CATS Motors Inc., a major distributor of luxury vehicles in the Philippines, said sales of its products remain strong despite rising inflation.
“Majority of the brands that we operate in form part of the luxury premium or niche so sometimes it’s difficult for me to give a figure because what we do internally is we really subdivide the market very deeply and different areas of the market,” Ang told reporters in an interview following a press briefing on CATS Motors’ joint venture agreement with Inchcape in Taguig City on Wednesday.
Meanwhile, Ang, who’s also the COO of Mercedes-Benz, said the premium German car brand ranked number 1 in the luxury segment prior to the pandemic. However, because of supply issues, Ang said the demand for the car brand has outstripped supply in the last three years.He said supply chain is the culprit behind the backlog, adding that this is already “above and beyond” just the topic of semiconductors as component manufacturers are struggling to ramp up global supply.
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