The Philippines recorded the second steepest fall in vehicle sales in Asean in the first five months of the year but posted the second smallest drop in production for the period.
Still, the Philippines continued to lag behind its neighbors in the region both in sales and in output.
Data from Asean Automotive Federation (AAF) showed vehicle sales in the region fell 42 percent to 833,421 units during the period from 1.43 million a year ago. Production plunged 77 percent to 82,023 units from 362,500 last year.
Sales in the Philippines decline 51 percent to 69,563 units from 142,185 units last year, and the fifth largest market among the eight countries tallied by AAF.
Vehicle output was down 27 percent to 23, 781 units from 32,484 a year ago, and the fourth largest volume among the six automotive-producing countries in the region.
The biggest market in Asean, Thailand recorded a 38 percent drop in sales to 270,591 units.
The biggest decline of 52 percent in sales was recorded by the second smallest market in the region Singapore which sold 19,395 units ,
Asean’s biggest automaker, Indonesia, recorded a 32.6 percent decline in volume to 352,569 units but the second largest producer, Thailand, reported the steepest decline of 69 percent to 156,035 units.
