Auto parts and services grow along with the strong vehicle industry in the country.
Pasay City, Philippines—The Philippines’ auto parts sector is robustly growing along with the continuously growing automotive industry in the country. Logically, this is driven by the consistent growth in annual vehicle sales coupled with the inevitably rising demand for automotive aftermarket products and services.
Currently, the Philippine automotive parts sector runs through the operations of over 250 local businesses that are registered for producing and importing up to 330 types of auto parts and components, which in turn are made not just of metals but also of plastic, rubber, and other composite materials. Such enterprises supply items for original equipment manufacturers (OEMs) and independent aftermarket (IAM)--comprising the parts replacement market.