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New car prices have been falling for most of 2023, with the average new car selling for $47,936 in October, Kelley Blue Book reported. Overall, new car prices are down 1.4% since October 2022 and ...
The CARS Program was implemented by the Department of Trade and Industry in order to attract and encourage new car companies to produce vehicles in the Philippines [15] and stimulate demand and impose industry regulations that will restore the country's automotive industry, and make the country a regional automotive manufacturing hub, [16] and ...
During the pandemic, car inventory dropped due to supply chain issues that impacted the availability of semiconductor chips, leading to higher prices on vehicles. As new car supply and sales...
The average price paid for a new, non-luxury vehicle in July was $44,700, according to Kelley Blue Book. That was up 0.5% from the previous year but $471 lower than the previous month.
The first electric vehicle battery plant in the Philippines is inaugurated in New Clark City. [392] The Department of Transportation awards Aboitiz InfraCapital with a ₱12.75-billion contract to oversee the rehabilitation of Laguindingan Airport. [393]
From 1987 to 2018, MMPC was the distributor of Mitsubishi Fuso commercial vehicles in the Philippines until Sojitz Fuso Philippines Corporation was established in September 2018. The company's slogan is "Drive your Ambition", which has been part of Mitsubishi Motors' global rebranding since 2018.
At that time, average transaction prices for new vehicles were $38,259,” KBB’s Renee Valdes wrote, underscoring the price gulf that had emerged between 2019’s prices and those closing out 2024.
The new company is a joint-venture between Nissan Motor Company (51%), UMC (24.5%) and Yulon (24.5%). [2] With the establishment of the new company, UMC and NMPI (renamed Univation Motor Philippines, Inc. in October 2014, after the Nissan reorganization) will continue as assemblers for NPI.