Inaugural Auto Parts & Vehicles Expo Highlights Continuously Robust Growth of Vehicle Industry in PH
After the remarkable surge in vehicle sales in the Philippines in 2023, it’s no surprise that the automotive parts and car care products industries are gearing up for even more growth.
MS. BIANCA PEARL SYKIMTE Director Export Marketing Bureau Department of Trade and Industry (DTI)
HON. JESUS FERDINAND ORTEGA Undersecretary for Road Transport and Infrastructure Department of Transportation
MS RUNGPHECH ROSE CHITANUWAT Country General Manager Informa Markets – Philippines, and
Mr. Alwin Seow, Deputy Event Director,
That’s where the Auto Parts & Vehicles Expo Philippines (APVE) comes in – providing a perfect platform for local and international suppliers to come together for business, networking, and sharing ideas on automotive parts, accessories, maintenance equipment, and tools.
The first-ever APVE, scheduled for June 5 to 7, 2024, is expected to attract around 4,000 potential buyers and sellers from the Philippines and Southeast Asia. With hundreds of exhibitors from both regional and international markets, attendees can look forward to discovering the latest products and innovations in the dynamic auto parts sector.
See also: Why the Auto Parts and Supplies Sector Continues to Thrive in PH
“The first-ever APVE Philippines is designed to be a game-changing platform aimed at congregating industry leaders, buyers, sellers, and representatives from the government to unlock emerging and potential growth opportunities in the auto parts sector,” said Rungphech ‘Rose’ Chitanuwat, General Manager in the Philippines of Informa Markets, the organizer of the trade event.
Record-breaking car sales
In 2023, automotive sales in the Philippines saw a remarkable increase of 21.9%, reaching a total of 429,807 units sold. This surpassed the industry’s target of 423,000 units and even exceeded pre-pandemic sales levels. Passenger vehicles made up 25.4% of the total sales, while commercial vehicles accounted for the remaining 74.6%.
The local automotive parts industry consists of over 250 businesses that manufacture and import a wide range of parts and components, including those made from metals, rubber, plastic, and other materials. These companies supply items to both original equipment manufacturers (OEMs) and the independent aftermarket (IAM) in the country.
Additionally, the sector also caters to the growing electric vehicle (EV) market in the Philippines. With the Electric Vehicle Industry Development Act (EVIDA) in place, sales of EVs are on the rise, supported by public sector initiatives and efforts to make EVs more accessible and affordable to the general public.
Relevant conferences and seminars
Driven by the continuous improvement of economic conditions, the increase in consumer confidence, and the introduction of high technology and innovative aftermarket vehicle parts, various issues are inevitably connected to the industry. Therefore, the inaugural APVE Philippines is organizing significant conferences and seminars aimed at key stakeholders.
Day 1 will feature a seminar by the Philippine Board of Investments on potential tax incentives for investors. The Electric Vehicle Association Philippines (EVAP) will also conduct a session discussing the State of the Philippine Electric Vehicle Industry.
Day 2 of the conferences will focus on strategic alliances within the industry. The seminar room will host the Bumper to Bumper Car Show, showcasing overlanding and off-road car expo, as well as certification trainings. Additionally, the National Federation of Transport Cooperatives will be hosting a National Transport Congress.
Day 3 will be dedicated to seminars for haulers and truckers, discussions on automotive trends, and the conclusion of the Bumper to Bumper Car Show.
