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Philippine vehicle production picks up by 10% in 2022
MANILA, Philippines — The Philippines posted a 10 percent increase in motor vehicle production in 2022 but it remains behind the majority of its Southeast Asian neighbors.
Based on data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF), 92,223 motor vehicles were assembled in the Philippines last year, higher than the 83,846 units produced in 2021.
In December alone, the country registered the highest growth rate in vehicle production among ASEAN countries tracked by AAF at 57.5 percent with a total of 8,085 units.
However, full-year AAF figures showed that the country posted the slowest growth rate among other ASEAN countries tracked by the AAF.
Myanmar posted the fastest growth at 62.3 percent.
This was followed by Malaysia (45.8 percent) Vietnam (42.3 percent), Indonesia (31.0 percent) and Thailand (11.7 percent).
A total of 4.38 million motor vehicles were assembled in the region last year, 23.9 percent higher than the 3.538 million units in 2021.
In terms of motor vehicle sales, the Philippines sold 352,596 units, up 31.3 percent from the previous year, the third largest growth during the period.
Malaysia had the biggest growth in sales in 2022 at 41.6 percent followed by Vietnam with a 33 percent growth.
Similarly, Indonesia and Thailand posted increases in motor vehicle sales at 18.1 percent and 12.6 percent, respectively.
In contrast, both Singapore and Myanmar posted declines in motor vehicle sales, at 27.8 percent and 24.4 percent, respectively.
Motor vehicle sales in the ASEAN rose by 22.7 percent last year to 3.4 million units from the 2.79 million units in 2021.
Data from the AAF also showed that the Philippines’ motorcycle and scooter production increased by 7.8 percent to 934,685 units.
Both Malaysia and Thailand posted increases in motorcycle and scooter production, with the former posting the largest increase at 38.2 percent.
Motorcycles and scooters assembled within the ASEAN increased by 15.7 percent to 3.6 million units.
Moreover, the Philippines also registered a nine percent increase in motorcycle and scooter sales in 2022 to 1.56 million units.
Malaysia posted the largest increase in motorcycle and scooter sales at 36.9 percent.
Thailand and Singapore also posted increases in motorcycle and scooter sales at 11.5 percent and 5.1 percent, respectively.
Source: https://www.philstar.com/business/2023/02/09/2243535/philippine-vehicle-production-picks-10-2022