PH Car manufacturing grew 13.2% in January to May 2024

The Philippines’ car manufacturing industry saw mid-double-digit growth in the first five months of 2024, data released by the ASEAN Automotive Federation (AAF) showed.

From January to May, the country produced 54,045 motor vehicles, up 13.2% from 47,761 automotive units manufactured in the same period last year.

In May alone, the Philippines produced 11,650 motor vehicles.

Similarly, car sales in the Philippines are also on the rise as the number of motor vehicles sold in the Philippines rose by 12.7% to 187,191 units in the first five months of the year from 166,104 units in the same period last year.

A report by Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), likewise, said that there were 40,271 units sold in May, up 7.3% compared to the 37,314 units sold in April and 5.5% higher than the 38,177 units sold in May 2023. 

As for the manufacturing of motorcycles and scooters, the Philippines recorded a decline of 4.2% to 544,028 units during the period from 568,118 units in January to May 2023.

The sale of two-wheeled vehicles saw a modest growth of 0.5% in the first five months of the year to 685,314 units sold from 682,035 units sold in the same period last year. —VAL, GMA Integrated News