Philippines Breached The 200 000 unit Vehicle Mark
Manila, Philippines (30 August 2013) – While the Philippines has traditionally been among the lowest in vehicle sales in Asia, observers now believe the Philippine auto market is on a bull run.
Vietnam’s Car Industry Regressing
Car sales in Vietnam has decreased by 27% this year because the cars being sold are priced too high for the average Vietnamese, based on remarks made by Nguyen Manh Quan, the Director of Trade and Industry and Trade Ministry’s Heavy Industry Department. Car prices are higher by 20% or more than other countries in the ASEAN region.
Incredible Shrinking Car!
Finally, someone has come up with the solution of reducing the parking space required instead of increasing it to fulfill demand. The Korea Advanced Institute of Science and Technology proudly showed off the Armadillo-T, a shrinking car that can fold into itself, just like the eponymous animal.
Money Can’t Buy Everything
Berjaya Philippines Inc, owned by Malaysian billionaire Vincent Tan, has made an offer of 130 pound share or GBP23.4 million to purchase the entire issue of London listed, HR Owen Plc. HR Owen is Britain’s largest luxury car dealer of, among others, Ferrari, Lamborghini, Bentley and Rolls Royce. Berjaya Phillipines presently holds a 29.81% interest in the luxury car company.
Move over, Toyota. You’re being tailed.
Indonesia, being the largest economy in South East Asia and having a voracious domestic demand, has global car manufacturers clamouring for a piece of the pie. More than a million cars were sold in 2012 and the tally for 2013 is expected to exceed that already gargantuan number. In the first five months of the year, car sales had already reached 497,670 vehicles.