{"id":331702,"date":"2025-02-28T00:48:28","date_gmt":"2025-02-27T16:48:28","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331702"},"modified":"2025-02-28T00:48:32","modified_gmt":"2025-02-27T16:48:32","slug":"trade-the-news-gtcap-to-benefit-from-ev-sales-7-expected-growth-this-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-gtcap-to-benefit-from-ev-sales-7-expected-growth-this-year\/","title":{"rendered":"Trade the News: GTCAP to benefit from EV sales’ 7% expected growth this year"},"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 933.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Sales of electrified vehicles (EVs) in the country are expected to track industry growth at seven percent this year, supported by the zero import tariffs on such vehicles and the rollout of new models, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).<\/p>\n\n\n\n

\u201cThe growth of EV sales is expected to track overall industry sales growth, driven by increasing consumer adoption, supportive government policies, expanding charging infrastructure and entry of more players,\u201d CAMPI president Rommel Gutierrez told reporters yesterday.<\/p>\n\n\n\n

Gutierrez said EVs accounted for four percent of total vehicle sales last year or around 18,690 units.<\/p>\n\n\n\n

For this year, he said EVs are expected to still account for four percent of total vehicle sales.<\/p>\n\n\n\n

CAMPI is aiming for vehicle sales to reach a record-high of 500,000 units this year, seven percent higher than the 467,252 units sold last year.<\/p>\n\n\n\n

If this is achieved, a four percent share would translate to 20,000 units of EVs sold this year.<\/p>\n\n\n\n

Data from the CAMPI and Truck Manufacturers Association showed 1,600 EVs were sold in January this year.<\/p>\n\n\n\n

Of the EVs, 1,445 units were hybrid EVs, 146 units were battery EVs and nine were plug-in hybrid EVs.<\/p>\n\n\n\n

Gutierrez said lower prices of EVs due to the government\u2019s move to bring down import tariffs of such vehicles to zero are helping sales.<\/p>\n\n\n\n

In terms of the type of EVs being sold, he said, passenger cars are the popular choice of consumers.<\/p>\n\n\n\n

Asked if there is a chance for the country to locally manufacture EVs, he said this is not expected in the near future because of the need to see high volume of sales first.<\/p>\n\n\n\n

A strong supplier base will also be needed to support local production of EVs.<\/p>\n\n\n\n

Gutierrez said firms selling EVs including Tesla and BYD Cars Philippines have applied to become CAMPI members.<\/p>\n\n\n\n

At present, CAMPI has 24 members.<\/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\n\n\n

<\/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-331702","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\/331702","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=331702"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331702\/revisions"}],"predecessor-version":[{"id":331704,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331702\/revisions\/331704"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}