The Philippines’ vehicle output continued its five-month rally in December of last year, posting its second highest monthly growth in the year, but still ended up in fifth place in terms of yearly production among six Asian economies. | AldenMonzonINQ
The Philippines’ vehicle output performed the worst during the months of January, March and July, seeing a decline of -8.7 percent, -18.2 percent, and -8.1 percent, dragging its annual performance.
During the year before the worldwide health crisis, the Philippines’ vehicle output grew by 19 percent to 96,094 units. Myanmar is still in last place, producing only 1,956 vehicle units but saw the highest growth at 62 percent. In terms of vehicle sales, the Philippines placed sixth among the seven countries included in the report. Sales reached 352,596 vehicle units in 2022, up 31 percent compared to the 268,488 vehicle units in 2021.
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