Thailand
Philippines 2nd fastest ASEAN motor vehicle market in 2021
MANILA, Philippines — The Philippines closed 2021 as the second fastest growing market for motor vehicles in Southeast Asia, with the number of units produced and sold registering double-digit increases from the previous year.
Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed the number of motor vehicles assembled in Philippine plants accelerated 24.6 percent to 83,846 units last year from 67,297 units in 2020.
The Philippines trailed Indonesia, which posted the fastest growth in motor vehicle output at 62.6 percent last year.
Also posting growth in motor vehicle output last year was Thailand, which climbed 18 percent.
Meanwhile, motor vehicle production declined in Malaysia by 0.7 percent, Vietnam by 1.4 percent, and Myanmar by 81.8 percent.
Motor vehicles produced in ASEAN reached a total of 3.54 million units last year, 24.3 percent higher than the 2.85 million units in 2020.
The Philippines also saw the second fastest growth in motor vehicle sales with 268,488 units sold last year, up 20 percent from the 223,793 units in 2020.
Indonesia saw the highest growth in motor vehicle sales last year at 66.8 percent.
Other ASEAN countries where motor vehicle sales increased last year were Singapore (4.5 percent) and Vietnam (2.5 percent), while Myanmar posted flat growth.
On the other hand, motor vehicle sales in Thailand and Malaysia were down 4.8 percent and 3.9 percent, respectively.
ASEAN countries sold a total of 2.8 million motor vehicles last year, posting a 14.4 percent increase from the 2.45 million units in 2020.
As for motorcycle and scooter production, AAF data showed the Philippines posted the fastest growth at 32.3 percent to 867,453 units last year from 655,440 units in 2020.
Thailand’s motorcycle output grew 10.2 percent while Malaysia’s production rose 0.7 percent.
Motorcycles assembled in ASEAN increased by 13.8 percent to 3.14 million units last year from 2.76 million in 2020.
The Philippines also had the highest growth in terms of motorcycle sales, which rose 19 percent to 1.44 million units last year from 1.21 million.
Other countries where motorcycle sales posted growth were Singapore (8.4 percent) and Thailand (six percent), while Malaysia’s sales contracted by 0.2 percent.
Last year, ASEAN sold 3.55 million motorcycle units, 9.9 percent higher than the 3.23 million units in 2020.
Source: https://www.philstar.com/business/2022/01/31/2157453/philippines-2nd-fastest-asean-motor-vehicle-market-2021