Key Market Indicators
Filipina car registration is projected to hit approximately 220,000 units by 2028, up from about 197,000 units in 2023. This marks an average annual growth rate of 1.8%. Despite this growth, demand in the Philippines has seen a decline of 4.9% per year since 2010. In 2023, the country was ranked 49th in the world, with Denmark slightly ahead at around 197,000 units. Top positions in this ranking were held by Indonesia, Austria, and Belgium. On the production front, Filipina car output is expected to reach nearly 86,000 units by 2028, rising from around 76,000 units in 2023. This represents an average annual growth rate of 2%. Since 2004, the country’s car production has experienced an average annual increase of 8.1%. In 2023, the Philippines was ranked 40th globally, with Colombia slightly ahead at approximately 76,000 units. Leading the production rankings were Japan, Germany, and India.
