Vehicle production in PH up 21% in August
MANILA -The Philippines ramped up its motor vehicle production in August by a little more than a fifth compared to the same month last year.
Data released Wednesday by the Asean (Association of Southeast Asian Nations) Automotive Federation, an umbrella group of industry associations from member economies, showed the Philippines’ vehicle output increased by 21 percent to 8,173 motor vehicle units compared to the 6,752 units made last year.
From January to August, the Philippines had the highest production growth vis-a-vis its neighbors at 34.9 percent but remained in fifth place in terms of volume having assembled 74,107 units during the period.
Only the Philippines and Myanmar saw their production output grow for the month of August alone.
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Asean output
Myanmar, the smallest producer among the six economies, saw its production grow by almost six times to 227 units.
Thailand, which continued to lead in terms of production volume, suffered a 12.3-percent decline, assembling 150,657 units in total.
Indonesia, the second highest producer, saw its output drop by 11.5 percent to 122,970 units.
Vietnam output decreased by 19.9 percent to 14,749 units, while Malaysia’s dipped by 2.1 percent to 67,912 units.
In total, the six countries produced 2,849,88 units from January to August, marking a 3.4-percent increase compared to the 2,756,706 units assembled during the same period last year.
On the other hand, motorcycle and scooter production contracted.
The Philippines had the second largest decline at 32.4 percent, with its output falling to 57,610 units from the 85,250 units produced in August 2022.
