MANILA, Philippines - Ford Motor Co. Philippines said that they see an opportunity to grow in terms of exports as the auto industry in Thailand, Indonesia and Malaysia start to recover from the global economic crisis.
Ford president Rick Baker said that they are looking forward to growing this year. Baker noted that there is an opportunity for growth.
“You have to export something because it will benefit the local auto industry,” Baker said. He said this is necessary for the development of the local auto industry.
Baker said that they are looking at exporting the same as last year but insisted that there is a market especially since recovery is expected in the ASEAN region. He said the last three months have been promising.
Likewise, Baker said that the entire industry will be better this year.
Earlier, the Chamber of Automotive Manufacturers Association of the Philippines (CAMPI) said that this year will be better than 2009 with sales expected to grow by four percent to hit 132,000 units.
Last year, CAMPI president Elizabeth H. Lee said they exceeded expectations because they estimated sales at 127,000 units or a 2.3 percent growth from 2008.
“If you remember, at the start of the year, we were hoping for a flat growth as the worst case scenario. So it looks like we’re not only hitting our target, we are going to exceed it,” Lee said.
Lee noted that the growth this year was a direct result of the typhoon replacement rate, overseas Filipino workers’ remittance and the stable financing environment.