July 23, 2018, 12:00 am
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Assemblers cut output, volume down 40%

Sales and production of motor vehicles in the Philippines continue to lag behind those of its neighbors in Asean as of May data from the Asean Automotive Federation. 

Vehicle output of the Philippines plunged 40 percent to 36,708 units from 61,091 units, and is the fifth lowest volume among the six car producers in the region.

From April’s output of 7,351 units, production fell 23 percent to 5,644 units in May.

The  average monthly  production has significantly gone down this year to about 7,300 units against last year’s  12,000 units.

Asean motor vehicle production remained robust at 1.79 million, an increase of 7.6 percent from  1.67 million last year.

In terms of output, the Philippines is only better than Myanmar which produced 3,652 units.

The region is led by Thailand with output at 867,599 units, an increase of 12 percent from 775,523 units last year.

Vehicle sales in the region went up 4 percent to 1.41 million in the first five months of the year from 1.35 million in the same period in 2017, with the Philippines accounting for just 10 percent  at 142,240 units, down 10 percent from 158,533 units.

In terms of sales, the Philippines fourth outpaced by Indonesia which sold 494,920 units; Thailand, 401,264 units and Malaysia, 225,212 units. 
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