Phl still among top vehicle sellers in Asean

MANILA, Philippines -  The Philippine automotive and motorcycle markets continue to accelerate as they remained among the fastest growing markets in Southeast Asia in the first five months.

Latest data from the ASEAN Automotive Federation showed that the country maintained its position as the second fastest growing automotive market in the region, zooming 17.9 percent during the five-month period.

Myanmar’s automotive market continued to record the region’s fastest increase at 64.4 percent, while that of Thailand placed third, posting a 12.4 percent year-on-year hike.

Indonesia and Malaysia each saw single digit growth while markets in Brunei, Singapore, and Vietnam experienced a slowdown.

Overall, vehicle sales in the region rose 8.5 percent to 1.36 million units.

The Chamber of Automotive Manufacturers of the Philippines Inc. said sustained marketing efforts of local players continue to push sales as reflected in the industry’s end-May sales performance.

Vehicle production in the Philippines also posted the largest year-on-year increase at 38.4 percent among other major automotive manufacturing hubs in the region.

In terms of volume, however, local production of 61,094 units as of the end of May continues to pale in comparison to those of Thailand (775,523 units), Indonesia (524,190 units), and Malaysia (223,139 units).

The country’s motorcycle market, meanwhile, remained the fastest growing in the region after registering a 13.7 percent year-on-year growth in the first five months with sales of 504,931 units.

Motorcycle sales in Malaysia, Thailand, and Singapore rose nearly seven percent, while that of Indonesia declined 9.5 percent.

Total sales of motorcycles and scooters in the region, however, dipped 3.2 percent for the five-month period to 3.79 million units.