The motorcycle market in the Philippines has been expanding in recent years. Total demand in 2016 is forecast to be 1,030,000 units, an increase of 21 percent compared to 2015.
02 Dec 2016 | 6666 Views | By Autocar Pro News Desk
Yamaha Motor Co has announced that local Group company Yamaha Motor Philippines (YMPH) has produced its one-millionth motorcycle, nine years after the company began manufacturing operations in the country.
Yamaha Motor has set up YMPH as a local Group company for the production and sales of motorcycles in May ...
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Yamaha Motor Co has announced that local Group company Yamaha Motor Philippines (YMPH) has produced its one-millionth motorcycle, nine years after the company began manufacturing operations in the country.
Yamaha Motor has set up YMPH as a local Group company for the production and sales of motorcycles in May 2007. In September 2007, a temporary motorcycle manufacturing factory was established in Laguna Province where production of motorcycles in the 105-125cc range commenced.
Following this, a new motorcycle manufacturing facility was set up in the Lima industrial estate in Batangas Province, where full-scale production started in September 2008 in place of the Laguna Province factory.
On the back of solid economic growth, the motorcycle market in the Philippines has been expanding in recent years. The total demand in 2016 is forecast to be 1,030,000 units, an increase of 21 percent compared to the previous year, with Yamaha Motor sales expected to be 260,000 units, up 37 percent compared to the previous year and growing faster than total demand.
In line with this market expansion, Yamaha says it is working toward securing greater market share and higher income by promoting new model launches incorporating the platform strategies outlined in the current Medium-Term Management Plan.