Philippine carmakers form council

Five Philippine carmakers and a local association of component manufacturers formed the Philippines Automotive Competitiveness Council Inc. (PACCI), the first council of its kind in the country. Members include Ford Group Philippines, Honda Cars Philippines Inc., Isuzu Philippines Corp., Mitsubishi Motors Philippines Corp. and Toyota Motor Philippines Corp., as well as the Motor Vehicles Parts Manufacturers Association of the Philippines (MVPMAP). The group aims to promote domestic manufacturing to make the Philippines more competitive in the international market. The council has hired Deloitte Insights Economics to conduct an independent study of the Philippines’ vehicle manufacturing industry and to propose a road map for the local industry once the study is completed. (February 13, 2009)