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Innovation needed to fuel growth of local auto industry

Philippine auto industry must measure up to Thailand’s success in ASEAN

(Manila, Philippines, March 23, 2010) – The Philippines needs to learn some lessons from Thailand in order to regain a foothold in the Asia-Pacific automotive industry, according to the chief executive of Carryboy Philippines Inc., a leading auto accessories distributor.

Jun Ylagan III, president and CEO of Carryboy Philippines Inc., said that like Thailand, the country needs to “Create an environment that will enable investments to come in and allow the industry to develop the scale needed to sustain growth.”

Thailand currently exports 1.5 million units, making it the biggest auto assembler and market in Southeast Asia. The Philippines’ cost disadvantage relative to Thailand is estimated at US$1,000 per car, according to the authors of a Deloitte study commissioned by the Philippine Automotive Competitiveness Council Inc. (PACCI).

Carryboy Philippines Inc. is the exclusive distributor of Carryboy auto accessories, rear body ambulance, Caravan motor and mobile homes, which are manufactured in Thailand. Its products include canopies, roll bars, motorized roller lid retractable bed covers, nudge guards, stepboards, aluminum roof baskets, wrap-around flares, body cladding set, and drop-in bedliners. The company also supplies original equipment to several auto assemblers.

Ylagan observed that the technology and design capabilities of Carryboy Thailand set it apart from its competitors. “Carryboy is very strong in design and technology. In fact, Carryboy releases new product designs several times a year, making it the trendsetter and market leader in auto styling,” he said.

This innovative design approach makes Carryboy products especially appealing to Filipinos. “From a consumer perspective, Carryboy Thailand’s design aesthetic is not very different from ours,” Ylagan explained. “In Europe, consumers are more likely to choose stainless steel auto accessories. They prefer the polished, classic look. In the Philippines, we see more variety in the types of accessories used. Filipinos simply love to dress up their cars,” he said.

Out of 220 countries, Carryboy Philippines Inc. is Carryboy Thailand’s number one distributor in terms of growth. “We have been distributing Carryboy products for well over a decade. From our experience, we can say that the global quality and reliability these products are fueling demand,” Ylagan said. “This is something that we need to focus on to ensure the success of our auto industry.”

About Carryboy Philippines Inc. Carryboy Philippines Inc. distributes high-quality genuine accessories and auto parts for pick-up trucks, sport utility vehicles, Asian utility vehicles and passenger cars. Carryboy Philippines Inc. is the market leader in auto styling and serves a variety of customers and markets through its competitive sales and service network.