MANILA – Entry-level vehicles and those that are used for businesses will drive the Philippine car market until the end of the year.
KIA Philippines president Emmanuel Aligada, in a virtual media launch of the new Stonic on Friday, said the new sales target of the industry for this year is possible to be achieved with a strong interest for entry-level cars and commercial vehicles.
“There’s strong interest in entry-levels, as I have said before. Those who are very conscious and very concerned about safety on travelling as the economy has opened, and therefore the entry-level vehicles are the ones that getting a lot of interest. Plus of course, that those are used for the businesses, the commercial vehicles,” said Aligada.
He mentioned that the industry’s original target for this year was 420,000 units. But due to the challenges brought by the pandemic, the carmakers now eye 275,000 units by end-2020, down by 35 percent from the original target.
He noted that the auto industry had a slight decline last month as the government decided to revert Metro Manila and four other nearby provinces to stricter community quarantine measures.
The industry expects recovery this month as lockdown measures have been eased, added Aligado.
“With about a little over three months left for the year, it looks like we will be able to hit that 275,000 target by the end of the year,” the executive said.
Meanwhile, KIA Philippines unveiled its eleventh car model in the country, the compact crossover KIA Stonic.
With a starting price of PHP675,000, Stonic’s market is the young and active millennials.
KIA Stonic will be launched here on October 15 and will be available in KIA dealerships nationwide.
From 30 dealerships at the start of the year, KIA Philippines eyes to end 2020 with 38 networks nationwide. (PNA)