Import car markets are big in Southeast Asia

Home Appraisal for Buyers
Home Appraisal for Buyers

Import cars in Southeast Asia

The import cars industry in the Philippines continues to grow according to a report made by GMA News, one of the leading News Company in the Philippines Based on e-mailed statement from the Association of Vehicle Import and Distributors (AVID) its members sold 2,589 units in October this year from 2,241 in the same comparable period last year.
The said Association of Import Cars was actually not surprise on the statistics despite of the socio-economic impact of Yolanda and said that their confident to the automotive industry will continue to demonstrate its resiliency and adaptability to solidify its long term sustainability goal.
One of the key role in driving up Sales boost of the import cars is the “Wider Availablity of Financing” It has been the main engine for growth in import car sales due to lower interest rates post-investment upgrade, and banks are a lot more eager to partner with car dealers.
Toyota continues to lead the way in the Philippines, recently reporting its highest-ever sales for Vios Model. Consumers purchased 2125 Vios units in August, trumping the company’s previous record of 1760, which it achieved in December 2012. Mitsubishi holds the second position, with 34% market share, followed by Honda’s 8%.
From a simple citizen like me, import cars industry’s said statistics can help the Philippines’ economy. It may also mean that more people can afford to buy imported cars right now. More import cars means more taxes to submit. I just hope that those taxes will be using in a more meaningful way. We all know that the Philippines is experiencing bad situations and controversies regarding tax usage of the Government.
Nowadays, there are changes from the mind of the people, especially Filipinos. Especially we are in the age of Technology now, which means we can be updated on the new technologies through our cellphones, tablets, laptops of course through the power of internet, anytime and everytime. And knowing Filipinos are afraid of being left behind from the trend. I can say that Import Car Industries may continue to grow here in the Philippines.

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