{"id":330593,"date":"2024-11-25T16:00:59","date_gmt":"2024-11-25T08:00:59","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330593"},"modified":"2024-11-25T16:01:03","modified_gmt":"2024-11-25T08:01:03","slug":"trade-the-news-auto-sales-seen-speeding-past-500k","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-auto-sales-seen-speeding-past-500k\/","title":{"rendered":"Trade the News: Auto sales seen speeding past 500k"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>GT Capital Holdings<\/td><\/tr>
Stock Code<\/strong><\/td>GTCAP<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 932.13<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Philippine vehicle sales may hit a record-high of 500,000 units next year, driven by election-related spending and low interest rates, according to an industry official.<\/p>\n\n\n\n

Federation of Automotive Industries of the Philippines Inc. president Vicente Mills Jr. told reporters that vehicle sales in the country may reach 500,000 units next year.<\/p>\n\n\n\n

\u201cThe growth factors are the election, plus interest rates are starting to go down,\u201d he said.<\/p>\n\n\n\n

The Philippines is set to hold midterm elections on May 12, 2025 and the automotive industry expects to benefit from campaign-related spending.<\/p>\n\n\n\n

Last month, the Bangko Sentral ng Pilipinas (BSP) reduced the key interest rate by 25 basis points to six percent, continuing the easing cycle it started in August.<\/p>\n\n\n\n

BSP Governor Eli Remolona Jr. has said another interest rate is possible in December.<\/p>\n\n\n\n

As the central bank lowers interest rates, Mills said it becomes affordable to purchase vehicles.<\/p>\n\n\n\n

With the economy expected to continue to improve and post another five to six percent growth, he said vehicle sales would also continue to pick up.<\/p>\n\n\n\n

Vehicle replacement and the rollout of electric vehicles are also expected to drive vehicle demand.<\/p>\n\n\n\n

\u201cI think the trend will be [for vehicle sales] to continue to go up because our fleet, the country\u2019s fleet, is really old. And now that the new engines are coming up, electrification is coming up, people will start converting,\u201d Mills said.<\/p>\n\n\n\n

Earlier, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president Rommel Gutierrez said the country may hit record sales of 500,000 units \u201cif not this year, next year because we are almost there.\u201d<\/p>\n\n\n\n

He also said the industry may achieve the goal to sell 468,300 vehicles this year with demand expected to pick up during the holiday season and new models to be launched in the market.<\/p>\n\n\n\n

Latest data from the CAMPI and Truck Manufacturers Association showed vehicle sales rose by 8.9 percent to 384,310 units in the January to October period from 352,971 units in the same period last year.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330593","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330593"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330593\/revisions"}],"predecessor-version":[{"id":330594,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330593\/revisions\/330594"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}