April 16, 2017

PH auto industry remains 2nd fastest growing in Asia

  • HOME
  • Blog
  • PH auto industry remains 2nd fastest growing in Asia
  • In the latest data released by ASEAN Automotive Federation, the Philippines automotive industry maintained its position as the second fastest growing market in Southeast Asia despite a decline in sales in February.

    The data showed that the Philippine automotive industry percent growth was 17.4 which went second to Myanmar’s year-to-year acceleration of 39.5,  thus moved up to become the second fastest growing automotive market in the opening of 2017, after being ranked third last year.

    A 9% increase in vehicle sales was recorded in the region, with over 507,072 units for the first two months, compared from last year’s 464,997.

    Meanwhile, the Philippine motorcycle market has lost its position as the fastest growing market in the region in terms of sales growth, after being overtaken by Singapore with an 11.2% year-by-year growth.

    According to an article from Philippine Star, in terms of production, a total number of locally produced vehicle in January and February stood at 22,651 units, while motorcycles reach 200,997 units.

     

    Source: www.philstar.com

    Image grabbed from www.topgear.com.ph

    Recent Comments
    What do you think about this article?
    ★★ ★★★ ★★★★ ★★★★★

    *

    You might also like...
    BDO encourages clients to make the shift to EMV-chip card
    September 26, 2017
    Kitsho Japanese Restaurant and Sake Bar’s 1st Anniversary Promo
    September 25, 2017
    Samsung Galaxy Studio now Open at Bonifacio Global City
    September 25, 2017
    #GetSlicked in BGC: Slickville Barbers opens second branch in Uptown Mall
    September 25, 2017
    4th Speed Networking Night held successfully last Sep. 21
    September 25, 2017