Flat Growth Rate Expected

According to Frank Nacua, secretary-general of the Philippine Automotive Federation Inc., the Philippine auto industry is expecting a flat sales growth this year.

“Flat growth will be expected this year for the local car industry,” Frank Nacua, secretary-general of the Philippine Automotive Federation Inc., told reporters in a chance interview. He said the industry’s growth target of 4 percent to 5 percent drawn up at the start of the year would not be possibly achieved and that a revision of goal was imminent.

This was somewhat mirrored by Elizabeth Lee, Chamber of Automotive Manufacturers of the Philippines Inc. president:

“Although the supply of vehicles to date is ample to meet the market demand at this time, common problems across brand makes are starting to affect the production of vehicles locally,” she said, adding that common issues include logistics and the disruption to the supply chain for some key parts.

It seems that it’s better to have lower expectations of sales rather than higher at this point of the year after how the Japan quake has affected the local auto industry.

Article via: Manila Standard Today | Image via: Open for Business

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