Business Development Asia LLC

South East Asian Automotive News

ISSUE 3, OCTOBER 1997

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PHILIPPINES

As a result of the recent surge in interest rates after the Peso's sharp depreciation, car sales have fallen 4.5% January-August 1996 when compared to the same period in 1996. Domestic car makers are raising prices. Mitsubishi Motors Philippines Corp has announced plans to raise retail prices by an average of 5.4%, and Toyota Motor Philippines Corp is also planning to raise prices. The Peso has depreciated more than 21% in value since July 10th. (September 19^th 1997)

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Recent News:
	Indonesia, Thailand, Malaysia, Singapore, Regional
Focus:
	The impact of South East Asia's financial turmoil on the auto industry

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Business Development Asia LLC, The Economist Building,
111 West 57th Street, Suite 405, New York, NY 10019
Tel (212) 265 5300 Fax (212) 265 4300 E-mail bdallc@aol.com
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