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Manila Bulletin devider Business devider PH posts fastest growth in car, motorcycle production in ASEAN in January

PH posts fastest growth in car, motorcycle production in ASEAN in January

Published Mar 10, 2023 06:22 pm

Production of motor vehicles in the country surged by 60.3 percent in the first month of the year with the Philippines besting the growth of volume car producers in the region, data from the ASEAN Automotive Federation (AAF) showed.

The AAF reported that the region’s motor vehicle production improved by 9.3 percent to 370,899 units from 339,461 units in January 2022.

Philippine motor vehicle assemblers were able to produce 8,886 units in January this year from 5,534 units in the same month last year.

Thailand, the major car producer in the region, was able to grow its production by seven percent but with biggest volume of 162,327 units from 151,747 units produced in January 2022. Indonesia, the largest market, increased local production by 10.7 percent to 132,163 units from 119,432 units in January 2022.

Malaysia, another major market, increased production volume by 36.2 percent to 58,527 units from 42,961 units.

Vietnam, the Philippines closest competitor, registered a significant decline in production by 53.1 percent to 8,988 units from 19,175 units.

On motorcycle production,  the Philippines also reported the biggest increase of 55.4 percent to 123,786 units in January 2022. Malaysia produced a total of 50,255 units or 20 percent more than the 41,868 units sold in the same month last year.

Thailand also grew its production by 9.8 percent to 159,257 units from 145,095 units in January 2022. Singapore contributed 731 units or 23 percent from 950 units.

Together, the four countries produced 361,777 units from 303,611 units. 

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