Lots of the changes occurring within the automotive market today, together with tightened credit score markets in a capital-intensive trade and elevated authorities involvement are the newest global challenges. The Automotive Industry within the Philippines has been a thriving trade in the country during the last 5 years. Across the Asia Pacific Region, the Philippines ranked ninth among the nations with the highest passenger cars sold , with roughly 273.4 thousand automobiles in 2019. On average, 25 percent of local households owned a motorcycle or a tricycle, and 5.9 percent had a car, jeepney or a van as of 2018. Moreover, native customers spend a median of between one to 1.three million Philippine pesos on a motor vehicle.
She famous that there is relatively more cross-border collaboration amongst manufacturers in the electrical car business thus far, and that the way forward for the business going ahead will rely more … Read More