PH still fastest growing market for motorcycles
THE PHILIPPINES remained the fastest growing market for motorcycles and scooters in the first five months of the year, bucking the laggard sales seen in four other countries in the region.
Data from the Asean Automotive Federation (AAF) showed that sales of motorcycles and scooters in the country had surged by 40 percent to 444,062 units in the first five months of year. Singapore followed with an 11.8-percent increase to 3,345 units.
Sales in Malaysia inched up by 0.3 percent to 171,261 units, those in Indonesia and Thailand declined by 3.8 percent and 0.6 percent, respectively.
Cumulatively, the five Asean countries saw total motorcycle and scooter sales inch up by 0.5 percent to 3.9 million units in the first five months, AAF data showed.
In terms of production, the Philippines also registered the fastest growth of 26.9 percent to 402,456 units, compared to three other Asean member economies.
Production of motorcycles and scooters, however, remained biggest in Indonesia, where 1.88 million units were produced in the first five months of the year, followed by Thailand, with 730,218 units. Malaysia produced 170,916 units in the same period.
AAF data also showed that the Philippines recorded the third fastest growth in terms of motor vehicle sales at 25.4 percent to 134,488 units from January to May this year.
Only two other countries in the region recorded increases in motor vehicle sales in the same period: Singapore, which recorded a 76.8 percent increase to 45,601 units and Vietnam, with a 36.6 percent growth to 101,771 units.
