PH vehicle production accelerates by 21.7% in Jan

MANILA, Philippines  — Vehicle production in the Philippines increased by more than a fifth in January, outpacing the growth seen in three of its five peers in the Association of Southeast Asian Nations (Asean) on robust local demand.

Data released on Wednesday by the Asean Automotive Federation (AAF), an umbrella group from member economies of the regional bloc, showed that 10,771 new vehicles were manufactured during the month.

This marks a 21.7-percent growth compared to the 8,848 vehicles assembled during the same month in 2023.

Among six Asean economies in the AAF’s report, Malaysia had the highest growth rate at 30 percent, producing 76,077 vehicle units in January.