Village Connect
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) İs 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 cowers more than 250 businesses that produce and impont up to 330 types of parts and components (rmade of rmetals, rubber, plastic, and other Composite materials), Those cormpanies supply íterns for ornginal equiprnent manufacurers (OEMS) and independent aftermarket (IAM) or the parts replacernent market in the country.
APVE also Covers suppliers and spare parts for the growing elecric vehide (EV) setor in the Country. Through Republic Act 11697 or the Electric Vehicie Industry Developrnent Act (EVIDA), sales of electric vehides continue to pick up along with the faster EV 8doption, encouraging public sector support, and dernocratizing costs.
Relevant conferences and seminars
Driven by the continuous improvernent of economic condition, increase of consumer Confidence and the introduction of high technology and innovative aftermarket parts of the vehicde, there is always an affiliated issues connected to the industry, Thus, the inaugural APVE Philippines is facilitating significant conferences and serninars targeted at key stakeholders.
Day 1 ís set for the Philippine Board of Investrments to arrange a serminar about possible tan incentives for investors. The Electric Vehicde Association Philippines (EVAP) will also hold a seninar session to talk about the State of Philippine Electric Vehicde Industry,
Day 2 of the conferences is about strategic alliances in the industry. The serninar room ill hold the Burmper to Burmper 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 dorninated by serninars for haulers and truckes, discussions about autormotive trends, and culmination of the Burnper to Burnper Car Show.
The Auto Parts & Vehlcles Expo (APVE) Phllppines 2024 Is ongoing until June 7 at the World Trade Center Metro Manlla In Pasay City, For Inquirles, visit www.apvexpo.com or contact Belle Tamayo (ermall: Belle.Tamayooinforma.com; landline: +63 8581 1932).
