Auto Sector Can Bounce Back But Policy Is Still Crucial

Vehicle sales in the Philippines fell 4% year-on-year (y-o-y) in 2011, as natural disasters in the region created a domino effect, which lasted throughout the last three quarters of the year. The upside to this, is that pent-up demand should generate strong growth in 2012, forecast by BMI to reach 10.7%, as parts and vehicle supplies to the country return to normal. However, as well as taking their toll on sales, the earthquake and tsunami in Japan and the flooding in Thailand underlined the need for the domestic industry to be better developed, which can only be achieved through the

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