The Philippines posted the quickest motorized vehicle manufacturing and gross sales development within the Affiliation of Southeast Asian Nations (Asean) area in January to July, in line with the most recent knowledge from the Asean Automotive Federation (AAF).
Knowledge from AAF confirmed that solely the Philippines recorded annual will increase of greater than 30 p.c when it comes to gross sales and manufacturing of motor automobiles through the 7-month interval.
The nation’s motorized vehicle output in January to July rose by almost 37 p.c to 65,934 motor automobiles from the earlier yr’s 48,166 items.
AAF knowledge indicated that Thailand produced 1,071,221 motor automobiles in January to July, up 5.7 p.c from the 1,013,069 items produced in the identical interval a yr in the past. This was adopted by Indonesia, which produced 824,777 items, a 5.5-percent improve from the 781,453 items produced final yr.
In the meantime, Malaysia produced 429,397 items of motor automobiles through the interval, 16.1 p.c greater than the 369,994 items produced a yr in the past.
Vietnam produced 93,468 items through the 7-month interval, however the determine was 31.2 p.c decrease than the earlier yr’s 135,773 items.
Among the many Asean international locations included within the AAF report, Myanmar posted the smallest output at 387 items, a steep drop from the three,048 items it produced in January to July 2022.
The six Asean international locations produced 2,485,184 motor automobiles in January to July 2023, a 5.7-percent improve in comparison with the two,351,503 items they produced in the identical interval a yr in the past.
AAF knowledge additionally indicated that automobile gross sales within the Philippines rose by 31.1 p.c to 239,501 items, from 182,687 items recorded a yr in the past.
Malaysia is one other Southeast Asian nation that recorded a double-digit improve in gross sales. It offered 429,807 motor automobiles in January to July, up 12.6 p.c from the 381,680 items it offered final yr.
Different Asean international locations recorded single-digit will increase or double-digit declines in gross sales, primarily based on AAF knowledge.
Indonesia offered 586,401 items of motor automobiles, up 4.5 p.c from the 561,275 items offered in the identical interval final yr. This was adopted by Thailand which was in a position to promote 464,550 motor automobiles, 5.5 p.c decrease than the 491,329 items it offered in 2022.
Vietnam, in the meantime, posted a 30.2-percent decline in motorized vehicle gross sales to 162,014 items from 232,094 items in January to July 2022.
Singapore additionally posted a double-digit decline in gross sales through the 7-month interval. Gross sales dropped by 18 p.c to twenty,834 items, from final yr’s 25,418 items.
Myanmar recorded the steepest decline in gross sales at 73.9 p.c. Gross sales plunged to 1,666 items from final yr’s 6,382 items.
The seven Asean international locations offered 1,904,773 motor automobiles in January to July, up 1.3 p.c from the 1,880,865 items they offered in the identical interval a yr in the past.