Philippines Autos Report

Published 18 June 2015

  • 61 pages
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  • Includes 3 free updated quarterly reports
$1,295.00
Philippines Autos Report

Sales

Based on latest sales figures from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), auto sales in the Philippines rose 18.1% year-on-year (y-o-y) in May 2015, to 23,139 units. This brought auto sales for the first five months of the year to 107,280 units, an increase of 20.1% y-o-y. We forecast full-year sales growth forecast of 13.2% as high base effects will temper growth slight in the coming months.

The country's consumer story continues to grow from strength to strength. According to the CAMPI President Rommel Gutierrez, the consistent growth in sales is largely due to attractive and flexible financing options and new models introduced by several brands. With our Country Risk team forecasting the central bank policy rate to remain at 4.0% in 2015 and only rise by 25 basis points in 2016, affordable credit will continue to underpin demand for cars.

For the first five months of the year, Toyota Motor Philippines Corp remained the market leader with total sales of 47,794 units (44.6% market share). In second place was Mitsubishi Motors Philippines Corp with sales of 20,591 units (19.2%). Ford Motor Philippines took the third place with sales of 8,557 units (8.0%), while Isuzu Philippines Corp landed in fourth place with sales of 8,010 units (7.5%). Honda came in fifth place with sales of 6,785 units (6.3%).

Production

Meanwhile, we maintain our outlook for vehicle production, forecasting production to grow 14.4% in 2015 (based on OICA figures), with demand for autos still largely being fulfilled by imports. Automakers mainly operate assembly plants rather than fully developed manufacturing facilities, as a weak supplier base has resulted in car manufacturers having to import vehicle parts, raising production costs.

Although the Philippines government is heading in the right direction with its recent proposal to provide manufacturers with tax credits under the Comprehensive Automotive...

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Operational Risk
13
Industry Forecast
15
Sales
15
Table: Autos Total Market - Historical Data And Forecasts (Philippines 2013-2019)
15
Table: Passenger Car Market - Historical Data And Forecasts (Philippines 2013-2019)
15
Table: Commercial Vehicle Market - Historical Data And Forecasts (Philippines 2013-2019)
16
Table: Motorcycle Market - Historical Data And Forecasts (Philippines 2013-2019)
16
Production
19
Macroeconomic Forecast
22
Economic Analysis
22
Table: Economic Activity (Philippines 2010-2019)
26
Industry Risk/Reward Ratings
27
Asia - Risk/Reward Index
27
Table: Asia Pacific Autos Risk/Reward Index
29
Competitive Landscape
30
Competitive Landscape
30
Table: Top Automakers In The Philippines By Sales (Both Commercial Vehicles And Passenger Cars) In 2014 (Including AVID Members)
30
Industry News
31
Motorcycles
32
Company Profile
33
Company Monitor
33
1
34
2
34
3
34
4
35
5
35
Toyota Motor Philippines (TMP)
37
Honda Cars Philippines (HCP)
38
Regional Overview
39
Asia Overview
39
Table: Asia Production Investment September 2014-January 2015
40
Global Industry Overview
48
Table: Passenger Car Sales March (CBUs)
48
US Slowdown A Temporary Glitch-
48
Europe Recovery Will Be Steady
50
Asia Carries The BRIC States
51
Demographic Forecast
53
Table: Population Headline Indicators (Philippines 1990-2025)
54
Table: Key Population Ratios (Philippines 1990-2025)
54
Table: Urban/Rural Population & Life Expectancy (Philippines 1990-2025)
55
Table: Population By Age Group (Philippines 1990-2025)
55
Table: Population By Age Group % (Philippines 1990-2025)
56
Methodology
58
Industry Forecasts
58
Sector-Specific Methodology
59
Sources
59
Risk/Reward Index Methodology
60
Table: Automotive Risk/Reward Index Indicators And Weighting Of Indicators
61

The Philippines Autos Report features the latest data and forecasts covering production, sales, imports and exports.

BMI Research's Philippines Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Philippines.

Key Benefits

  • Benchmark BMI's independent automotives industry forecasts on Philippines to test other views - a key input for successful budgetary and planning in the Philippine automotives market.
  • Target business opportunities and risks in the Philippine automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Philippines.
  • Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering production, sales and the introduction of new technology or products.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the autos sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end- 2019 for all key industry indicators (see list below), supported by explicit assumptions plus analysis of key downside risks to the main forecast, including:

Sales and production of motorcycles in units; total production of units; production by vehicle type (including cars, commercial vehicles, trucks and buses); total vehicle fleet size in units; sales by vehicle type, including passenger cars and commercial vehicles; fleet size by vehicle type, including passenger car, commercial vehicles and motorcycles; total vehicle trade balance in units; vehicle trade balance by vehicle type, including passenger car, commercial vehicle and motorcycle; car ownership measured as car density per 1,000 people.

BMI’s Autos Risk Reward Index

BMI’s Risk Reward Index provides investors (manufacturers, suppliers and dealers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points. These provide indices of highest to lowest appeal to investors, with each indices explained.

BMI Economic Forecasts

BMI forecasts to end-2019 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company  developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Global, Regional and Country Industry Overviews

In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country  investment, product and financing trends that will affect each market, supported by BMI’s global and regional industry forecasts.

Sources

The Autos reports draw on an extensive network of primary sources, such as manufacturing associations, statistical bureaus, government transport ministries, national chambers of commerce and industry, national statistical offices, government ministries and central banks and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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