Philippine Vehicle Production Sees Record Growth in August, Surging by 34.7%

The Philippines’ vehicle production surged by 34.7% in August, marking the country’s highest monthly growth rate in 2024 and securing its place as the second fastest-growing automotive producer among ASEAN peers. According to data from the ASEAN Automotive Federation (AAF), the Philippines produced 10,941 vehicles in August, up from 8,125 units in the same month last year.

This substantial growth brings the country’s year-to-date vehicle production to 86,585 units, reflecting a 17.3% increase over the 73,789 units produced during the same period in 2023. The ASEAN Automotive Federation’s latest report underscores the Philippines’ strengthening automotive industry as it capitalizes on regional demand and increased local capacity.