Vehicle production in the Philippines recovered in March to 8,298 units, ending the quarter with 19,599 units, a report of the Asean Automotive Federation (AAF) showed.
But the first quarter output level is 13 percent lower than the 22,565 units in the same quarter in 2020. This contraction is 10 times the 1 percent decline registered by the six-vehicle producing countries in Asean.
Philippine vehicle production in March was 88 percent higher than the 4,405 units produced in the same month in 2020 and 59 percent more than the 5,227 units produced in February 2021.
The first quarter contraction decelerated from the 29 percent registered in the whole of 2020.
The report showed Asean motor vehicle production reached 936,463 units in the first quarter from 949,113 units in the same period in 2020.
The Philippines ranked fifth in terms of production in Asean led by Thailand which produced 465,833 units.
