The Philippines ranked third most vibrant automotive market in ASEAN in 2022 after Malaysia and Vietnam as overall regional car sales grew 22.7 percent at par with the 23.9 percent growth in the region’s motor vehicle production.
Data from the ASEAN Automotive Federation (AAF) showed that car sales in 2022 reached 3,424,935 units from 2,791,279 units in 2021. Meanwhile, ASEAN car production in the same year was also higher at 4,383,744 from 3,538,396 units in the previous year.
In terms of carsales, Malaysia posted the biggest growth of 41.6 percent to 720,658 units from 508,883 units followed by Vietnam with 33 percent growth to 404,635 units from 304,149 units.
The Philippines finished third highest growth with 31.3 percent with sales reaching 352,596 units from 268,488 units in 2021.
But Indonesia remained the biggest ASEAN market with 1,048,040 units sold in 2022 or 18.1 percent higher than its 887,202-unit sales in 2021. Thailand, the second biggest ASEAN car market, grew by 12.6 percent to 849,388 units from 754,254 units the previous year.
In terms of car manufacturing, the biggest growth in local production also went to Malaysia with 45.8 percent increase having produced 702,275 units last year from 481,651 units. Vietnam followed with a strong 42.3 percent growth to 232,410 units from 163,271 units in 2021.
Indonesia ranked third biggest growth of 31 percent to 1,470,146 units from 1,121,967 units in 2021.
Thailand, the region’s automotive manufacturing hub, grew its production volume last year by 11.7 percent to 1,883,515 units from 1,685,705 units the previous year. The Philippines also managed to increase its motor vehicle production by 10 percent to 92,223 units from 83,846 units in 2021.
Also, the AAF reported improvements in sales and production volume of production of motorcycles and scooters with the Philippines ranking second in both.
ASEAN countries sold 4,049,598 units from 3,550,848 units or 14 percent growth. Thailand was the biggest market for motorcycles and scooters having sold 1,792,016 units from 1,606,481 units in 2021.
The Philippines was the second biggest market with total sales reaching 1,564,817 units from 1,435,677 units.
But the biggest growth in sales was Malaysia with 36.9 percent for total sales of 680,749 units from 497,262 units. There were only four ASEAN countries that reported sales in motorcycles and scooters.
In terms of production, only three countries filed their reports to the AAF. Thailand reported it manufactured 2,015,940 units from 1,780,654 units or 13.2 percent growth. The Philippines followed with total production of 934,685 units or 7.8 percent higher than the 867,453 units produced in 2021.
Malaysia registered the biggest increase of 38.2 percent for having produced 685,828 units from 496,136 units.