Motor vehicle production in the Philippines surged by nearly one-fifth last year, making the country the leader in motor vehicle production growth in Southeast Asia. These figures are based on data from the Association of Southeast Asian Nations Automotive Federation (AAF), which recorded that a total of 110,350 units were produced in the Philippines in 2023, up 19.7% from 92,223 units the previous year. Meanwhile, Malaysia ranked second with a growth rate of 10.3%, reaching 774,600 units from 702,275 units previously.
On the other hand, several Southeast Asian countries experienced significant declines in vehicle production. Myanmar experienced the sharpest decline at -53.5%, producing 3,175 units in 2022 and only 1,475 units in 2023. Vietnam and Indonesia also experienced declines of -23.7% and -5.1%, respectively. Vietnam produced 232,410 units in 2022, which fell to 177,435 units in 2023, while Indonesia's production fell from 1,470,146 units in 2022 to 1,395,717 units in 2023.
Meanwhile, Thailand, the most important player in the assembly industry among the six ASEAN countries, experienced a production decline of -2.2%. In 2022, Thailand managed to produce 1,883,515 units, but this figure dropped to 1,841,553 units in 2023.
Overall, the six Southeast Asian countries experienced a -1.9% decline in total motor vehicle production, from 8,838,744 units in 2022 to 4,301,240 units in 2023.
The AAF data also revealed trends in motor vehicle sales in several Southeast Asian countries. Interestingly, the Philippines also recorded the highest sales growth, increasing by 21.9% year-on-year. Sales increased from 352,596 units in 2022 to 429,807 units in 2023. Meanwhile, Malaysia also experienced a sales increase of 10.9%, with total sales increasing from 721,177 units in 2022 to 799,731 units in 2023.
Unfortunately, the remaining countries experienced a decline in vehicle sales, with an overall decline rate of -2.1%. Total sales reached 3,425,454 units in 2022 and declined to 3,355,136 units in 2023.
Myanmar experienced the largest decline in sales at -52.5%, with total sales dropping from 7,068 units in 2022 to 3,357 units in 2023. Vietnam followed with a decline of -25.4%, with sales falling from 404,635 units in 2022 to 301,989 units in 2023.
Meanwhile, Thailand fared better with a decline of -8.7%. Total motor vehicle sales in this country reached 775,780 units in 2023, down from 849,388 units in 2022. Indonesia recorded the lowest rate of decline at -4%, with vehicle sales falling from 1,048,040 units in 2022 to 1,005,802 units in 2023.
