Phl auto sales 3rd fastest in Asean

The Philippines emerged as the third fastest-growing automotive market across Southeast Asia last year, while its motorcycle segment zoomed to become the sole growth market in the region.

Full year data from the ASEAN Automotive Federation showed vehicle sales in the Philippines accelerated 22.9 percent in 2015, the third fastest pace of growth within Association of Southeast Asian Nations (ASEAN) member economies, trailing Singapore and Vietnam.

Vehicle sales in Singapore rose 65.7 percent year-on-year while sales in Vietnam climbed 56.7 percent.

Philippines, Vietnam, and Singapore were the only countries that recorded improvement in motor vehicle sales last year.

The number of vehicles sold in Brunei, Indonesia and Thailand dropped 20.5 percent, 16.1 percent and 9.3 percent, respectively, while Malaysia’s sales finished flat.

As a result, total motor vehicles sold in the seven ASEANmember countries fell 3.8 percent to 3.07 million units last year from 3.19 million units the previous year.

By 2020, sales of the automotive market within ASEANmember economies are projected to reach five to six million units, with Thailand and Indonesia still seen as leaders in the region in terms of volume sold.

Meanwhile, the ASEAN Automotive Federation data also revealed that the Philippines capped off 2015 as the only growth market for motorcycles and scooters in the region.

Sales of two-wheeled motor vehicles in the Philippines last year managed to grow 7.6 percent to 850,509 units from 790,245 units in 2014, bucking lower sales from other markets.

Motorcycles and scooters sold in Indonesia dropped 15.2 percent year-on-year to 6.7 million units while sales in Malaysia fell 14 percent to 380,802 units.

Singapore and Thailand’s motorcycle and scooter sales also decreased 8.4 percent and 3.7 percent, respectively.

In total, motorcycle and scooter sales in the region slipped 11.7 percent in 2015 to 9.59 million units from 10.85 million units the previous year.

Local motor vehicle production, meanwhile, grew 11.2 percent to 98,768 units from 88,845 units in 2015 but remained pale compared to its regional counterparts.

Locally- assembled motor vehicles in Thailand stood at 1.91 million units last year while production in Indonesia stood at 1.09 million units.

Malaysia and Vietnam’s vehicle production output were also larger than that of the Philippines at 614,664 units and 171,753 units, respectively, last year.