India’s Automobile Sales by Segment in 2023

2024-06-19 New!

In 2023, 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 5,119,776 units, up 7.6% from the previous year, surpassing the 5 million unit-level for the first time. The economy was booming in 2023, with a full-year GDP growth rate of 6.3%, promoting consumption. The increase was around 362,000 units, SUVs accounting for all of that. The market composition ratio of SUVs, which continue to grow in the Indian market, was arRead more...

Indonesia’s Sales Results of Motorcycles in 2023

2024-06-18 New!

In 2023, Indonesia’s motorcycle sales increased by 19.4% year-on-year to 6,236,992 units. Sales continued to decline year-on-year for seven consecutive months from September 2023 to March 2024, but the Ramadan season, when consumption increases, started earlier than last year, resulting in an 18.3% increase in April compared to last year. In Indonesia, when commodity prices such as those of palm oil and coal, which are major export items, rise, the current account balance becomes surplus and the domestic economy gains strength, so demand for motorcyclesRead more...

Malaysia’s Automobile Sales by Segment in 2023

2024-06-14

The Malaysian automobile market in 2022 hit a record high of nearly 800,000 units up 11.0% year-on-year. The market expansion was driven by low interest rates and strong economic performance throughout the year. The top seven brands (Perodua, Proton, Toyota, Honda, Mitsubishi, Mazda, Isuzu), which accounted for 90.7% of the market sold 725,284 units. Passenger car sales increased 12.6% to 424,130 units. Employment as well as GDP per capita rose from 2021 to 2023, resulting in rising demand for relatively inexpensive passenger cars. UV sales went up 8.8%Read more...

EV Diffusion in Major Markets Around the World in 2023

2024-06-12

A comparison of the PEV (PHEV + BEV) penetration status in 2023 in major markets around the world in terms of both EV chargers and new PEV passenger vehicle sales reveals that Scandinavian countries such as Norway and Iceland have a high diffusion rate relative to the population. Meanwhile, in terms of the number of EV chargers per 1,000 people, South Korea ranked high at 4th place with 3.89. The number of PEVs sold per 1,000 people is 2.37 (21st in the world), and the ratio of PEVs to passenger vehicle sales remains at 8.1% (24th in the world), indicatRead more...

BYD: Strong Automobile Sales Led to Increased Revenue and Profits in 2023

2024-06-06

BYD, a major Chinese electric vehicle manufacturer, is seeing its profits grow as its vehicle sales increase. BYD's automotive-related business recorded sales of 483.5 billion CNY in 2023, up 48.9% from the previous year. The proportion of this figure to total sales is 80.3%, up 3.7 points from 76.6% in 2022. Looking at sales by market (including non-automotive businesses), the Chinese market increased 32.9% year-on-year to 442.1 billion CNY. Due to the expansion of electric vehicle sales in overseas markets, the proportion of the Chinese market in totalRead more...

China’s EV Battery Charging / Swapping Infrastructure As of 2024

2024-06-05

As NEV ownership increases in China (20.41 million units at the end of 2023), the country’s charging infrastructure is also expanding. According to the EV Charging Infrastructure Promotion Alliance (EVCIPA), as of the end of April 2024, the number of chargers, both public and residential ones, stood at 9.6 million. Looking at recent trends, there has been an increase in home chargers which simplify the installation procedure. Several OEMs, including NIO, Xpeng, and VW through its subsidiary CAMS, are installing public chargers for general use. However, Read more...

Suzuki Motor’s Sales and Export Results Reached Historic High Level in India in 2023

2024-05-30

Suzuki Motor’s automobile sales, production, and exports in India in FY 2023 reached record highs. Results were driven by utility vehicles (SUVs, MPVs, etc.) whose product lineup is expanding. Three new models were released in FY 2023, the Fronx, Jimny, and Invicto. Automobile sales in FY 2023 were 1,793,644 units, an increase of 9.0% from the previous year, of which passenger cars accounted for 980,446 units, a decrease of 11.6%, and utility units for 642,296 units, an increase of 75.4%. Utility vehicles made up for the decline in passenger car sales, Read more...

Asia’s Export and Import Results of Motor Vehicles and Parts in 2023

2024-05-27

This report covers the export and import results of motor vehicles and related parts (classified under HS Code 87) of eight Asian countries (India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand, Vietnam) in 2023. The total export value of motor vehicles and parts of India, Malaysia, the Philippines, and Taiwan declined, while that of Thailand, Indonesia, Vietnam, and South Korea increased. Meanwhile, the import value exceeded the previous year’s level in seven countries except Vietnam. The easing of restrictions on automobile productionRead more...

Considering the Synergies of the Honda-Nissan Business Alliance Concept in Asia

2024-05-23

On March 15, 2024, two Japanese automakers Honda Motor and Nissan Motor announced that they have signed a memorandum of understanding to conduct specific discussions toward forming a strategic partnership regarding the electrification and intelligence of automobiles. At the press conference held on the same day, two specific areas of collaboration were raised in-vehicle software platforms, and mutual complementarity between BEV core components and products, but the two companies also expressed the possibility of collaboration in a wide range of other areRead more...

South Korea’s Export Results of Automobiles in 2023

2024-05-20

South Korea's automobile exports (CBUs only) increased by 20.3% from the previous year to 2,766,271 units in 2023. Overall sales were boosted by orders from developed countries such as North America and Europe, which are the largest export destinations, and which had built up a backlog of orders. In terms of export value, exports increased by 31.5% year on year to 64.6 billion USD, setting a record high for the third consecutive year. Passenger vehicle exports increased 20.5% to 2,672,220 units, while commercial vehicles rose 13.9% to 94,051 units. WithRead more...

Indonesia’s Export Results of Automobiles in 2023

2024-05-16

Indonesia's automobile exports increased by 6.7% from the previous year to 505,134 units in 2023. Exports to the Philippines, Indonesia’s largest export destination, increased by over 20% year-on-year, and exports to Mexico nearly doubled, setting a record high for the second consecutive year. Although Toyota, the largest exporter, decreased slightly, Honda and others increased exports significantly. Looking at exports by destination, exports to Asia increased slightly by 0.9% from the previous year to 272,969 units. Exports to the Philippines increasedRead more...

Thailand’s Automobile Export Results in 2023

2024-05-10

Thailand’s automobile export volume in 2023 increased by 11.7% from the previous year to 1,117,539 units. Solid growth in one-ton pickup truck and PPV exports and rising exports to Oceania and the Middle East contributed to the increase. Export volume remained at the 1-million-unit level, the same level as before the coronavirus outbreak, for the second time in a row. Looking at exports by vehicle body type, passenger cars increased by 16.8% year-on-year to 330,745 units, and one-ton pickup trucks and PPVs rose by 9.7% to 786,794 units. According to theRead more...

India’s Automobile Export Results in 2023

2024-05-08

Automobile exports from India (CBUs only) increased by 4.2% from the previous year to 756,207 units in 2023, showing a recovery trend for the third consecutive year. Exports of passenger vehicles went up by 5.2% to 678,071 units driven by the exportation of new models and an increase in utility vehicle (SUVs, MPVs etc.) exports. In contrast, commercial vehicle exports declined by 3.5% to 78,136 units. In 2023, the ratio of exports to automobile production fell by 0.4 points to 13.0%. Looking at the top three exporters, Maruti Suzuki maintained its lead Read more...

Taiwan’s Automobile Production and Exports Results in 2023

2024-04-26

Taiwan’s automobile production in 2023 increased by 8.5% from the previous year to 283,531 units. Production for the domestic market rose 7.5% from the previous year, while exports went up 15.1%. Although production has not exceeded the 300,000-unit level since 2017 due to a decline in exports, it was the highest since 2017. In addition to the Toyota brand, production was particularly driven by the MG brand, whose local manufacturing began in September 2022.</p> Automobile exports increased by 15.1% from the previous year to 42,120 units. Toyota accountRead more...

South Korea’s Automobile Production Results in 2023

2024-04-23

South Korea's automobile production volume in 2023 increased by 13.0% from the previous year to 4,243,597 units following the normalization of automotive semiconductor and other parts supply. Production exceeded the 4 million level for the first time in five years since 2018. Hyundai and GM Korea both increased sales by more than 200,000 units from the previous year. In addition, vehicle exports increased significantly by 20.3% to nearly 2.8 million units, accounting for approximately 65% of all production. The production of passenger vehicles increaseRead more...

Japan’s Sales Results of Light Passenger Vehicles in 2023

2024-04-18

Japan’s light passenger vehicle sales in 2023 increased by 9.5% from the previous year to 1,341,330 units, turning positive for the first time in five years. The impact of production cuts caused by shortages of semiconductors and other parts that began in 2021 improved in 2023. The previously long period from order receipt to vehicle delivery has shortened, and production has increased as parts procurement normalized. Market leader Perodua’s production volume increased by 18.8% from the previous year to 343,400 units, the highest ever. TheMarket leaderRead more...

Malaysia’s Automobile Production Results in 2023

2024-04-16

Malaysia's automobile production in 2023 was the highest ever at 774,600 units, an increase of 10.5% from the previous year. The local automakers’ association, MAA, cited the sales tax exemption measure and improvements to the supply chain environment as reasons. Furthermore, in 2023, the number of automobiles sold increased due to stable prices and policy interest rates throughout the year, which encouraged purchasing appetite, resulting in a rise in the number of automobiles produced.Production of passenger vehicles increased by 11.7% from the previousRead more...

ASEAN’s Motorcycle Production Results in 2023

2024-04-11

Motorcycle production in ASEAN countries (this reports covers five nations, Indonesia, Vietnam, Thailand, Philippines, and Malaysia) was 13,434,842 units, an increase of 3.0% from the previous year. Vietnam’s sales decreased by 647,000 units, and Malaysia’s sales fell by 136,000 units compared to 2023. On the other hand, Indonesia, the largest motorcycle producer in ASEAN, increased by 842,000 units, the Philippines by 232,000 units, and Thailand by 105,000 units, resulting in a total rise of 395,000 units in the five ASEAN countries. Indonesia’s producRead more...

Indonesia’s Automobile Production Results in 2023

2024-04-10

Indonesia's automobile production volume in 2023 decreased by 5.1% from the previous year to 1,395,717 units, which was a drop from the previous year’s record high but remained at a high level. CBU exports reached an historic high of approximately 500,000 units, but overall production scale was dragged down by a contraction in domestic demand, which decreased by 4.0% year on year to 1.01 million units. Looking at production by vehicle type, passenger vehicle production decreased by 2.8% from the previous year to 1,180,355 units, and production of commerRead more...

Thailand’s Automobile Production Results in 2023

2024-04-05

Thailand’s automobile production in 2022 decreased by 2.6% from the previous year to 1,834,986 units. Production for the domestic market declined by 19.0% to 685,628 units. The domestic market has shrunk due to stricter auto loan screening and higher policy interest rates. On the other hand, production for export markets increased by 11.4% to 1,156,035 units. Passenger vehicle production in 2023 went up by 7.5% from the previous year to 645,814 units. On the other hand, sales of commercial vehicles decreased by 7.3% from the previous year to 1,189,172 uRead more...

South Korea’s Automobile Sales Results in 2023

2024-04-03

South Korea’s vehicle sales increased 3.2% year-on-year to 1,743,366 units in 2023. The figure is based on the combined results of the members of South Korea’s automotive industry association KAMA and imported vehicle association KAIDA as well as Tesla which is not a member of either association. Sales remained at a high level in the first half of the year thanks to easing of the vehicle supply shortage and reduced individual consumption taxes on automobiles. In the second half of the year, sales were below the same month of the previous year in all montRead more...

Taiwan’s Automobile Sales Results in 2023

2024-03-29

Taiwan’s vehicle sales increased by 11.0% year-on-year to 477,021 units in 2023. This was the second highest level after 2005’s around 510,000 units, recovering from supply shortages of semiconductors, parts, and imported vehicles. Domestic made vehicle sales increased by 5.1% to 246,983 units, and sales of imported vehicles rose by 18.1% to 230,038 units. The market share of Japanese brands decreased by 3.0 points to 56.4%, the fourth consecutive year of decline, due to the growth of Hyundai Motor and MG among others. Looking at sales by vehicle type, Read more...

Vietnam’s Automobile Sales Results in 2023

2024-03-27

Vietnam’s automobile sales in 2023 dropped by 20.6% from the previous year to 404,294 units which is the combined total of VAMA members and two non-members Hyundai Motor’s local subsidiary Hyundai Thanh Cong Vietnam (HTCV) and local automaker VinFast. In the first half of the year, the total export value from Vietnam decreased by 12.1% compared to the same period of the previous year, and the economy weakened, with foreign investment decreasing by 4.3%. On the other hand, when the government implemented preferential automobile policies for the second halRead more...

The Philippines’ Automobile Sales Results in 2023

2024-03-25

In 2023, automobile sales in the Philippines increased by 20.8% from the previous year to 441,241 units (estimated by FOURIN), recovering to around pre-coronavirus levels. The inflation rate at the beginning of the year was at a high level of 8.7%, so there were concerns that it would affect unit sales, but an increase in remittances from overseas, combined with a weaker national currency, boosted consumption. In terms of GDP growth rate, it was 5.3%, ranking second among emerging countries in Asia after India (6.3%). Most of the top brands increased saRead more...

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