Business

Ayala Group eyes 10% share in car market by 2025

AC Motors, the automotive group of the Ayala Group of Companies, is eyeing to increase its market share to 10 percent in 2025, its president Antonio Zara III said on Saturday.

“Despite the setbacks suffered by the automotive industry in 2020, we continue to work towards achieving at least a 10 percent combined market share by 2025 for all our five brands,” Zara said in a statement.

The brands under AC Motors are Honda, Isuzu, Volkswagen, Kia, and Maxus.

He said AC Motors remains optimistic in the Philippine market despite the current challenges posed by the pandemic.

“Of course, we acknowledge that the local market still needs to recover from the effects of an ongoing pandemic. But history has shown the resilience of our automotive market, time and again, through all manner of crises. We are confident that this time will be no different,” he added.

Affirming his optimism in the recovery of the domestic economy, Zara announced that AC Motors would launch at least six models across the five brands.

The firm also plans to open six company-owned showrooms on top of franchised appointments.

“Through all these times, whether facing challenges or opportunities, we at AC Motors have always placed our customers – the Filipino motorists – at the front and center of our plans. Our unwavering commitment to serve our customers and provide them the products best suited for their needs have kept us moving, adapting, growing, and innovating,” he said. (PNA)

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