Businessmen here who are engaged in car dealerships have expressed their support to the government’s vaccination drive, pointing out this is an important step for the economy to fully recover and regain consumer confidence moving forward.
“Amidst the pandemic, we are opening a new shop to inspire other businesses and entrepreneurs to open because our economy is slowly recovering, and to generate more jobs,” Cebuano entrepreneur Joseph Lo, executive vice president of Toyota Mabolo Cebu Inc. Said.
Lo said their expansion signifies their optimism on the recovery of the country’s economy.
“We actually decided to open our showroom amidst the pandemic to inspire other businesses, other entrepreneurs to signify that this is the new normal we should get used to and they should also be opening their businesses as well, to keep the economy running and generate jobs” he added.
Earlier, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) had disclosed that the country’s automotive vehicle sales recovered in the first quarter of 2021 amid the global health and economic crisis.
CAMPI and TMA said vehicle sales from January to March this year posted an 8.9-percent increase compared to January and February 2020, which were pre-pandemic months.
Andre Borromeo, general manager of Fairlane Automotive Ventures Inc. (FAVI), said the car industry is seeing signs of picking up and is banking on the vaccination rollout to return business growth to the pre-pandemic levels.
Despite the economic challenges, Borromeo said the coronavirus disease 2019 (Covid-19) pandemic has sparked the interest of consumers to own cars, especially those avoiding mass transport. This, he said, is giving car dealers an opportunity to take advantage of the improving consumer confidence.