South Korea’s Automobile Sales Results in the First Half of 2023

2023-09-22 New!

Automobile sales in South Korea in the first six months of 2023 increased by 10.6% from the same period of the previous year to 896,310 units. In addition to the easing of vehicle supply disruptions, sales were boosted by the reduction of individual consumption tax until June, resulting in a 10% rise from the same period last year. Sales of domestically produced cars increased by 13.5% to 759,321 units, but sales of imported cars continued to decline, going down 2.9%. In full-year 2023, depending on the scale of negative factors, sales are either expeRead more...

Pakistan’s Automobile Sales Results in the First Half of 2023

2023-09-21 New!

In the first half of 2023, the sales of locally assembled vehicles in Pakistan decreased by 69.6% to 44,651 units, a sharp decline compared to the same period of the previous year. In order to maintain the country’s foreign exchange reserves, the Pakistani central bank began de facto import restrictions on CKD kits in May 2022, which constrained supply relative to actual demand, resulting in continued decline in sales. The restrictions continued into 2023, limiting the supply of cars. However, Suzuki, Toyota and other companies say that restrictions haveRead more...

Vietnam’s Automobile Sales Results in the First Half of 2023

2023-09-20 New!

Vietnam’s automobile sales in the first six months of 2023 decreased 32.0% year-on-year to 137,327 units according to the announcement of Vietnam’s automobile manufacturer association VAMA which only releases data on member companies. If the sales total of two non-VAMA members Hyundai Thanh Cong Vietnam, a local subsidiary of Hyundai, and VinFast, a Vietnamese manufacturer which entered the market in 2019, is added to VAMA’s figure, combined sales reach 176,976 units in the first half of 2023. (SUZUKI Kohei) Vietnam: Sales Volume of Automobiles bRead more...

Taiwan’s Automobile Sales Results in the First Half of 2023

2023-09-15

Automobile sales in Taiwan in the first six months of 2023 increased by 15.6% from the same period of the previous year to 234,853 units. In the first half of 2022, sales of imported cars were sluggish due to supply disruptions, but as supply recovered in 2023, the ratio of imported vehicles rose to 49.1%, an increase of 4.7 percentage points. Meanwhile, the market share of Japanese brands decreased by 4.4 percentage points to 55.4% due to the sales expansion of Hyundai Motor, Tesla and MG. In January 2023, Toyota’s local sales company Hotai Motor annouRead more...

Indonesia’s Automobile Sales Results in the First Half of 2023

2023-09-14

Indonesia's automobile sales in the first half of 2023 increased by 6.5% from the same period of the previous year to 505,985 units. In the current fiscal year, although there was no reduction in the luxury tax on automobiles which was reintroduced last year, the steady recovery of the domestic economy provided a tailwind. The top three brands pushed up the market, led by Honda, which significantly expanded sales of its LCGC-compliant model the Brio Satya. Indonesia’s automotive industry association GAIKINDO announced its full year forecast for the domeRead more...

Malaysia’s Automobile Sales Results in the First Half of 2023

2023-09-13

Automobile sales in Malaysia in the first half of 2023 increased by 10.5% year-on-year to 366,037 units, growth continuing from the previous year. This was a new record high for the first half of a year. According to Malaysia’s automotive industry association MAA’s analysis the reasons for strong market performance were the granting of preferential automobile sales tax benefits for new cars reserved by the end of June 2022 until the end of March 2023, the brisk sales performance of national car manufacturers Proton and Perodua, the introduction of new moRead more...

Thailand’s Automobile Sales Results in the First Half of 2023

2023-09-12

Automobile sales in Thailand in the first half of 2023 fell 5.0% year-on-year to 406,131 units. The decrease is said to be due to a decline in consumer appetite for purchasing vehicles triggered by rising interest rates, stricter loan screening, and uncertainty about the future of the global and Thai economies. The Bank of Thailand has raised the policy interest rate for seven consecutive meetings since September 2022, which was 0.75% in August of the same year, increasing to 2.25% in August 2023. Car loan interest rates have been rising in line with polRead more...

Japan’s Sales Results of Imported Vehicle Brands in the First Half of 2023

2023-09-11

In the first half of 2023, sales of imported brand vehicles in Japan increased by 5.4% year-on-year to 122,667 units, going up for the first time in two years. In addition to the C-segment vehicles of BMW and Audi, the expansion of BEVs was conspicuous. However, the percentage of imported brands in the total market decreased by 0.6 points to 5.0%, and the pace of increase was slow compared to the overall market. The decline in market share is believed to be the result of Toyota recovering production after experiencing a supply disruption triggered by theRead more...

Subaru’s Global Financial Results in FY 2022

2023-09-08

Subaru's consolidated results for FY 2022 were 3.77 trillion JPY in sales revenue, up 37.5% year-on-year, and 267.5 billion JPY in operating profit, nearly tripling, marking the first increase in sales and profit in three years. Although the issues of soaring raw material prices and supply shortages of parts such as semiconductors continued, their impact was suppressed by production plan adjustment. Automobile sales also increased, and combined with the effect of price revisions, sales revenue expanded. In addition to strong sales in Subaru’s main marketRead more...

Japan’s Sales Results of Automobiles in the First Half of 2023

2023-09-07

Automobile sales in Japan in the first half of 2023 increased by 17.5% year on year to 2.4 6 million units. Although sales improved compared to the first half of 2022, when automobiles could not be produced due to a serious shortage of semiconductors, demand remained at 90% of the level of 2019 before the spread of the new coronavirus infection. Passenger vehicle sales rose 19.5% year on year to 2.0 5 million units. Of which , standard vehicle s went up 35.9% to 901,000 units, small vehicle s increased by 4.4% to 468,000 units an d mini vehicles ascenRead more...

Suzuki Motor’s Global Financial Results in FY 2022

2023-09-06

Suzuki Motor's consolidated financial results for fiscal year 2022 were as follows: sales increased 30.1% year-onyear to 4.64 trillion JPY, and operating income rose 83.1% year-on-year to 350.6 billion JPY. The automaker increased sales volume in India and Japan and the effects of yen depreciation resulted in significant increases in sales and profits, sales rising to a record high level while profits became the second highest ever. The operating margin went up 2.2 percentage points to 7.6%. (YAMAMOTO Kiyoko) Suzuki Motor: Financial Performance (AcRead more...

Global PHEV / BEV Passenger Vehicle Sales Surpassed 10 Million Units in 2022

2023-09-04

The PHEV / BEV passenger vehicle market in 42 countries around the world is estimated to have reached over 10 million units in 2022, up 60.7% year-on-year. The global market size has been estimated based on production and sales data released by national automobile manufacturers' associations and public relations materials of automakers. The 42 countries covered by this report account for about 85% of the global automobile market. Although the rate of growth slowed down from the previous year (2.1-fold in 2021), the market scale exceeded 10 million units Read more...

Australia’s Automobile Sales Results in 2022

2023-09-01

Australia’s automobile sales increased by 3.0% year-on-year in 2022 to 1.08 million units. However, due to soaring prices triggered by the Russia-Ukraine war and a series of interest rate hikes, consumers tend to refrain from purchasing expensive items. As a result, it is difficult to tell whether sales will continue to grow in 2023. Sales of passenger cars (excluding SUVs) decreased 8.4% year-on-year to 203,056 units. In contrast, SUVs increased 8.1% to 574,632 units, light commercial vehicles went up 1.2% to 256,382 units, and medium and heavy commeRead more...

Mazda Motor’s Global Financial Results in FY 2022

2023-08-31

Mazda Motor’s consolidated financial results for FY 2022 were as follows: sales increased 22.6% year-on-year to 3.8 trillion JPY, operating income went up 36.2% year-on-year to 142.0 billion JPY and net income reached 142.8 billion JPY. Although production and shipment scale decreased due to the COVID-19 lockdown in Shanghai, shortages of semiconductors and car transport ships, and soaring raw material prices and logistics costs, Mazda improved its earnings base by addressing semiconductor shortages through design changes, improving unit prices, controllRead more...

Mitsubishi Motors’ Global Financial Results in FY 2022

2023-08-30

Mitsubishi Motors’ consolidated financial results for FY 2022 were as follows: sales increased 20.6% year-on-year to 2.45 trillion JPY, and operating income surged 2.2-fold year-on-year to 190.5 billion JPY. The operating profit margin improved by 3.5 points yearon- year, reaching a record high of 7.7%. In FY 2022, the insufficient supply of parts, mainly semiconductors, and the increase in costs due to soaring material and logistics costs had a negative impact, but sales increased due to the success of Mitsubishi’s “take-home improvement strategy” and tRead more...

Porsche’s 2022 Automobile Sales Results in Japan

2023-08-29

Porsche's automobile sales in Japan in 2022 increased by 2.6% to 7,193 units. Rising demand for the Cayenne, 911 and Macan contributed to the second highest sales result after 2020. Although sales dropped 4.2% to 3,154 units in the first five months of 2023, full-year demand is expected to surpass 7,000 units as has been the case since 2018. While SUVs accounted for 22% of all Porsche sales in Japan in 2013, their share rose to 48% in the first five months of 2023, reaching the sales share of passenger cars. Such expansion is attributed to the Macan crosRead more...

China’s PHEV Market Grows Faster Than BEV, HEV

2023-08-28

PHEV sales in China are growing at a higher rate than BEV and HEV sales. The reason for this is that BYD's PHEVs are more price competitive than Japanese HEVs. Other Chinese OEMs are also expanding their PHEV lineups, raising the possibility that the Chinese PHEV market will grow to a market size similar to that of BEVs. On the other hand, Japanese HEV sales were trending downward from the same period of the previous year in the first five months of 2023. It is likely that the market presence of Japanese OEMs in China will further decline. BYD's entryRead more...

India’s Automobile Sales by State / Union Territory in 2022

2023-08-24

This report presents the 2022 sales results of automobiles by region and state / union territory. Using India’s automotive industry association SIAM’s classification scheme, the country is divided into four regions: north, south, east and west. In 36 out of 38 states and union territories, automobile sales increased as vehicle supply disruptions due to semiconductor shortages eased. TCompared to the previous year, sales increased 25.9% to 1.32 million units in the north, 23.8% to 6.15 million units in the east, 29.2% to 15.18 million units in the westRead more...

Toyota Motor’s Global Financial Results in FY 2022

2023-08-23

Toyota Motor’s Global Financial Results in FY 2022 Toyota Motor's consolidated financial results for fiscal year 2022 were as follows: operating revenue increased 18.4% year-on-year to 37.2 trillion JPY, but operating income dropped 9.0% year-on-year to 2.7 trillion JPY. Sales increased by more than 5.8 trillion JPY from the previous year, reaching a record high level. Consolidated sales went up 7.2% year-on-year to 8.82 million units, but did not reach the pre-corona level of fiscal year 2019’s 8.95 million units. On the other hand, operating profit Read more...

Evaluation of Global Automakers’ EV Transition

2023-08-22

Evaluation of Global Automakers’ EV Transition The International Council on Clean Transportation (ICCT), a US non-profit organization which provides technical and scientific analysis to environmental regulators, has released a ranking of the top 20 global automakers regarding their efforts toward EV transition. The ranking is based on the evaluation of three areas: market superiority, technical performance and strategic vision. Automakers were evaluated from zero to 100 points. The two OEMs which made it to the top third, Tesla (overall score: 83Read more...

Renault’s 2022 Automobile Sales Results in Japan

2023-08-21

Renault’s 2022 Automobile Sales Results in Japan Renault’s vehicle sales in Japan increased by 12.4% year-on-year to 8,618 units in 2022. The French automaker’s share in the imported vehicle market rose 0.6 percentage points to 2.8% and accounted for 3.6% of the foreign brand market, up 0.6 percentage points from the previous year. Since 2020, both sales volume and market share among foreign brands have been increasing steadily, sales volume reaching a record high in 2022. Renault is launching HEVs equipped with its own EV technology called E-TECH Read more...

South Korea’s Automobile Sales by Segment in 2022

2023-08-10

South Korea’s Automobile Sales by Segment in 2022 The South Korean automobile market (total sales volume of KAMA [Korea Automobile Manufacturers Association] and KAIDA [Korea Automobile Importers & Distributors Association] members) decreased 2.2% fro the previous year to 1,674,913 units in 2022. Although sales of passenger cars decreased by 9.3% year-on-year, sales of SUVs turned to growth and hit a record high. SUVs surpassed passenger cars in the previous year, and the gap between the two categories further widened in 2022. (SUZUKI Kohei) SRead more...

India’s Automobile Sales by Segment in 2022

2023-08-09

India’s Automobile Sales by Segment in 2022 In 2022, the Indian automobile market (total sales volume of SIAM [Society of Indian Automobile Manufacturers] members and major premium brands that are not SIAM members) reached a record high of 4,757,459 units, up 25.8% from the previous year. Although not completely resolved, production restrictions due to disruptions in semiconductor and other parts supply have been eased, allowing backorders that had accumulated to progress. In addition, sales of new SUV models have increased significantly. Sales of Read more...

Indonesia’s Automobile Sales by Segment in 2022

2023-08-08

The Indonesian automobile market grew by 18.1% year-on-year to 1,048,040 units in 2022, surpassing the level of pre-corona 2019. Passenger cars and MPVs reached around 80% and 90% of 2019 levels, respectively, while SUVs continued to drive growth. In the SUV and MPV categories, Indonesia’s two largest classes, the small segments increased over 30% and over 20%, respectively, while the midsize / large segments slightly declined. (SUZUKI Kohei) Indonesia’s Automobile Sales by Segment in 2022 Indonesia: Sales Volume of Passenger Vehicles by SeRead more...

Thailand’s Automobile Sales by Segment in 2022

2023-08-07

Automobile sales in Thailand increased by 14.7% year-on-year to 842,844 units in 2022, surpassing the 80% level of pre-corona 2019. By vehicle type, sales of passenger cars increased 6.3% year-on-year, SUV sales went up 26.6%, setting a record high, and MPV sales rose 45.8%. In the light commercial vehicle category, the sales of one-truck pickup trucks, Thailand’s largest segment, expanded 13.4% to 390,924 units. (SUZUKI Kohei) Thailand’s Automobile Sales by Segment in 2022 Thailand: Sales Volume of Automobiles by Major Segments (2018-2022) Read more...

Taiwan’s Automobile Sales by Segment in 2022

2023-08-07

In 2022, Taiwan's automobile market declined by 4.5% from the previous year to 429,738 units. Sales fell for the second consecutive year due to vehicle supply disruption caused by shortages of parts, mainly semiconductors. Passenger car sales decreased by 1.2% year-on-year to 92,746 units, while SUV sales dropped 10.4% year-on-year to 147,865 units. Passenger car sales continued to decline, but the scale of decrease was small. SUV sales, which had been on the rise, turned to decline for the first time in 10 years. Premium vehicle sales increased by 2.0% Read more...

Vietnam’s Automobile Sales by Segment in 2022

2023-08-03

Vietnam’s vehicle sales increased 20.6% year-on-year to 462,569 units in 2022 (combined vehicle sales data of VAMA members and two non-members Hyundai Motor’s local subsidiary Hyundai Thanh Cong Vietnam (HTCV) and local automaker VinFast, sales exceeding 400,000 units for the first time, setting a record high. This increase is due to the booming economy (annual GDP growth rate of 8.02%) and a 50% reduction in registration fees for CKD vehicles. Passenger car sales rose slightly, going up 0.8% year-on-year. On the other hand, sales of SUVs ascended 32.0% Read more...

The Philippines’ Automobile Sales by Segment in 2022

2023-08-02

Automobile sales in the Philippines increased by 24.2% year-on-year to 364,371 units in 2022, recovering to 90% of the pre-coronavirus 2019 level. The top seven brands (Toyota, Suzuki, Mitsubishi, Honda, Nissan, Ford, Isuzu), which accounted for 86.9% of the market sold 316,681 units. Strong sales in 2022 were driven by the lifting of social restrictions which were in place in 2020 and 2021 due to the outbreak of the pandemic. (SUZUKI Kohei) The Philippines’ Automobile Sales by Segment in 2022 Philippines: Sales Volume of Automobiles of the Top SevRead more...

Malaysia’s Automobile Sales by Segment in 2022

2023-08-01

The Malaysian automobile market in 2022 hit a record high of 72 0,688 units up 41.6% year on year. The top six brands (Perodua, Proton, Toyota, Honda, Mitsubishi, Isuzu), which accounted for 88.0% of the market sold 634,260 units. Following poor sales results in 2020 and 2021 due to the pandemic and insufficient parts supply, all segments saw an increase of 30% or more in 2022 driven by the government’s car sales tax exemption sc heme, economic recovery and the easing of parts shortage. Malaysia: Sales Volume of Automobiles of the Top Six Brands Read more...

Thailand’s Ownership Volume of Motor Vehicles

2023-07-28

Thailand’s ownership volume of automobiles was 20,328,142 units as of the end of 2022, surpassing the 20-million- unit level. Compared to the end of the previous year, the increase was around 612,000 units; however, it was still below the yearly increase of 600,000-800,000 units in the latter half of the 2010s. The ownership volume of motorcycles reached 22,280,735 units. Passenger vehicles rose to 11,34 million units, microbuses / passenger vans to 446,000 units, vans / pickup trucks to 7.08 million units and trucks to 1.22 million units. In contrastRead more...

India / Indonesia / Thailand: Exports Results of Motorcycles in 2022

2023-07-20

In addition to China, Asia’s three major motorcycle exporters are India, Indonesia and Thailand, having an annual export scale of 4 million units, 700,000-800,000 units and around 400,000 units respectively. All three countries increased exports in 2021 against the backdrop of strong global demand for motorcycles. However, from the second half of 2022, motorcycle exports from India and Indonesia significantly declined. Demand for motorcycles in Africa, which accounts for about 50% of India's motorcycle exports, plummeted from the second half of 2022. Read more...

Indonesia’s Sales Results of Motorcycles in 2022

2023-07-19

In 2022, Indonesia’s motorcycle sales increased by 3.2% year-on-year to 5,221,470 units, remaining at 80% of the pre-coronavirus 2019 level. The factors behind the sluggish recovery are believed to be the effects of rising interest rates and insufficient vehicle supply due to semiconductor shortages. Looking at domestic sales in 2022 by vehicle type, scooters accounted for about 88%, while sports and underbone models made up about 6% of the market each. Honda controlled 76.5% of the market, down 1.2 points, followed by Yamaha with 22.1%, up 1.1 points. Read more...

Malaysia’s Ownership Volume of Motor Vehicles

2023-07-14

By the end of 2022, ownership scale of automobiles in Malaysia surpassed 18 million units of which passenger vehicles rose to 16.6 million units, trucks to 1.4 million units and buses to 63,000 units. Overall, automobile ownership increased by over 800,000 units from the end of the previous year thanks to new vehicle sales reaching a record high of 720,000 units. Meanwhile motorcycle ownership expanded to 15.7 million units. The vehicle ownership rate was 551 units / 1,000 people for automobiles and 482 units / 1,000 people for motorcycles, which wereRead more...

South Korea’s Ownership Volume of Motor Vehicles

2023-07-13

As of the end of 2022, the number of automobiles owned in South Korea reached 25.5 million units, an increase of 592,000 units from the end of the previous year. Passenger vehicles rose to 20.95 million units and trucks to 3.69 million units, but buses continued to decrease, dropping down to 724,000 units. The vehicle ownership rate was 496 units per 1,000 people which means that nearly half the population owns a vehicle. Bar graph: South Korea: Ownership Volume of Automobiles by Type (2017-2022) Bar graph: South Korea: Ownership Volume of Electric VRead more...

China’s Passenger Vehicle Imports Dropped 18% in 2022

2023-07-12

Sales of imported passenger vehicles in 2022 decreased by 18.0% from the previous year to 769,286 units in China, marking the third consecutive year of decline since 2020. Amid the sluggish growth of the Chinese economy due to the resurgence of the new coronavirus, the impact of the global shortage of semiconductors and soaring raw material prices was also significant. European vehicle models fell by 18.3% year-on-year to 530,033 units. The market share of European brands shrank by 0.2 percentage points to 68.9%, continuing from the previous year to hRead more...

China Surpasses Japan in Automobile Exports in 2023

2023-07-11

China's automobile exports overtook those of Germany in 2022, becoming the second largest automobile exporter in the world. Since September 2022, China has been exporting over 300,000 units every month. Moreover, exports from January to April 2023 surpassed those of Japan, making China the world's largest exporter, with annual exports expected to exceed 4 million units in 2023. Until now, Japanese automakers mainly competed in the Chinese market with Chinese manufacturers, but in the future, competition will be inevitable in the global market as well. Read more...

Philippines’ Ownership Volume of Motor Vehicles

2023-07-05

By the end of 2022, ownership scale of automobiles in the Philippines surpassed 5.4 million units, an increase of nearly 500,000 units compared to the same period of the previous year. Looking at results by vehicle type, although trucks and trailers declined, MUVs rose to 2.58 million units and SUVs to 965,000 units, becoming the main drivers of the overall market. Passenger cars and buses increased as well, going up to 1.31 million units and 33,000 units respectively. Meanwhile motorcycle and tricycle ownership expanded to 8.42 million units and 44,000 Read more...

Indonesia’s Ownership Volume of Motor Vehicles

2023-07-03

Automobiles ownership in Indonesia reached 22,587,923 units by the end of 2021, an increase of some 1.47 million units from the end of the previous year, of which 16,903,094 units were passenger vehicles, 5,438,475 units were trucks, and 246,354 units were buses. Ownership rate of automobiles stood at 83 units / 1,000 units, of which that of passenger vehicles was 62 units / 1,000 people. Ownership volume of motorcycles went up some 6.19 million units to 121,209,304 units while ownership rate was 444 units / 1,000 people. Graph: Indonesia: Automobile Read more...

India’s Ownership Volume of Motor Vehicles

2023-06-30

India’s latest government figures on vehicle ownership were released in June 2019. According to official data, the country’s automobile fleet stood at 54 million units and motorcycle parc at 221 million units. FOURIN estimates that ownership volume of automobiles and motorcycles were around 64 million units and 300 million units respectively as of the end of 2022. Table data: India: Ownership Volume and Rate of Motor Vehicles by Type (1990 / 1995 / 2000 / 2005, 2006-2019) India: Ownership Volume of Motor Vehicles by Type, Region and Administrative Read more...

Asia’s Ownership Volume of Motor Vehicles in 2022

2023-06-30

By the end of 2022, automobile ownership in Asia (two east Asian countries, 10 ASEAN countries and six south Asian countries) expanded to 183 million units, while motorcycle ownership reached 580 million units. The growth from the end of 2021 was about 8.8 million units for automobiles and about 50 million units for motorcycles. It is speculated that the growth was due to the easing of social restrictions triggered the pandemic and the improving supply of semiconductors. The motor vehicle ownership rate varies from country to country. Among ASEAN counRead more...

Volvo Car’s Sales Results in Japan in 2022

2023-06-28

Volvo Car Japan sold 16,166 units in Japan in 2022, down 2.8% from the previous year. Despite being hampered by delays in delivery and soaring vehicle prices, Volvo’s share in the imported vehicle market increased by 0.3 point to 6.7%, and in the foreign brand market went up by 0.4 point to 5.2%. Volvo’s top three models in Japan were the XC40 (sold 5,866 units, down 8.8%), XC60 (sold 4,003 units, up 12.9%) and V60 (sold 3,113 units, down 18.3%) in 2022. Volvo Car: Sales Volume of Automobiles and Share of Foreign Brand Market (2018-2022) Volvo Car: MRead more...

Read More Reports