Philippines still fastest-growing ASEAN market for vehicle production

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The Philippines continued to register the fastest growth in motor vehicle production in the ASEAN region as the country posted a 33.3-percent jump in the first nine months of the year.

Based on data from the Association of Southeast Asian Nations Automotive Federation , 84,929 motor vehicles were assembled in the Philippines from January to September, significantly higher than the 63,718 units recorded in the same period last year.

Three other ASEAN countries also posted declines in motor vehicle sales during the period: Vietnam , Singapore , Thailand and Indonesia . On the other hand, Vietnam posted a 15.1 percent decline in motorcycle and scooter production as well as Malaysia with a 12 percent decline. In contrast, Malaysia posted a 14.4 percent decline in motorcycle and scooter sales. It was followed by Vietnam and Singapore with a decline of 14 percent and 2.4 percent, respectively.

 

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