Motor Vehicle Parts Manufacturers Association of the Philippines Inc. (MVMAP) president Feliciano Torres said yesterday that to be able to attain this forecast, the local vehicle manufacturing industry has to raise its output from the current level of around 82,000 units.
Japan Overseas Development Corp. (JODC) technical expert Kikuo Endo said the Philippines has "most of the ingredients to succeed and develop its local auto parts manufacturing industry."
Endo agreed with Torres’ observation about the need to increase the local output.
"Volume is the most important. High volume creates a more good product," Endo said.
Under the government’s plan for the local motor vehicle industry, Board of Investments (BOI) Managing Head Gregory Domingo disclosed that government is expecting the local car assemblers to reach a production volume of 200,000 to 300,000 units in four to six year’s time.
"Of the target, about 150,000 to 200,000 will be for the domestic market, while 50,000 to 100,000 will be for the export market," Domingo said.
The Philippines is way behind its ASEAN neighbors which are producing around 400,000 to 500,000 vehicles annually.