While many contend that traffic alone makes Metro Manila unbearable for motorists, the fact that our fair metropolis has two international-grade motor shows (along with many custom car shows) makes it a lively one for car enthusiasts. One is the annual Manila International Auto Show or MIAS, and the other is the one happening right now: the 7thbiennial Philippine International Motor Show, or PIMS. As the grand, biennial event hosted by the the country's largest auto industry association, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the 2018 edition of PIMS is expected to deliver more new cars, more brands, and more test drives than any other domestic motor show. If you've got some time this weekend and want to make your way over to the World Trade Center in Pasay City, then here's a list of the 5 things you can expect when you visit the 2018 Philippine International Motor Show. New car launches Any international motor show is essentially a launch pad … [Read more...] about 5 reasons you need to go to the Philippine International Motor Show
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New car sales this year in the Philippines are likely to sustain the first decline in seven years due largely to newly implemented higher excise taxes on automobiles. New motor vehicle sales in the first nine months of this year plunged 13.8 percent from a year earlier to 261,057 units, according to data compiled by the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association. The domestic auto market is unlikely to post a sales increase in the remaining three months of this year because last-minute demand ahead of the tax hike boosted car sales in the October-December period last year. Filipino consumers have become reluctant to purchase high-priced items due partly to accelerating inflation, said Satoru Suzuki, president of Toyota Motor Philippines Corp. under Toyota Motor Corp., adding car sales will not recover within this year. Industry sources also attribute the sluggish car sales this year to a limit of 65,000 registered vehicles for … [Read more...] about News New car sales in Philippines likely to suffer first drop in 7 years
Toyota Philippines targets sales of 2 M vehicles in 3 years Louella Desiderio (The Philippine Star) - July 22, 2018 - 12:00am MANILA, Philippines — After achieving 1.5 million cumulative vehicle sales last month, Toyota Motor Philippines Corp. (TMPC) aims to hit the two million mark in at least three years. Speaking at the media launch of the new Vios, TMPC president Satoru Suzuki said the company reached the historic sales milestone thanks to the country’s growing economy and rising purchasing power of individuals. Suzuki said the company was also able to offer products which met the demands of the market. Among these include the Avanza, Wigo, Rush and now, the Vios. “Not only is the market good, but we brought in good new models and we also supported that with our dealership network,” he said. For this year, TMPC expects sales to match last year’s 182,837 units. Sales of TMPC reached 73,136 … [Read more...] about Toyota Philippines targets sales of 2 M vehicles in 3 years
It appears that transport officials, for one reason or another, had a change of heart in adopting a transport mode, which for a while they were pushing Congress to approve as they found it then as an immediate and cost effective solution to Metro Manila’s traffic problems. The complete turnaround by the Department of Transportation (DOTr) regarding its interest in setting up the proposed Bus Rapid Transit (BRT) system reportedly baffled lawmakers to whom this concept was aggressively presented and successfully justified not long ago. Instead, the DOTr is now reportedly pushing for a rail project, which many have opined to be a lot more expensive. Before the reported withdrawal of the DOTR, two BRT projects have been lined up in Metro Manila, with Line 1, which was suppose to run from the Quezon Memorial Circle to Manila City Hall via Quezon Avenue and España Boulevard and Line 2 that was to run the length of EDSA. The congressmen who were convinced by the DOTr to have the … [Read more...] about Is it or is it not good?
Seeking to cover part of the country’s huge backlog of 6.6 million housing units, the new venture plans to launch about 15 new housing projects equivalent to around 33,000 housing units within the next five years. Each unit will be priced between 1 million pesos and 6 million pesos, targeting middle-income first time homebuyers. Overall, the deal will deliver homes worth more than 57 billion pesos. The joint venture company, to be named Phirst Park Homes, will be incorporated after the joint venture agreement has secured clearance from the Philippine Competition Commission. The projects will be launched in key locations outside of Metro Manila under a new brand called PHirst Park Homes. Capital expenditures for the first five years are estimated at around 10 billion pesos. Under the terms of the agreement, CPG will subscribe to 60 per cent and Mitsubishi to 40 per cent of the authorised capital stock equivalent to 5 billion |pesos over the same five-year horizon. From a … [Read more...] about Mitsubishi, partner plan $1 bn homes