By Rui Hu, Editor

On September 16, the PT. Sokonindo Automobile, a subsidiary of the Sokon Group, and the QSJ Motors Phils Inc., a large-scale automobile distribution group in the Philippines, reached cooperation on automobile distribution at China (Chongqing)-Philippines Economic and Trade Exchange Forum. They agreed to introduce 3,000 DFSK SuperCabs produced by the PT firstly. Sokonindo Automobile, with a total amount of more than USD 20 million.

They agreed to introduce 3,000 DFSK SuperCabs produced by the PT firstly. Sokonindo Automobile, with a total amount of more than USD 20 million.

As the bridgehead of Sokon in Southeast Asia, Pt. Sokonindo Automobile shoulders the strategic mission of “based on Indonesia, radiating Southeast Asia and facing the world.” As a member of ASEAN, the Philippines not only features the fourth largest automobile market with excellent development potential in Southeast Asia but also bears the advantage of duty-free export with other ASEAN members and China. For Pt. Sokonindo Automobile, this conforms to its strategic mission and mirrors its exceptional edge. It will strengthen its cooperation with the Philippines with its intelligent plants in Indonesia as manufacturing bases.

Market data shows that total vehicle sales in the Philippines reached 391,400 in 2018, of which 281,900 were passenger vehicles, accounting for about 72%, and 109,500 were commercial vehicles, accounting for about 28%. It can be seen that passenger vehicles occupy the dominant position in the market. On the whole, the Philippine auto market has maintained rapid growth for the past five years. It is expected to grow by 3.3% in 2019 compared with the year of 2018, with rapid growth in market capacity.

Source: CQCB
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