By Rhea Sandique-Carlos
MANILA--Ayala Corp. (AC.PH) said Wednesday that Volkswagen AG
(VOW.XE) has appointed one of the Philippine conglomerate's units
as the local distributor for its passenger vehicles.
In a statement to the stock exchange Wednesday, Ayala said its
Ayala Automotive Holdings Corp. unit would handle distribution for
the German auto maker's vehicles under the Volkswagen marque in the
Philippines.
The German auto maker also makes vehicles under the Audi AG
(NSU.XE) marque, its premium brand.
"We are very excited to bring Volkswagen's technology and
engineering expertise to the Philippine market. This partnership
will no doubt enhance our current portfolio of auto brands," said
Ayala's chief operating officer, Fernando Zobel de Ayala.
The Volkswagen group was the world's second largest automobile
manufaturer in 2011, with global sales of 8.265 million units
accounting for a 12.3% share of the passenger car market.
Mr. Ayala, who is also the company's president, didn't specify
when it would start selling Volkswagen passenger cars or provide
any sales targets.
Apart from Volkswagen, Ayala Automotive Holdings is also the
distributor for Honda and Isuzu brand cars in the Philippines.
Write to Rhea Sandique-Carlos at
rhea.sandique-carlos@dowjones.com
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