MOTORBIKES SELLING FASTEST IN ASEAN
Report shows PH registers highest sales in motorcycles and scooters in Southeast Asia
THE Philippines registered the highest sales growth in motorcyle and scooter sales in Southeast Asia in the first 10 months of 2016, latest data from the ASEAN Automotive Federation revealed.
The report showed motorcycle sales in the Philippines rose 37.9 percent to 941,847 units from January to October of this year compared to the 683,074 units in same period last year.
After the Philippines, Singapore was the second fastest, with sales growing at 13.8 percent, Thailand with 5.8 percent, and Malaysia with 2.1 percent.
There were 7.91 million motorcycles and scooters sold in five ASEAN countries, including Indonesia. This is 1.2 percent lower from last year’s eight million.
In terms of production, the Philippines also posted the highest growth of 31.8 percent with 866,502 units produced in the first 10 months of the year.
Other countries like Indonesia and Thailand posted a cut in production with 41.4 percent and 0.7 percent decline.
For motor vehicle sales, the Philippines also emerged as the third fastest growing market. It finished recorded a 24.5-percent increase in sales year-on-year.
Singapore registered the highest sales of 50.3 percent while Vietnam had 32.1 percent.
Overall, vehicle sales in the seven ASEAN-member economies improved 3.3 percent as of October, with 2.57 million units sold from 2.49 million units a year ago.
In terms of volume, Indonesia sold the most number of vehicles with 874,847 units, followed by Thailand with 617,159 units. The Philippines produces the least in the region with 96,009 units.
The local automotive industry, however, is confident that it will overachieve the 380,000 car sales target for this year.
The Chamber of Automotive Manufacturers of the Philippines (Campi) estimates 400,000 car sales in 2017 and expects to surpass the 500,000-level by 2020.
Car officials have cited the dynamism of the Philppine economy, evident in the rising income of Filipinos, as a factor that has pushed car sales into another level.