Industry Trend Analysis - Philippines And Vietnam Car Production Growth To Lead ASEAN Peers - AUG 2017
BMI View : The Philippines and Vietnam will be the ASEAN region ' s two fastest growing car production hubs over our 2017-2021 forecast period. This will be fuelled by government policy aimed at growing the local automotive industry in the Philippines, announcements of new joint partnerships by foreign automakers in Vietnam and robust consumer demand in both countries.
We forecast car production in the Philippines to grow at an average annual rate of 33.3% over the next five years, making the country the fastest growing car production hub in the Association Of South East Asian Nations (ASEAN) region. Ranking second will be Vietnam, where we forecast car production to grow at an average annual rate of 13.3% over 2017-2021.
Government Policy And New Joint Partnerships Driv e Positive Outlook
|Philippinnes And Vietnam Outpacing The Rest|
|ASEAN - Passenger Car Production, % chg y-o-y|
|e/f = BMI estimate/forecast. Source: National sources, BMI|