Business

AVID kicks off the year with 6,493 units sold

The Association of Vehicle Importers and Distributors (AVID) has sold 6,493 units in January this year, a drop of 25 percent from last year’s 8,696 units sold in the same period amid conservative consumer outlook.…

Shell Eco Marathon 2018: what I learned

While I generally like cars to go fast, because they are more fun, I’m a huge fan of Shell Eco Marathon, which is all about efficiency rather than outright speed.…

Subaru chief says inspections were flawed, like Nissan’s

TOKYO — The head of Japanese automaker Subaru bowed deeply in apology Friday as the company admitted that it has been carrying out flawed inspections of its Japan-made cars for years.…

BarkPark: College grads turn ‘unorthodox’ thesis into a real business

Dasher bounded under the gentle sunlight of a sleepy Saturday morning. From afar, his family watched his enthusiasm with fondness. The two-and-a-half-foot tall Siberian Husky stared back as his family chatted with a young man with glasses.…

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.…

Phaseout of 3 vehicle models threatens thousands of workers

About 7,000 workers employed in small- and medium-scale automotive parts manufacturing firms may lose their jobs this year following the scheduled phase out of select car models that couldn’t comply to stricter fuel emission standards, a top…

SMEs seen left out of vehicle program

Months after they made their call to be part of the supply chain of the CARS program, small- and medium-sized parts makers have yet to be informed if they would be part of the government-initiated project at…

Petron 2016 net income surges by 73%

Petron Corp. saw its full-year net income surge 73 percent to P10.8 billion in 2016 on record-high sales volume. The homegrown oil refiner, which is also present in Malaysia, said in a statement that its performance last…

SEC oks Bermaz Auto’s P1.24B IPO

The Securities and Exchange Commission has approved a plan by Mazda car dealer Bermaz Auto Philippines Inc., an affiliate of Malaysian conglomerate Berjaya, to raise as much as P1.24 billion from a local stock market debut. Based…

Great times ahead for Mitsubishi PH

These are great times, indeed, for Mitsubishi to be in the Philippines.…