Philippines still fastest growing motorcycle market in Asean
(The Philippine Star) - March 15, 2016 - 10:00am

MANILA, Philippines – The Philippines remained the fastest growing motorcycle market in Southeast Asia in both sales and production as of January this year, data from the Asean Automotive Federation showed.

Sales of motorcycles and scooters in the country zoomed 36.5 percent to 82,600 units in January 2016 from 60,507 units in the same month last year.

The demand for two-wheeled motor vehicles in the Philippines posted the highest jump among economies monitored by the Asean Automotive Federation.

Thailand’s motorcycle and scooter market was the only other market aside from the Philippines that recorded growth in January with its 8.2 percent climb.

Countries like Indonesia, Malaysia, and Singapore logged sales declines of 13.7 percent, 5.3 percent, and 0.4 percent, respectively.

With the sustained appetite of Filipinos for two-wheeled motor vehicles, motorcycle and scooter sales in the Philippines have likewise continued to outpace demand for automotive vehicles.

Vehicle sales in the country in January stood at 23,808 units, less than half of the 82,600 units of motorcycles and scooters sold locally in the same month.

Industry players said the disparity is due mainly to the affordability of motorcycles as opposed to cars.

They added many Filipinos, especially those in the provinces, still  find using a two-wheeled motorized vehicles more convenient than bulky vehicles.

In terms of sales volume, Indonesia and Thailand remained the region’s largest market having sold 443,449 units and 154,643 units, respectively, in January.

Overall, motorcycle and scooter sales in the region fell 5.1 percent to 717,607 units in January from 756,200 units last year.

Meanwhile, Philippine production of motorcycles and scooters bucked production decline in the region.

The Philippines produced 79,785 units in January, up 19 percent from 67,072 units in the same month last year.

Production in Indonesia decreased 39.7 percent year-on-year, while that of Malaysia and Thailand contracted 9.7 percent and 8.3 percent, respectively.

Total units produced in the region shrunk 26.6 percent to 589,047 units from 802,776 units.

Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with