MOTOR vehicle production in the Philippines grew by 10.3 percent in the first eight months of 2024, the second highest in Southeast Asia, according to data from the Asean Automotive Federation.
Its latest report showed the Philippines manufactured 86,585 units of automotive vehicles from January to August, compared to 73,789 in the same period last year.
For August alone, the country produced 10,941 vehicles compared to the 8,125 units in the same month in 2023.
Myanmar topped the list, posting a 180-percent growth year on year, churning out 1,697 units compared to 606 in the same period last year.
Malaysia also registered an increase in production in the eight-month period, up by 7.8 percent at 536,312 units.
In terms of volume, Thailand recorded the highest vehicle output with 1.005 million units produced from January to August.
The whole Asean region had a collective output of 2.5 million motor vehicles during the period, down by 12 percent from the 2.85 million in the same period last year.
Total motor vehicle sales dropped by 7.7 percent at 2.02 million units compared to 2.19 million from the previous year.
In terms of motorcycle and scooter production, Asean output declined by 1.0 percent at 7.2 million units compared to 7.31 million in 2023.
The Philippines assembled 893,293 units of motorcycles and scooters, a 5.2-percent growth from last year’s 849,394 units.
Sales, meanwhile, increased to 1.09 million units, an increase of 4.9-percent compared to 1.04 million in the previous year.
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