Philippine vehicle production nears pre-COVID peak
RISING OUTPUT The local assembly line of Toyota Motors was busier last year as the pandemic eased. —CONTRIBUTED PHOTO
The Philippines’ vehicle output continued its five-month rally in December of last year, posting its second highest monthly growth in the year, but still ended up in fifth place in terms of yearly production among six Asian economies with available data.
Data from the Asean (Association of Southeast Asian Nations) Automotive Federation, an umbrella group of industry associations from member economies of the regional bloc, showed that the Philippines produced 8,085 vehicle units during the month.
This figure is higher by 57.5 percent compared to the 5,132 vehicle units manufactured in December of 2021.
This puts the Philippines’ full year motor vehicle production in 2022 to 92,223 vehicle units, up 10 percent from the 83,846 vehicle units that were produced in the whole of 2021.
The Philippines’ vehicle output performed the worst during the months of January, March and July, seeing a decline of -8.7 percent, -18.2 percent, and -8.1 percent, dragging its annual performance.
Although it posted growth in 2022, it was lower compared to the previous year when it saw a growth of 25 percent.
In 2020, the year of the global outbreak of the coronavirus pandemic, the Southeast Asian country’s vehicle output contracted by 31 percent, producing only 67,297 vehicle units in 2020.
During the year before the worldwide health crisis, the Philippines’ vehicle output grew by 19 percent to 96,094 units.
In the five years prior, the Philippines produced 79,763 vehicle units in 2018, 141,252 vehicle units in 2017, 116,868 vehicle units in 2016, and 98,768 vehicle units in 2015.
Country rankings
Thailand was still the top producer in 2022, growing 12 percent and produced 1,883,515 vehicle units.
It was followed by Indonesia, which grew 31 percent with a production of 1,470,146 vehicle units, and Malaysia, which had a growth rate of 46 percent and an output of 702,275 vehicle units.
Vietnam took the fourth place, manufacturing 232,410 vehicle units, which meant a growth of 42 percent.
Myanmar is still in last place, producing only 1,956 vehicle units but saw the highest growth at 62 percent. In terms of vehicle sales, the Philippines placed sixth among the seven countries included in the report. Sales reached 352,596 vehicle units in 2022, up 31 percent compared to the 268,488 vehicle units in 2021.
Indonesia had the biggest sales volume, seeing an 18 percent growth and selling 1,048,040 vehicle units. This was followed by Thailand with 849,388-unit sales, Malaysia with 720,658-unit sales, and Vietnam with 404,635-unit sales.
The last two spots were occupied by Singapore, which sold 42,550 vehicle units, and Myanmar, with the sale of 7,068 vehicle units.
Of the three countries with available data, Thailand ranked first in terms of production volume in 2022, with an output of 2,015,940 units of motorcycles and scooters and a growth rate of 13 percent.
The Philippines followed at second with 934,685 units of these two-wheeled vehicles, and a growth output of 8 percent. Malaysia produced the least with 685,828 units.
