Automotive industry in the Philippines

The Automotive Industry in the Philippines has been a thriving industry in the country over the last five years. Across the Asia Pacific Region, the Philippines ranked 9th among the countries with the highest passenger cars sold, with approximately 273.4 thousand vehicles 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. Furthermore, local consumers spend an average of between one to 1.3 million Philippine pesos on a motor vehicle.

In densely populated urbanized cities like Metro Manila, the outpour of vehicles on the road is one of the leading causes of traffic congestion. With the rising population, public transportation is not enough to cater to all commuters. In 2019, the number of people living in urban areas was approximately 51 million. The urban population accounted for almost half of the total inhabitants within the Philippines.

Commuters spend a minimum of one and a half to two hours on the road. With the public transportation inflow of passengers, especially during rush hour, several consumers opt to purchase their vehicles despite the traffic congestion in the Philippines. As of the first quarter of 2019, light commercial vehicles and passenger cars were among the highest sold type of automobile cars in the country. Notably, what was more popular in the Philippine automotive market were complete built-up vehicles (CBU) imported from several countries in the Asia Pacific region. On average, the cost of cars outside the Philippines was between 18 to 24 percent cheaper than locally produced vehicles. Significantly, locally produced vehicles cannot compete with CBU imported vehicles as tariffs imposed on traded products brought by the ASEAN Free Trade Area (AFTA), where the Philippine is a member country, falls from zero to five percent only.

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Automotive industry in the Philippines

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