Don’t you get tired at reunion parties? You know that OFW relative you have or the Fil-Am guy who doesn’t stop talking about obvious things like Manila traffic, government corruption, and blah blah blah?
That somehow in 2024, the country is still in the dark ages and we should have been as strong as Korea now if we wanted to. Well then at least the Koreans think otherwise.
As reported here by Business World Online, the Philippines is set to become an upper-middle economy in a few years. Now I’m no economist, so I’m not going talk about that, but what I am going to talk about is these days it’s not unusual to see Ferraris, and Lamborghinis at BGC on a Sunday morning.
Ok, maybe that’s not proper middle-class “car” money but look at the lack of stocks on a Honda Civic Type R. Those aren’t cheap. Plenty of Lexus SUVs and even a brand new Toyota Land cruiser are hard to come by but the demand is there.
When Hyundai Philippines introduced the Elantra N and Ioniq 5 N during MIAS 2024 and with all the crazy expensive cars being offered today, I couldn’t help but think “Is this inflation? or is the country getting richer? . There has got to be a reason why these companies are happy to sell these performance vehicles. A lot of people are buying it no doubt & while we still hope that we get more options for budgets like under 1 Million Pesos, car prices will continue to go higher and Filipinos can and will still buy them.
So isn’t this a good sign? (In a weird, car-ish noneconomist way of thinking?)
The only bad sign for me is I still can’t afford either.
