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SMC to enter high-tech businesses including electric cars

Conglomerate San Miguel Corp. is preparing for its next wave of diversification which seeks to add next-generation technology businesses such as the production of micro-chips, smart phones and electric cars to its portfolio. SMC president Ramon S. Ang told reporters after the stockholders meeting of Top Frontier Investments Holdings Inc. on Wednesday that SMC was […]

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Hyundai auto sales up 6%

Hari chair Richard Lee, president and CEO Ma. Fe Perez-Agudo, chief finance officer Ladislao Avila and SVP for trade operations and development Jun R. Cortez in front of Hyundai’s first mass-production electric bus —aida sevilla-mendoza

Hyundai Asia Resources Inc. (Hari), the official distributor of Hyundai vehicles in the Philippines, capped the first semester with a 6-percent increase in sales from year-ago level, driven mainly by the passenger car segment. Data from the company showed that Hyundai had recovered its year-on-year sales last month, following a decline in May, in spite […]

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Vehicle sales up 17%, Toyota keeps lead

Vehicle sales went up 17 percent in May, recovering from a rather slow turnout in the month before, data from automotive and truck manufacturers showed. According to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA), member companies sold 35,469 units in May, up […]

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Hyundai sales up 6% in first 5 months

Hyundai Asia Resources Inc. sold few cars in May this year, sliding 6 percent from the same period in 2016, months after it reported its highest monthly output last March, company sales report showed. Hari sales went down to 2,801 units in May from 2,993 units in the same month last year. The slip could […]

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DOF: Strong vehicle sales to continue despite higher excise taxes

MANILA —  The Department of Finance expects robust vehicle sales to continue even as the higher excise taxes to be slapped on vehicles loom. “In other Asean economies such as Indonesia and Malaysia, automobile excise tax rates go as high as 125 percent and 105 percent, respectively, yet their luxury car markets continue to thrive,” […]

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Ayala unit buys German auto supplier MT Misslbeck

The industrial holding firm of conglomerate Ayala Corp. has hatched a deal to take over MT Misslbeck Technologies GmbH (MT), a German supplier of models, tools and plastic parts to the automotive manufacturing industry. AC Industrial Technology Holdings Inc. (AC Industrials), through AC Industrials (Singapore) Pte. Ltd., signed the acquisition of 94.9 percent of MT […]

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Lexus’ happy problem

Dealers of luxury vehicles in the Philippines are currently struggling with a problem. It’s not exactly a crisis—at least, not yet—but it is testing the mettle and abilities of their local managers just the same. That’s because the local market for high-end automobiles and sport utility vehicles has experienced a surge in demand from Filipino […]

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KTM to assemble motorbikes in PH under MVDP

KTM Asia Motorcycle Manufacturing Inc., a partnership between Ayala Corp. and Austria-based KTM AG, will start assembling motorcycles in the Philippines. KTM Asia will be a new participant in the new Motor Vehicle Development Program (MVDP) under Classification III. The Philippine Board of Investments (BOI) has approved the application of KTM Asia. Here’s the news from […]

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All-time high 417,356 vehicles sold in 2016

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Last November, the Philippine automobile industry, buoyed by first semester sales, raised its 2016 total sales target from 350,000 units to 370,000 units. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) saw the higher target as a stepping stone towards achieving “Vision 2020,” the industry’s goal to sell 500,000 units by 2020 mainly […]

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Ayala bets on PH manufacturing renaissance

The Philippines must seize a “unique but fleeting” window amid emerging trends in global manufacturing to establish itself as a pioneer in high-value manufacturing in Southeast Asia, the head of conglomerate Ayala Corp. Jaime Augusto Zobel de Ayala said on Tuesday. In a keynote speech during the Manufacturing Summit 2016, Zobel said he believed the […]

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Oct 18, 2017

It's not often that one is given an invitation to visit Rolls-Royce, purveyors of one of the best, if

Oct 11, 2017

How many times did you ever use the title of this column to answer a variety of question: