Motor vehicle production and sales in the Philippines grew at the fastest pace in Southeast Asia, according to the latest data from the Asean Automotive Federation (AAF).
Data from AAF showed that only the Philippines recorded annual increases of more than 25 percent in terms of sales and production of motor vehicles in January to September among countries belonging to the Association of Southeast Asian Nations.
The country’s motor vehicle output during the 9-month period rose by nearly 35 percent to 84,929 motor vehicles from the previous year’s 63,718 units.
AAF data indicated that Malaysia produced 566,442 motor vehicles, up 11.3 percent from the 508,761units produced in the same period a year ago. This was followed by Thailand, which produced 1,385,971, a 1.6-percent increase from the 1,364,037 units produced last year.
Indonesia produced 1,060,823 units during the 9-month period, but the figure was 0.4 percent lower than the previous year’s 1,065,302 units. Vietnam’s output also declined by 28.7 percent to 123,675 motor vehicles during the period, from 173,401 units recorded a year ago. Among the Asean countries included in the AAF report, Myanmar posted the smallest output at 812 units, a steep drop from the 3,097 units it produced last year.
The six Asean countries produced 3,222,652 motor vehicles in January to September, a 1.4-percent increase compared to the 3,178,316 units they produced in the same period a year ago.
AAF data also indicated that car sales in the Philippines rose by 26.9 percent to 314,843 units from 248,154 units recorded a year ago.
Malaysia is another Southeast Asian country that recorded a double-digit increase in sales. It sold 571,767 motor vehicles during the period, up 11.1 percent from last year’s 514,449 units.
In contrast, the four remaining Asean countries included in the AAF report posted declines in motor vehicle sales during the 9-month period.
Indonesia sold 755,173 units of motor vehicles, down 0.4 percent from the 758,217 units sold in the same period last year. This was followed by Thailand which was able to sell 586,870 motor vehicles, 7.4 percent lower than the 633,687 units it sold in 2022.
Meanwhile, Singapore and Myanmar posted double-digit declines in sales from January to September.
Singapore’s motor vehicle sales dropped by 16.3 percent to 27,108 units, from last year’s 32,372 units.
Myanmar posted the steepest decline in motor vehicle sales at 64.1 percent. Sales plunged to 2,397 units, from 6,672 units in 2022.
The seven Asean countries sold 2,468,087 units in January to September 2023, a 0.9 percent decline from the 2,489,954 units they sold in the same period a year ago.
Image credits: Nonie Reyes