PH fastest growing automotive production in ASEAN

Motor vehicle production in the Philippines went up by a significant 28.5 percent in the first ten months of the year, making the country the highest growth among six automotive producing countries in the ASEAN region for the Januaryoctober period.

A report by the ASEAN Automotive Federation (AAF) showed that the six ASEAN countries produced a total of 3,602,988 units from January to October this year, reflecting a measly 0.7 percent increase over 3,576,657 units in the same period last year.

Based on the data, the Philippines was able to produce 94,838 units in the first ten months of the year from 73,823 units in the same period last year for 28.5 percent growth.

But in terms of volume, Indonesia produced the most number of motor vehicles to 1,181,514 units, although a decline of 1.6 percent from 1,200,844 units last year.

Thailand, the second biggest market in the region, was able to produce 1,544,706 units or a flat growth from 1,534,754 units in the same first ten months in 2022.

Malaysia was able to produce 640,633 units or 12.8 percent higher than the 567,752 units in the same period last year.

Vietnam suffered a decline of 28.6 percent but was able to produce a total of 140,112 units from 196,336 units last year. Myanmar reported total production of only 1,186 units from 3,148 units last year. of motorcycles and also registered the biggest growth of 30.2 percent having produced a total of

In terms 1,046,700 units from 804,217 units in the January-october period last year.

Indonesia still logged with the biggest production volume of 5,719,223 units or 19.3 percent more than the 4,793,775 units same period in 2022.

Thailand’s production also reached 1,778,165 units or 8.0 percent higher than the 1,646,426 units last year.

Vietnam emerged as the second largest producer among the six ASEAN countries with 1,962,197 units or a decrease of 26.8 percent from 2,679,717 units in 2022.

Malaysia produced 481,544 units or 13.6 percent down from 481,544 units in the same period last year.

The region produced a total of 10,987,829 units of motorcycles and scooters in the first ten months this year or 4.8 percent higher than the 19,481,722 units in the same period last year.