Vehicle production plunges to 10-year low – Malaya Business Insight

After rising in 2019, vehicle production in the Philippines plunged to their lowest in 10 years in 2020, data from the Asean Automotive Federation (AAF) showed.

Philippine vehicle output plunged 29 percent from 95,094 units in 2019 to 67,297, their lowest since 2011.

As the second to the lowest producer of vehicles in Asean — better only than Myanmar — the Philippines accounted for 2 percent of total output in the region.

Asean automotive production fell 31 percent to 2.85 million units from 4 million in 2019.

The Philippines recorded zero production in April, the height of the strictest lockdown to prevent the spread of the new coronavirus disease 2019.

Upon resumption of operations in May, assemblers produced 1,216 units.

Sales in Asean fell 29 percent to 2.4 million from 3.46 million in 2019 with Philippine sales plunging 39 percent at 223,793 units from 369,941 units in 2019.

AAF…