Home Top News Philippine Feb. motor vehicle output up 20.1%

Philippine Feb. motor vehicle output up 20.1%

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Vehicles are caught in rush hour traffic along EDSA, Oct. 27, 2023. — PHILIPPINE STAR/WALTER BOLLOZOS

THE motor vehicle industry’s output grew 20.1% in February, putting the Philippines among the strongest in the region, though motorcycle production slowed, according to a regional industry association.

The Asean Automotive Federation reported that the Philippines produced 11,608 motor vehicles in February, against a regional average of a 15.6% decline.

Leading the region in production growth was Myanmar, where output more than tripled to 153 units.

The third country posting growth during the month was Malaysia with 2.8% to 65,611 units.

Posting declines were Vietnam (-43.8%), Indonesia (-20%), and Thailand (-19.3%).

In the two months to February, Philippine motor vehicle output grew 20.9% to 22,379 units, the second-strongest growth in the region.

Philippine motor vehicle sales grew in February to 38,072 units, up 23.2%, also the second-strongest growth rate in the region behind Myanmar, which posted sales of 278 units during the month, from 120 a year earlier.

Sales declined in the region by 14.4% led by a 49.5% decline in car sales in Vietnam. Also posting sales declines were Thailand (-26.1%), Indonesia (-18.8%), Singapore (-7.4%), and Malaysia (-1.1%).

In the first two months, Philippine motor vehicle sales were up 19.4% at 72,132 units.

All countries in the region posted declines in motorcycle and scooter output in February. The region’s production fell 11.5% to 322,873 units.

In February, the Philippines posted a 9.5% decline in motorcycle production to 105,307 units.

The biggest decline was seen in Malaysia (-30.3% to 41,796 units).

Motorcycle and scooter production also decreased in Thailand and Indonesia by 6.6% and 3.9%, respectively.

In the first two months, the Philippines produced 208,666 motorcycles and scooters, representing a 13.1% decline from the same period last year. — Justine Irish D. Tabile

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