In response to the record-high vehicle sales in the Philippines in 2023, the automotive parts and car care products sectors are poised for significant growth. The inaugural Auto Parts & Vehicles Expo Philippines (APVE) will serve as a timely platform for local and international suppliers to engage in trading, networking, and exchanging ideas and innovations related to automotive parts, accessories, maintenance equipment, and tools.
The three-day event is free entrance to visitors and will run from June 5-7, 2024 at the World Trade Center in Pasay City. It is expected to attract up to 4,000 prospective buyers and sellers from across the country and Southeast Asia. Hundreds of regional and international exhibitors will showcase the latest products and solutions in the evolving auto parts sector.
Automotive sales in the Philippines grew by an impressive 21.9 percent in 2023, reaching a record high of 429,807 units. This exceeded the industry’s annual sales target of 423,000 and surpassed pre-pandemic sales levels. Passenger vehicles accounted for 25.4 percent of the total annual sales, while commercial vehicles made up the remaining 74.6 percent. The local automotive parts sector comprises over 250 businesses producing and importing up to 330 types of parts and components made of metals, rubber, plastic, and other composite materials. These companies supply original equipment manufacturers (OEMs) and the independent aftermarket (IAM) or parts replacement market in the country.
APVE also includes 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 are increasing alongside faster EV adoption, public sector support, and democratizing costs.
Driven by the continuous improvement of economic conditions, increased consumer confidence, and the introduction of high-technology and innovative aftermarket vehicle parts, the inaugural APVE Philippines will host significant conferences and seminars targeted at key stakeholders.
On Day 1, the Philippine Board of Investments will hold a seminar on potential tax incentives for investors. The Electric Vehicle Association Philippines (EVAP) will also conduct a seminar on the state of the Philippine electric vehicle industry.
Day 2 will focus on strategic alliances in the industry. The seminar will feature the Bumper to Bumper Car Show, including overlanding and off-road car expos and certification training. The National Federation of Transport Cooperatives will host a National Transport Congress.
Day 3 will include seminars for haulers and truckers, discussions on automotive trends, and the culmination of the Bumper to Bumper Car Show.
“The first-ever APVE Philippines is designed to be a game-changing platform aimed at bringing together industry leaders, buyers, sellers, and government representatives 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 event organizer. “APVE is also relevant to related industries like mining, construction, logistics, transportation, and agriculture. The auto parts sector in the country is very promising, bolstered by robustly growing vehicle sales,” she added.
For updates on the Auto Parts and Vehicle Expo and their peripheral sectors, visit the official website https://www.apvexpo.com/ and Facebook page https://www.facebook.com/apvexpo
