Philippines is one of the countries in the Southeast Asia where the automotive industry has been among the fastest growing.
The automotive and motorcycle industries in the Philippines have maintained their pace as among the fastest growing in the Southeast Asian region as of end of August 2016.
According to the latest report of the Association of Southeast Asian Nations (ASEAN Automotive Federation, the vehicle sales in the Philippines finished with the third fastest growth in the region at 28.3 percent from January to August this year.
According to the report, during the eight-month period, the vehicles sold in the Philippines stood at 229,919 units.
The country stood behind Singapore and Vietnam which registered sales growth of 61.9 percent and 34.5 percent, respectively.
Indonesia recorded a 2.9 percent year-on-year improvement in sales, making it the largest automotive market in Southeast Asia, having sold 691,042 units as of end of August.
Across the SEA, the vehicles sold across seven member economies monitored by the Federation reached 2.04 million units which is up by 3.9 percent from the same period last year.
