Vehicle production speeds up in Jan, fastest in Se Asia

Motor vehicle production in the Philippines continued to increase in January, growing 60.3 percent, the highest among its Southeast Asian neighbors.

Based on data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF), 8,886 motor vehicles were assembled in the Philippines, higher than the 5,543 units in the same period last year.

Malaysia followed the Philippines as it posted the second highest growth rate at 36.2 percent.

This was followed by Indonesia (10.7 percent) and Thailand (7.0 percent).

In contrast, Myanmmar posted the largest decline in January at 98.7 percent.

Similarly, Vietnam also posted a 53.1 percent decline in motor vehicle production in January.

A total of 370,899 motor vehicles were assembled in the region in January, 9.3 percent higher than the 339,461 units in the same period last year.

The Philippines also posted the highest growth rate in motor vehicle sales during the month at 42.1 percent, selling a total of 29,499 units, higher than the 20,765 units sold in January 2022.

Malaysia and Indonesia followed the Philippines with a 19.1 percent and 11.8 percent growth in January, respectively.

In contrast, Myanmmar posted the largest decline in motor vehicle sales at 86.1 percent.

Three other ASEAN countries also posted declines in motor vehicle sales in January particularly, Vietnam (-43.7 percent), Singapore (-35.8 percent), and Thailand (-5.6 percent).

Motor vehicle sales in the ASEAN rose by 2.8 percent in January to 258,500.

Data from the AAF also showed that the Philippines’ motorcycle and scooter production jumped by 55.4 percent in January to 123,786 units, the highest among ASEAN countries tracked by AAF.

Both Malaysia and Thailand also posted increases in motorcycle and scooter production at 23.8 percent and 14.6 percent.

Motorcycles and scooters assembled within the ASEAN increased by 27.1 percent in January to 371,907 units.

Moreover, the Philippines also registered a 31 percent increase in motorcycle and scooter sales to 151,534 units from 115,698 units.

Malaysia and Thailand also posted increases in motorcycle and scooter sales during the month at 20.0 percent and 9.8 percent, respectively.

Singapore, on the other hand, posted a 23.1 percent decline in January.

Motorcycle and scooter sales in ASEAN increased by 19.2 percent to 361,777 units from 303,611 units.