions to our forecasts.While the Philippines economy is rebounding reasonably well GDP growth expected at 4.4% year-onyear (y-o-y), export markets areunlikely to cope so well. As such, although our core scenario envisions beginning of a recovery in production and exports from 2010,we remain cautious of any robust growth this year. We are currently forecasting production to grow by a nearly 8% y-o-y, mainly asexports pick up a growth of 11% y-o-y during 2010. However, risks to our production forecast for 2010 are tilted to the downside, inthe event that the global economic downturn persists through that year.From the point of view of demand, BMI sees the strong 37.4% y-o-y increase in new vehicles sales, to 52,963 units in the first fourmonths of this year, as a sign of improved consumer and businesses confidence. Although we expect the entrance of new players tothe Philippines market to make for an interesting year, the overall markets performance this year could be impacted by the new MotorVehicle Development Program (MVDP) which could require vehicle assemblers to invest in local parts production in order to qualifyfor tax incentives. As such, we limit our sales growth forecast to just over 11% y-o-y, to 147,550 units, by the end of this year.Thereafter, we expect vehicle demand to follow the overall economic growth in the country, reaching nearly 201,600 units by the endof 2014.The Philippines is one of the smallest of the ASEAN markets in output terms and one factor in this is a need to develop the localsupplier network. However, Philippines request to retain tariffs on parts especially could have negative implications for the industrysdevelopment, if Japanese companies refuse to invest further in local operations. This is largely due to the large Japanese presence inthe local industry.Toyota Motor Philippines (TMP) led the market last year, achieving record sales on the back of its bestselling models. Although themarket is dominated by Japanese brands, the competitive landscape is still far from saturated by carmakers and could still provideopportunities for new entrants. Chinas Great Wall Motor arrived in the market in February and plans to launch six models, which willinclude the Wingle pick-up and Hover SUV, aimed at the countrys largest vehicle segment. Table of ContentExecutive Summary ... 5SWOT Analysis .... 6Philippines Auto Industry SWOT .. 6Philippines Political SWOT ... 7Philippines Economic SWOT . 8Philippines Business Environment SWOT ... 9Asia Pacific Regional Overview .... 10Asian Auto Sector Becomes The Sum Of Its Parts . 10Business Environment Ratings .... 19Philippines Autos Report Q3 2010 Page 1/4
  2. 2. Find Industry reports, Company profilesReportLinker and Market StatisticsTable: Business Environment Ratings Auto Industry Asia Pacific .... 22Industry Forecast Scenario .... 23Table: Philippines Auto Industry Production & Sales 23Table: Philippines Motorcycle Production And Sales (Units) 24Trade 25Table: Philippines Auto Industry Exports And Imports ...... 25Economic Contribution . 26Table: Philippines Auto Industry Economic Contribution . 26Macroeconomic Forecast Scenario ..... 27Table: Philippines Economic Activity .... 29Competitive Landscape .. 30Table: Philippines Top 10 Total Vehicle Sales, 2009 .. 30Table: Philippines Commercial Vehicle Segment (Units), 2009 ... 31Industry News . 32Company News ...... 34Components Industry .... 37Company Profiles ..... 38Geely Strategy Supports BMI View .. 38Table: South Korea Imported Luxury Vehicle Sales ... 41Company Profiles ..... 42Toyota Motor Philippines (TMP) ..... 42Honda Cars Philippines (HCP) 44BMI Methodology ..... 45How We Generate Our Industry Forecasts ...... 45Sources .... 46Philippines Autos Report Q3 2010 Page 2/4
  3. 3. Find Industry reports, Company profilesReportLinker and Market Statistics Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to (805) 617 17 93 . If you have any questions please visit Order Information Please verify that the product information is correct and select the format(s) you require. Philippines Autos Report Q3 2010 Product Formats Please select the product formats and the quantity you require. Digital Copy--USD 530.00 Quantity: _____ Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: _____________________________ Last Name: __________________________________ Email Address: __________________________________________________________________________ Job Title: __________________________________________________________________________ Organization: __________________________________________________________________________ Address: __________________________________________________________________________ City: __________________________________________________________________________ Postal / Zip Code: __________________________________________________________________________ Country: __________________________________________________________________________ Phone Number: __________________________________________________________________________ Fax Number: __________________________________________________________________________Philippines Autos Report Q3 2010 Page 3/4
  4. 4. Find Industry reports, Company profilesReportLinker and Market Statistics Payment Information Please indicate the payment method, you would like to use by selecting the appropriate box. Payment by credit card Card Number: ______________________________________________ Expiry Date __________ / _________ CVV Number _____________________ Card Type (ex: Visa, Amex…) _________________________________ Payment by wire transfer Crédit Mutuel RIB : 10278 07314 00020257701 78 BIC : CMCIFR2A IBAN : FR76 1027 8073 1400 0202 5770 178 Payment by check UBIQUICK SAS 16 rue Grenette – 69002 LYON, FRANCE Customer signature:   Please note that by ordering from Reportlinker you are agreeing to our Terms and Conditions at Please fax this form to (805) 617 17 93Philippines Autos Report Q3 2010 Page 4/4