Thailand
Philippines among weakest markets for motor vehicles in ASEAN
MANILA, Philippines — Motor vehicle and motorcycle assembly and sales in the Philippines declined in January compared to a year ago, as a surge in COVID-19 cases due to the Omicron variant dampened consumer demand and affected operations.
Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed the Philippines was among the weakest performers in terms of motor vehicle production in the region, as automobiles rolled out of the country’s assembly plants were down 8.7 percent to 5,543 units in January from the 6,074 units in the same month last year.
Apart from the Philippines, other countries with lower motor vehicles produced in January were Vietnam and Myanmar.
Meanwhile, the number of motor vehicles produced grew in Indonesia, Malaysia and Thailand.
A total of 332,263 motor vehicles were produced in ASEAN in January, 14.5 percent higher than the 290,267 units in the same month the previous year.
AAF data also showed motor vehicles sold in the Philippines dropped 10.7 percent to 20,879 units in January from 23,380 units in the same month a year ago.
Chamber of Automotive Manufacturers of the Philippines Inc. president Rommel Gutierrez said the industry anticipated bleak growth in January, with sales in the first month of the year historically slow coming from a strong performance during the holiday season.
“Unfortunately, we cannot dismiss the impact of tighter restrictions reimposed in January as new COVID cases rose, particularly in the NCR (National Capital Region) and nearby provinces, resulting in a lukewarm reception for big-ticket items spending,” he said.
Other countries where motor vehicle sales also dipped were Singapore and Myanmar.
On the other hand, motor vehicle sales rose in Indonesia, Thailand, Malaysia, and Vietnam.
Motor vehicle sales in ASEAN rose 24.8 percent to 250,627 units in January from 200,776 units in the same month last year.
Meanwhile, motorcycles assembled in the Philippines slid 8.8 percent to 79,651 units in January from 87,289 units in the same month in the previous year.
Motorcycles produced in Malaysia also decreased 13.3 percent, while Thailand saw a two percent uptick in January.
Motorcycles assembled in ASEAN slid 3.6 percent to 292,622 units in January from 303,704 units in the same month a year ago.
Philippine motorcycle sales were down eight percent to 115,698 units in January from 125,733 units in the same month last year.
Other ASEAN countries where motorcycle sales fell in January are in Malaysia and Singapore, while Thailand posted an uptick.
Total motorcycle sales in ASEAN declined 3.6 percent to 303,611 units in January from 314,947 units in the same month the previous year.
Source: https://www.philstar.com/business/2022/03/07/2165354/philippines-among-weakest-markets-motor-vehicles-asean