MANILA, Philippines - For the Philippine auto industry at least, it seems good times are a-rolling. The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) reported a sales uptick of 33.8 percent in January from last year’s level – translating to 11,763 units sold. A look at month-on-month comparisons, however, reveals a 13.5-percent dip from December 2009 when figures hit the roof at 13,596. This number represents the single highest monthly sales volume in 10 years – tough act to follow, indeed.
CAMPI, through its president Elizabeth Lee, attributed the healthy total to OFW inflows, a more liquid market – not to mention the continued rise of a young professionals base with purchasing power in the business process outsourcing (BPO) sector.
Car manufacturers are even more optimistic this year – expecting a slice of the massive US$18 billion remittance pie this year, up eight percent.
When the January automobile sales books closed, Honda Cars Philippines, Inc. found itself in strong third with 11.2-percent market share. Given the continued bright prospects for the industry – particularly in the aforementioned niche of OFW remittances – HCPI is poised to take advantage of the robust market.
Launched in 2006, Honda’s CAREmittance program is the first and “probably the most successful OFW program in the industry,” said HCPI Department Head for Vehicle Sales and Corporate Communication Voltaire Gonzales. “The pioneering program enables people to conveniently buy high-quality, brand-new cars over the Internet.”
Originally conceptualized to cater to a growing (and increasingly liquid) number of OFWs and their families, the CAREmittance program shows HCPI’s adroit response to a clear desire of overseas Filipinos to buy a car for their families in the Philippines while they themselves are overseas.
“It entailed initiative and creativity to bring together available resources to create greater value and new benefits,” shared Gonzales.
Successful CAREmittance applications also receive a special package that includes free three-year LTO registration, Hydrophilic Paint Protection, Platinum Tint, seat cover, floor mat, and other premium items.
Since its launch, Honda’s CAREmittance program in 2006 has been a dependable revenue stream that realized the sale of 1,178 units. “Through the years, we have been receiving availments for all models – although the majority of these have been for City and Civic variants. May I also say that the CR-V is also gaining popularity.
“HCPI has been receiving applications worldwide, most of which come from the Middle East, the US, and Southeast Asia. We’ve also noticed that seafarers frequent our website,” continued Gonzales.
He said that despite a minor misstep because of the US market crash not too long ago, HCPl is eagerly projecting sales of 1,000 units this year via the program.
And HCPI is not alone in capitalizing on OFW remittances.
With 20.5-percent market share, Mitsubishi Motors Philippines Corporation is second only to Toyota Motor Philippines Corporation (32.9 percent). It has inked a tie-up with Bank of the Philippine Islands (BPI-Direct) to introduce what it dubs the “Balik-Bayani” Auto Financing program, conceptualized to similarly OFWs who want to own a Mitsubishi vehicle.
That’s only means more good news for Filipinos overseas – and their families here in the country. Now, much like the automobile market, it’s easier for them to get a-rolling too.