The country's auto industry capped the year 2010 with high double-digit growth and more importantly, major accomplishments indicating that the industry as a whole was moving forward, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said.
CAMPI president Elizabeth H. Lee said in a statement that the industry saw a 28 percent growth for January to November, with December sales to be finalized in the regular monthly CAMPI meeting in the coming days.
“For 2011, the industry forecasts an initial 4 to 5 percent growth. The growth rate will likewise be adjusted accordingly on a quarterly basis depending on the overall sales performance. Above all, we reiterate member adherence to high standards of integrity and business practice moving forward this year 2011, supporting the President’s strong anti-smuggling stand and adhering to his ‘Matuwid na Daan’ slogan," Lee said.
â€We are expecting 2011 sales to follow the seasonality of industry sales which was not the case in 2010 due to the elections in the early half of that year as well as post-Ondoy effect,†she added.
There has been a growing movement by a significant number of companies committing to ethical business practices and good corporate governance as a way to proactively help government reduce corruption, level the playing field and build integrity in the business environment -- part of the Integrity Pledge advocated by the large, influential association, the Management Association of the Philippines (MAP), for which all businesses should subscribe to, she noted. - PNA
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