Car sales aren’t the only figures trending upward in the first half of the year. According to the ASEAN Automotive Federation (AAF), the local car manufacturing scene is also looking pretty healthy.
The latest AAF regional car manufacturing statistics show that car manufacturing in the Philippines is up 13.2% over the first five months of 2024. As of May, a total of 54,045 units have been produced in our country this year, compared to just 47,761 units over the same period in 2023.
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Only three ASEAN countries have positive showings in the latest AAF report: The Philippines, Malaysia with 12.2% growth, and Myanmar which showed a mind-boggling 847.2% growth. To put things in perspective, though, only 89 units were made in Myanmar from January to May 2023.
Car manufacturing isn’t looking quite as rosy for our ASEAN neighbors. Thailand, where a large part of our imports are sourced, saw a 16.9% decrease in production. Indonesia’s production is down by 20.6%, and Vietnam’s is down by 8.7%.
As a whole, ASEAN car production has dipped by 12% so far compared to the previous year.
Moving on to motorbikes. Philippine motorcycle manufacturing is down slightly, with 568,118 units produced compared to 544,028 over the same period in 2023. That’s a drop of 4.2%.
Malaysian motorbike production is down by 16.6%, Thailand’s by 9%, and Indonesia’s by 2.4%. Motorcycle manufacturing is down by 4.7% across the ASEAN as a whole.
It’s still just the first half of 2024, so there’s a good chance the ASEAN vehicle manufacturing scene will bounce back over the next few months. Do you have any plans to buy a vehicle later this year?
