PH vehicle output zoomed 76.6% in March
MANILA -The number of motor vehicles produced in the Philippines surged by 76.6 percent in March, the fastest among six countries in the Association of Southeast Asian Nations (Asean).
Data released on Friday by the Asean Automotive Federation, an umbrella group of industry associations from member economies of the regional bloc, showed the Philippines produced 11,990 motor vehicle units during the month, higher than the 6,789 units produced in the same month in 2022.
Malaysia and Thailand saw growth in their production lines as well, posting a 27-percent and 4.2-percent increase, respectively.
Myanmar had the most dismal performance among the six countries, seeing a 96-percent plunge in its production during the period.
Meanwhile, Indonesia saw a more moderate 7-percent decline, while Vietnam suffered a larger 21.4-percent drop.
Despite substantial growth in the Philippines’ vehicle output, it continued to lag behind in terms of production volume, settling for fifth place.