Consumer durables is a cataloguing of consumer goods that are not essential to be bought very often as they are fashioned in a way so as to last for an extended period of time. Profits in the consumer durables sector were most profoundly…
BMI View: Robust private consumption and a booming construction sector will translate into growing
demand for both passenger vehicles and commercial vehicles. We therefore forecast growth of 23.6% in
vehicle sales in 2016, reaching 356,758 units sold by year end.
? Robust domestic demand, which is driving economic growth, will bode well for vehicle sales.
? Low inflation and greater access to credit will benefit consumer spending.
? Strong remittance inflows will support private consumption.
? A booming construction sector, supported by a large PPP pipeline, robust property market and stable
monetary policy, will drive growth in the commercial vehicle segment.
? Approval of Mitsubishi Motors Philippines Corporation and Toyota Motors Philippines
Corporation as participating carmakers in governments CARS Program will boost domestic passenger