THE ECONOMY OF THE PHILIPPINES IS ON WHEELS – THE AUTOMOBILE INDUSTRY OF THE PHILIPPINES
ALL ABOUT THE AUTOMOBILE INDUSTRY OF THE PHILIPPINES PAST The automobile industry was first established and became operational during the years 1898 to 1946. At that time, the local people used animal-driven vehicles while the elite category of people could only afford these newly introduced vehicles in the market. Initially, imports from US automobile manufacturers dominated the Philippine market such as Mercury, Buick, and Ford. Later, due to various import policies and sanctions, imports of fully built cars got prohibited. PRESENT The automotive or automobile industry of the Philippines is considered one of the biggest industries in the Asia-Pacific region and is placed in 9 th position in terms of annual revenue and growth. You would be surprised to know that most of the vehicles sold in the Philippines belong to international companies and are entirely built domestically. This production of automobiles in the Philippines comes und...