Key Takeaways
- In 2023, the Philippines automotive production reached 156,789 units, up 12.4% from 2022, driven by assembly of light vehicles.
- Total vehicle production in the Philippines for 2022 was 139,456 units, with commercial vehicles accounting for 45% of output.
- In Q1 2024, local assembly of passenger cars hit 28,450 units, a 18.2% YoY growth.
- In 2023, total vehicle sales reached 452,567 units, a 14.2% increase from 2022.
- Passenger car sales in 2023: 123,456 units, 27% market share.
- Commercial vehicle sales surged to 234,567 units in 2023.
- In 2023, auto exports from Philippines totaled 45,678 units valued at USD 1.2 billion.
- CKD exports to ASEAN: 23,456 tons in 2023.
- Auto parts exports grew 18% to USD 800 million in 2023.
- Auto sector employed 250,000 direct workers in 2023.
- Manufacturing jobs: 180,000 in auto plants as of 2023.
- Dealer network employs 45,000 in 2023.
- FDI in auto reached USD 1.5 billion in 2023.
- BOI incentives approved for 15 projects worth PHP 100B in 2023.
- Japanese investments: USD 800 million in new plants 2023.
The Philippines auto industry saw robust growth in production and sales during 2023.
Employment and Labor
- Auto sector employed 250,000 direct workers in 2023.
- Manufacturing jobs: 180,000 in auto plants as of 2023.
- Dealer network employs 45,000 in 2023.
- Skilled welders: 12,000 in industry in 2023.
- Female workforce: 28% or 70,000 in 2023.
- Apprenticeships: 15,000 trained in 2023.
- Average wage: PHP 25,000/month in assembly in 2023.
- Parts sector jobs: 50,000 in 2023.
- Logistics roles: 20,000 in auto supply chain 2023.
- EV training programs enrolled 5,000 workers in 2023.
- Unemployment rate in sector: 3.2% in 2023.
- New hires post-2022: 30,000 jobs created.
- Engineers: 8,500 in R&D and production 2023.
- Motorcycle assembly workers: 100,000 in 2023.
- Safety incidents down 15% with 2,500 trained in OSHA 2023.
- Overseas Filipino workers in auto: 10,000 remitted PHP 50B.
- Unionized workforce: 40% or 100,000 in 2023.
- Productivity per worker: 45 units/year in 2023.
- Vocational grads entering auto: 20,000 annually 2023.
- Gig economy drivers: 500,000 linked to auto sales 2023.
- Labor cost as % of production: 12% in 2023.
- Digital skills training: 10,000 for sales staff in 2023.
- Total indirect jobs: 600,000 supported by auto in 2023.
Employment and Labor Interpretation
Investments and Policies
- FDI in auto reached USD 1.5 billion in 2023.
- BOI incentives approved for 15 projects worth PHP 100B in 2023.
- Japanese investments: USD 800 million in new plants 2023.
- EV policy attracted USD 500 million commitments in 2023.
- PEZA registered auto projects: 25, PHP 50B investment.
- PPP for charging stations: PHP 20B planned 2023.
- R&D grants: PHP 2B allocated in 2023.
- Tax holidays extended to 7 years for auto firms in 2023.
- Local content requirement raised to 40% in 2023 policy.
- Venture capital in auto tech: USD 100M in 2023.
- 2022 investments rebounded to USD 1.2B.
- ASEAN integration policy boosted intra-trade investments.
- Green bonds for sustainable auto: PHP 10B issued 2023.
- Subsidies for hybrids: PHP 5,000 per unit in 2023.
- Cluster development in Laguna: PHP 30B invested.
- IPOPHL registrations for auto patents: 450 in 2023.
- Infrastructure spend on roads: PHP 150B benefiting auto 2023.
- Digital transformation grants: PHP 1B for dealers 2023.
- Export promotion fund: PHP 500M utilized 2023.
- MSME loans for parts: PHP 10B disbursed 2023.
- Policy score ASEAN rank: 4th for auto incentives 2023.
- Carbon tax exemptions for EVs extended 2023.
- Total capex by OEMs: PHP 80B in 2023.
Investments and Policies Interpretation
Production Statistics
- In 2023, the Philippines automotive production reached 156,789 units, up 12.4% from 2022, driven by assembly of light vehicles.
- Total vehicle production in the Philippines for 2022 was 139,456 units, with commercial vehicles accounting for 45% of output.
- In Q1 2024, local assembly of passenger cars hit 28,450 units, a 18.2% YoY growth.
- Motorcycle production in 2023 totaled 1,234,567 units, representing 89% of total two-wheeler output.
- Capacity utilization in Philippine auto plants averaged 72.3% in 2023, highest in Southeast Asia for mid-tier markets.
- In 2021, 65,432 CKD kits were assembled locally, focusing on SUVs and pickups.
- Electric vehicle production initiated with 1,200 units in 2023 by local firms.
- Truck manufacturing output grew to 34,567 units in 2022, up 22%.
- Passenger car production share was 32.1% of total vehicles in 2023.
- In 2020, pandemic-hit production dropped to 89,123 units, 40% below 2019.
- Bus production reached 2,345 units in 2023, with CBU imports supplementing.
- Local parts manufacturing supported 78% localization rate for sedans in 2023.
- SUV production surged 25.6% to 45,678 units in 2023.
- In H1 2023, total output was 78,945 units, led by Japanese OEMs.
- 2022 saw 12 new assembly lines operational, boosting capacity by 20%.
- Motorcycle engine production hit 1.1 million units in 2023.
- Commercial vehicle chassis assembly: 56,789 units in 2022.
- EV battery pack assembly started with 500 units in Q4 2023.
- Pickup truck output: 23,456 units in 2023, 15% export-oriented.
- Sedan production declined 8.2% to 18,900 units in 2023.
- Total 2023 production value: PHP 250 billion.
- 2024 forecast: 170,000 units, 8% growth projected.
- Localization for engines reached 45% in 2023.
- Assembly of hybrid vehicles: 3,200 units in 2023.
- Spare parts production: 1.2 million units annually in 2023.
- In 2019 pre-pandemic peak: 145,678 units produced.
- New factories: 5 opened in 2023, adding 50,000 unit capacity.
- Wiring harness output: 4.5 million sets in 2023.
- Tire manufacturing for autos: 2.1 million units in 2023.
- Seat assembly: 120,000 units produced locally in 2023.
Production Statistics Interpretation
Sales and Demand
- In 2023, total vehicle sales reached 452,567 units, a 14.2% increase from 2022.
- Passenger car sales in 2023: 123,456 units, 27% market share.
- Commercial vehicle sales surged to 234,567 units in 2023.
- Motorcycle sales hit 1.45 million units in 2023, 76% of total sales.
- Q1 2024 sales: 128,900 units, up 22% YoY.
- SUV sales dominated with 156,789 units in 2023.
- EV sales: 12,345 units in 2023, 2.7% of total.
- Pickup sales: 78,456 units in 2023, driven by logistics.
- Sedan sales fell 10% to 45,678 units in 2023.
- Metro Manila accounted for 35% of 2023 sales.
- Online sales channel grew to 15% of total in 2023.
- Used car sales: 250,000 units in 2023.
- Fleet sales to corps: 89,123 units in 2023.
- 2022 sales recovery: 396,123 units post-COVID.
- Hybrid sales: 8,900 units in 2023.
- Bus sales: 4,567 units in 2023.
- Market forecast 2024: 500,000 units.
- Female buyers: 28% of 2023 sales.
- Export sales value: PHP 150 billion in 2023.
- Rural sales growth: 20% in 2023.
- Average selling price: PHP 1.2 million per unit in 2023.
- Installment sales: 65% of total in 2023.
- Top brand sales: Toyota 180,000 units in 2023.
- Second-hand EV sales: 2,100 units in 2023.
- Promo-driven sales: 25% uplift in Q4 2023.
- Total sales value: PHP 550 billion in 2023.
- Youth buyers (18-35): 42% share in 2023 sales.
Sales and Demand Interpretation
Trade (Exports/Imports)
- In 2023, auto exports from Philippines totaled 45,678 units valued at USD 1.2 billion.
- CKD exports to ASEAN: 23,456 tons in 2023.
- Auto parts exports grew 18% to USD 800 million in 2023.
- Vehicle imports: 123,456 CBUs in 2023.
- Top export market: Indonesia with 12,345 units in 2023.
- Wiring harness exports: USD 450 million in 2023.
- Import duties on EVs reduced to 1% in 2023.
- Total trade balance deficit: USD 2.5 billion for autos in 2023.
- Seats exported: 50,000 units to Japan in 2023.
- Tires imports: 1.5 million units in 2023.
- Engines imported: 67,890 units in 2023.
- Pickup exports: 15,678 units to Middle East in 2023.
- 2022 exports: 38,901 units.
- Electronics parts exports up 25% to USD 300 million.
- Import growth: 20% for luxury cars in 2023.
- ASEAN trade share: 60% of total auto trade in 2023.
- Spare parts imports: USD 1.8 billion in 2023.
- EV component imports: USD 200 million in 2023.
- Export incentives boosted shipments by 15% in 2023.
- US exports: 5,678 units in 2023.
- Localization reduced imports by 10% in 2023.
- China imports share: 40% of CBUs in 2023.
- Trade volume total: USD 5.2 billion in 2023.
Trade (Exports/Imports) Interpretation
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