PH laggard in vehicle output

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    Vehicle output fell 12 percent in August after three consecutive months of growth, but still ended 4.7 percent higher in the first eight months of the year.

    Data from the Asean Automotive Federation showed production in January to August stood at 58,386 units, placing the Philippines the second to the last among the six automotive producing countries in Southeast Asia.

    That volume is only 2 percent of total Asean production which stood at 2.8 million units in the eight-month period, down 2.8 percent from 2.88 million units a year ago.

    The region’s biggest car producer and exporter to its neighbors, Thailand, accounted for about half of total output at 1.4 million, 1.3 percent less than the 1.42 million produced in 2018.

    At second is Indonesia which produced 831,708 units while Malaysia was at third with 380,940 units.

    Fourth-placer Vietnam produced twice as much as the Philippines with 117,159 units.
    Myanmar produced 10,136 units but grew at a fast pace of 45.9 percent.

    Myanmar and the Philippines were the only countries in the region which registered growth.