Inaugural Auto Parts & Vehicles Expo Highlights Continuously Robust Growth of Vehicle Industry in PH
The first APVE in PH runs from June 5 to 7 at the World Trade Expo Manila.
Pasay City, Philippines—Following the record-high sales of vehicles in the Philippines in 2023, the sectors for automotive parts and car care products are logically set to rev up further. Thus, the first Auto Parts & Vehicles Expo Philippines (APVE) is coming as a timely platform for local and international suppliers to convene for trading, networking, and exchange of ideas and innovations about automotive parts, accessories, maintenance equipment, and tools.
The inaugural edition of the three-day sectoral event from June 5 to 7, 2024 is gathering up to 4,000 prospective buyers and sellers from across the country and Southeast Asia. Hundreds of regional and international exhibitors are showcasing the latest products and solutions in the evolving auto parts sector.
“The first-ever APVE Philippines is designed to be a game-changing platform aimed at congregating industry leaders, buyers, sellers, and representatives from the government to unlock emerging and potential growth opportunities in the auto parts sector,” said Rungphech ‘Rose’ Chitanuwat, General Manager in the Philippines of Informa Markets, the organizer of the trade event.
“As we have mentioned previously, APVE is also relevant to several related industries like mining, construction, logistics, transportation, and agriculture. Just like in other nations across the region, the auto parts sector in the country is very promising as it is bolstered along with robustly growing vehicle sales,” she added.
Record-breaking car sales
Overall automotive sales in the Philippines grew by a whopping 21.9 percent in 2023, accounting to a record high purchase of 429,807 units. That exceeded the industry’s annual sales target of 423,000 and even outpaced the pre-pandemic sales levels. Passenger vehicles accounted for 25.4 percent of the actual annual sales figure, while the rest (74.6 percent) is comprised of commercial vehicles.
The local automotive parts sector covers more than 250 businesses that produce and import up to 330 types of parts and components (made of metals, rubber, plastic, and other composite materials). Those companies supply items for original equipment manufacturers (OEMs) and independent aftermarket (IAM) or the parts replacement market in the country. APVE also covers suppliers and spare parts for the growing electric vehicle (EV) sector in the country. Through Republic Act 11697 or the Electric Vehicle Industry Development Act (EVIDA), sales of electric vehicles continue to pick up along with the faster EV adoption, encouraging public sector support, and democratizing costs. Relevant conferences and seminars Driven by the continuous improvement of economic condition, increase of consumer confidence and the introduction of high technology and innovative aftermarket parts of the vehicle, there is always an affiliated issues connected to the industry. Thus, the inaugural APVE Philippines is facilitating significant conferences and seminars targeted at key stakeholders.
Day 1 is set for the Philippine Board of Investments to arrange a seminar about possible tax incentives for investors. The Electric Vehicle Association Philippines (EVAP) will also hold a seminar session to talk about the State of Philippine Electric Vehicle Industry.
Day 2 of the conferences is about strategic alliances in the industry. The seminar room will hold the Bumper to Bumper Car Show (featuring overlanding and off-road car expo and certification training). Meanwhile, a National Transport Congress is also being hosted by the National Federation of Transport Cooperatives.
Day 3 will be dominated by seminars for haulers and truckers, discussions about automotive trends, and culmination of the Bumper to Bumper Car Show. The Auto Parts & Vehicles Expo (APVE) Philippines 2024 is ongoing until June 7 at the World Trade Center Metro Manila in Pasay City. For inquiries, visit www.apvexpo.com or contact Belle Tamayo (email: Belle.Tama o «informa.com: landline: +63 2 8581 1932).
