ise-view-Article Detail Bottom List
Philippines major role in auto making
Date Published：3/9/2018 11:03:04 AM
Local newspaper The Philippine Star has reported Japan International Cooperation Agency (JICA) sees the Philippines emerging as a regional automotive manufacturing hub capable of exporting vehicles in less than a decade as local production is expected to rise to one million units annually.
A new study by JICA suggests that Philippine vehicle production would hit one million units per year by 2027.
The government’s Comprehensive Automotive Resurgence Strategy (CARS) is one of many efforts to revitalize the Philippine automotive industry and develop the country as a regional automotive manufacturing hub.
Mitsubishi Philippines’ newly inaugurated stamping plant in Laguna, the largest in the country, also leads the Philippines closer to “generating capacities that will prepare them for the future plans to make Philippines the hub of car manufacturing of one million a year by 2027 for local and export demand.
Vehicle production in the country continues to expand annually, even outgrowing most markets in the region last year, but remained lagging behind its peers in terms of volume.
Data from the ASEAN Automotive Federation showed motor vehicle production in the Philippines accelerated 21 percent in 2017 to 116,868 units from 141,252 units in the previous year.