Following the record-high sales of vehicles in the Philippines in 2023, the sectors for automotive parts and car care products are set to rev up further.
Thus, the first Auto Parts & Vehicles Expo Philippines (APVE), held from June 5 to June 7 at the World Trade Expo, came as a timely platform for local and international suppliers to convene for trading, networking, and exchange of ideas and innovations about automotive parts, accessories, maintenance equipment, and tools.
The inaugural edition of the three-day sectoral event gathered up to 4,000 prospective buyers and sellers from across the country and Southeast Asia. Hundreds of regional and international exhibitors also showcased the latest products and solutions in the evolving auto parts sector.
“The first-ever APVE Philippines is designed to be a game-changing platform aimed at congregating industry leaders, buyers, sellers, and representatives from the government to unlock emerging and potential growth opportunities in the auto parts sector,” said Rungphech Chitanuwat, general manager in the Philippines of Informa Markets, the organizer of the trade event.
“As we have mentioned previously, APVE is also relevant to several related industries like mining, construction, logistics, transportation, and agriculture. Just like in other nations
across the region, the auto parts sector in the country is very promising as it is bolstered along with robustly growing vehicle sales,” she added.
Record-breaking car sales
Overall automotive sales in the Philippines grew by a whopping 21.9% in 2023, accounting to a record-high purchase of 429,807 units. That exceeded the industry’s annual sales target of 423,000 and even outpaced the pre-pandemic sales levels. Passenger vehicles accounted for 25.4% of the actual annual sales figure, while the rest (74.6%) is comprised of commercial vehicles.
The local automotive parts sector covers more than 250 businesses that produce and import up to 330 types of parts and components (made of metals, rubber, plastic, and other composite materials). Those companies supply items for original equipment manufacturers (OEMs) and independent aftermarket (IAM) or the parts replacement market in the country.
APVE also covers suppliers and spare parts for the growing electric vehicle (EV) sector in the country. Through Republic Act 11697 or the Electric Vehicle Industry Development Act (EVIDA), sales of electric vehicles continue to pick up along with the faster EV adoption, encouraging public sector support, and democratizing costs.
Relevant conferences and seminars
Driven by the continuous improvement of economic conditions, increase of consumer confidence and the introduction of high technology and innovative aftermarket parts of the vehicle, there is always an affiliated issues connected to the industry. Thus, the inaugural APVE Philippines is facilitating significant conferences and seminars targeted at key stakeholders.
Day 1 focused on a seminar by the Philippine Board of Investments about possible tax incentives for investors. The Electric Vehicle Association Philippines (EVAP) also held a seminar session to talk about the State of Philippine Electric Vehicle Industry.
Day 2 focused on strategic alliances in the industry. The seminar room was also the venue for the Bumper to Bumper Car Show (featuring overlanding and off-road car expo and a certification trainings). Meanwhile, a National Transport Congress was also held and hosted by the National Federation of Transport Cooperatives.
Day 3 focused on haulers and truckers, discussions about automotive trends, and the culmination of the Bumper to Bumper Car Show.
The Auto Parts & Vehicles Expo (APVE) Philippines 2024 was held from June 5 to June 7 at the World Trade Center Metro Manila in Pasay City. For inquiries, visit www.apvexpo.com or contact Belle Tamayo (email: Belle.Tamayo@informa.com; landline: +63 2 8581 1932).
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