Vehicle sales in the Philippines for October 2013, as reported by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), came in at 16,800 units, an increase of 11.4% y-o-y. Sales were at an all-time monthly high, playing out our bullish view on the market.

BMI Industry View 7

SWOT 9

Political 11

Economic 12

Business Environment 13

Industry Forecast 14

      Table: Philippines Auto Industry - Sales, 2011-2017 16

      Table: Philippines Auto Industry - Production, 2011-2017 19

      Table: Philippines Automotive Market: Auto Trade Balance 20

Macroeconomic Forecast 22

External Malaise A Drag, But Support Seen In Remittances 23

Investment Boom On Solid Footing 24

GDP Upgrade Well Deserved, But Watch Out For Risks 25

Expenditure Breakdown 26

      Table: Philippines - Economic Activity 27

Industry Risk/Reward Ratings 28

Asia Pacific - Risk/Reward Ratings 28

      Table: Asia Pacific Autos Risk/Reward Ratings 31

Competitive Landscape 32

Passenger Cars 32

      Table: Top 10 Carmakers In Philippines By Sales (Units), Jan-Aug 2013 (Including AVID members) 33

Company News 34

Commercial Vehicles 35

      Table: Philippines Commercial Vehicles - Production & Sales, 2011-2017 35

Motorcycles 36

Suppliers 37

Company Profile 40

Company Monitor - Mazda 40

Toyota Motor Philippines (TMP) 45

Honda Cars Philippines (HCP) 47

Regional Overview 48

Asia Pacific Overview 48

      Table: Selected Asia Pacific Countries' Vehicle Sales, September 2013 And Full-Year 2013 (CBUs) 48

Global Industry Overview 55

Demographic Forecast 59

Demographic Outlook 59

      Table: The Philippines' Population By Age Group, 1990-2020 ('000) 60

      Table: The Philippines' Population By Age Group, 1990-2020 (% of total) 61

      Table: The Philippines' Key Population Ratios, 1990-2020 62

      Table: The Philippines' Rural And Urban Population, 1990-2020 62

Methodology 63

Industry Forecasts 63

Sector-Specific Methodology 64

Sources 64

Risk/Reward Ratings Methodology 65

      Table: Automotive Risk/Reward Ratings Indicators And Weighting Of Indicators 66

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