Philippine vehicle production saw a decline in March, marking the first decrease this year. Data released by the Asean Automotive Federation revealed that local assemblers produced 10,407 vehicles in March, a 12.9% drop from the previous year.
This decrease was attributed to a slowdown in automotive sales growth, which only saw a 1.6% increase in March, totaling 37,474 units. Despite this decline, the local automotive sector still achieved a first-quarter growth of 7.7%, driven by strong growth rates in January and February.
Regionally, the Philippines was not alone in experiencing a production downturn. Five out of six Asean countries with assembly hubs recorded declines in output. Indonesia saw the steepest drop at 33.9%, followed by Thailand at 23.1%, Vietnam at 21.2%, and Malaysia at 12%.
In the motorcycle and scooter production sector, Indonesia, Malaysia, Philippines, and Thailand all saw reductions in output in March. Malaysia experienced the most significant cut at 26.8%, followed by the Philippines at 17.2%, Thailand at 9.4%, and Indonesia at 6.3%.
Overall, the six countries produced a total of 318,985 units in March, reflecting a 24.2% decline. The four countries with assembly hubs for two-wheeled vehicles produced a total of 953,315 units, marking a 9.4% contraction.
