The Philippine automotive industry* ranks fourth in the Association of South East Asian Nations (ASEAN) during the first nine months of 2014 despite posting a double-digit growth from a year ago.
According to the ASEAN Automotive Federation (AAF), vehicle sales in the country registered a growth of 29.2-percent with 169,727 units sold from January to September this year, ranking fourth out of seven ASEAN countries*.
The Philippines was ahead of Brunei, Singapore and Vietnam which posted vehicle sales of 13,722, 33,533 and 90,043 units respectively. However, local vehicle sales still lags behind Indonesia with 932,943 units, Thailand with 648,410 units and Malaysia with 492,305 units.
In terms of production, the Philippines recorded the lowest vehicle output having produced only 67,610 units in the first nine months of the year. Thailand remained on top by producing 1.409 million units from January to September, followed by Indonesia with 993,720 units, Malaysia with 457,167 and Vietnam with 85,842.
Despite having the lowest vehicle output, the Philippine automotive industry could break through the 270,000 unit mark in Q4 as what we have reported last week. With this, the Philippines can set a new industry record if vehicle sales in country continues on this trend.
NOTE: The AAF report factors in the numbers reported by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). The numbers do not reflect the report by the Association of Vehicle Importers and Distributors (AVID) or other non-aligned auto brands in the market.