PH car industry grows fastest in ASEAN » Manila Bulletin Business

0
95


Published

By Bernie Cahiles-Magkilat

The Philippines posted the highest growth among ASEAN countries in production and sales of both four and two-wheeled vehicles in the first five months of the year, as it outperformed the region’s biggest motor vehicle producing countries and markets.

Data from the ASEAN Automotive Federation showed the region’s car production in the January-May period reached a total of 1,668,286 units or a flat growth from 1,664,864 units in the same period last year.

Among the six car producing countries in ASEAN, the Philippines posted the highest growth in production with 61,094 units produced in the January-May period this year for an impressive 38.4 percent increase from 44,129 units in the same period last year.

Thailand, ASEAN’s automotive production hub, registered a 4.7 percent decrease to 775,523 units produced from 813,505 units manufactured in the first five months last year.

Indonesia, the region’s largest market, grew by a modest 5.8 percent only to 524,190 units from 495,479 units this year. Malaysia posted flat growth with production of 223,139 units.

Vietnam’s production declined by 6.9 percent to 83,167 units in the first five months of 2017, from 89,334 units in the same period in 2016.

Coming from a very low base, Myanmar actually posted the highest growth in the region in terms of production. From a measly 382 units produced in the same January-May period in 2016, Myanmar’s locally produced cars grew 207 percent to 1,173 units in the first five months this year.

In terms of sales, data showed there were 1,355,585 units sold in the 8 ASEAN member countries. The sales performance was 8.5 percent higher than the 1,249,726 units sold in the same period last year.

Indonesia, the region’s biggest market with a population of over 261 million, registered total sales of 467,181 units, reflecting a 6 percent growth over 440,639 units sold in the first five months of 2016.

Meanwhile, production of motorcycles in the three countries in the region grew 17.4 percent in the January-May period this year to 1,530,959 units from 1,303,590 units.

Likewise, the Philippines posted the highest production growth at 25.2 percent with total production of 503,811 units from 402,456 units.

Thailand’s motorcycle production went up by 15.7 percent to 844,705 units from 730,218 units while Malaysia produced 182,443 units or 6.7 percent higher than 170,916 units in the same period last year.

Sales-wise, the motorcycle market in the region declined by 3.2 percent to 3,786,312 units in the January-May period this year from 3,909,672 units last year.

Among the five ASEAN countries that submitted reports to the federation, the Philippines also posted the highest growth at 13.7 percent with sales reaching 504,931 nits from 444,062 units.

Indonesia’s sales declined by 9.5 percent to 2,321 units from 2,565,452 units while Thailand grew by 6.6 percent to 773,748 units from 725,552 units.

Malaysia also grew 6.8 percent to 182,988 units from 171,261 units and Singapore sold 3,566 units or 6.6 percent higher than 3,345 units sold in the January-May, 2016.

Tags: , , , , ,



All Credit Goes There : Source link

Comments

comments