PH vehicle production posts highest monthly growth in August
The Philippines’ vehicle production grew by more than a third in August, marking the highest monthly growth rate so far this year and also putting the country in second place among five others of its peers in the Association of Southeast Asian Nations (ASEAN).
Data released on Tuesday by the ASEAN Automotive Federation (AAF), an umbrella group of industry associations from member economies of the regional bloc, showed that there were 10,941 units of new automotive vehicles produced in the Philippines during the month.
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This is equivalent to a 34.7 percent growth compared to the 8,125 vehicle units manufactured during the same month in 2023.
The latest posting brought the country’s year-to-date output to 86,585 units, marking a 17.3 percent growth compared to the 73,789 units produced in the same eight-month period last year.
