PH becomes 2nd vehicle producer, market in ASEAN

Motor vehicle production in the country in the first 10 months of the year jumped more than 30 percent, outpacing ASEAN’s average growth and making the country second fastest growing car producer and market in the region.

Data from the ASEAN Automotive Federation (AAF) showed the Philippines produced a total of 71,758 units, 30.7 percent more than the 54,894 unit output in the same January-October period last year. The country’s automotive output has put the Philippines as the second fastest car producing country in ASEAN.

Likewise, automotive sales in the country grew 23.8 percent to 214,186 units from 173,035 units sold in the first ten months of 2020. This also made the Philippines the second fastest growing market in the region.

The AAF reported that the region’s total automotive production for the period went up 27.3 percent to 2,827,663 units from 2,221,024 units last year.

Thailand, the Detroit of ASEAN, churned out 1,365,984 vehicle units or 22.9 percent higher than the 1,111,546 units in the same period last year.

Indonesia, the biggest market in ASEAN, contributed 892,352 units or 62.4 percent more than the 549 unit output same period last year.

Malaysia’s automotive factory output reached 369,406 units, slightly lower than the 374,462 units produced in the same period last year.

Veitnam’s production grew a modest 5.3 percent to 126,962 units from 120,556 units in the same period last year.

On sales, ASEAN sold a total of 2,173,734 units or 15.7 percent higher than the 1,878,642 units in the same period in 2020.

Of this figure, the Philippines sold 214,186 units or 23.8 percent increase from 173,035 units sold in the January-October period last year.

Indonesia’s sales jumped 67 percent to 703,089 units from 421,064 units in the same period last year while Thailand slightly declined by 2.1 percent to 596,303 units from 608,880 units in the same period last year.

Automotive sales in Vietnam also improved a modest three percent to 218,734 units from 212,410 units last year.