Honda Motor’s Global Financial Results in FY 2021

2022-06-24 New!

Honda Motor's global consolidated financial results for FY 2021 were as follows: sales increased 10.5% year-on- year to ¥ 14.55 trillion JPY, and operating income went up 32.0% to 871.2 billion JPY. Although the shortage of semiconductors weakened sales and the prices of raw materials skyrocketed, cost reductions, incentive restraints and favorable foreign exchange fluctuation led to a significant increase in profits. Honda’s operating profit margin increased 1.0 pp to 6.0%. in addition, both operating profit and operating profit margin exceeded the pre-Read more...

Nissan Motor’s Global Financial Results in FY 2021

2022-06-24 New!

In FY 2021, Nissan Motor returned to profitability with net sales up 7.1% year-on-year to 8.42 trillion JPY and operating income reaching 247.3 billion JPY. Nissan had been in the red for the second consecutive term until the previous year, but its business performance improved due to better sales quality and exchange rate fluctuations. In the fourth quarter of FY 2021, business conditions were severe due to the effects of soaring raw material prices, product supply shortages and the re-expansion of the new coronavirus infection. However, in the full FY Read more...

Toyota Motor’s Global Financial Results in FY 2021

2022-06-23 New!

Toyota Motor's consolidated financial results for fiscal year 2021 were as follows: operating revenue increased 15.3% year-on-year to 31.4 trillion JPY, and operating income rose 36.3% year-on-year to 3.0 trillion JPY. Sales increased by more than 4 trillion JPY from the previous year, reaching more than 30 trillion JPY for the first time in three years. Consolidated sales went up 7.6% year-on-year to 8.23 million units, but did not reach the pre-corona level of fiscal year 2019’s 8.95 million units. In fiscal year 2021, despite the reemergence of COVRead more...

South Korea’s Segmented Sales Results of Automobiles in 2021

2022-06-21

The South Korean automobile market decreased 8.8% from the previous year to 1,712,862 units in 2021. Sales fell below the previous year's record high level due to vehicle shortage and other factors. While passenger cars such sedans and hatchbacks declined16.4% to 684,397 units, SUV sales went down a mere 3.8% to 687,392 units. In the premium segment, Hyundai’s luxury brand Genesis increased significantly. Bar graphs: South Korea: Sales Volume of Automobiles by Type and Segment (2016-2021) Pie charts: South Korea: Sales Composition Ratio of SUVs by SeRead more...

Indonesia’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Indonesia's automobile market increased 66.8% year-on-year to 887,202 units in 2021. The recovery was large after the sharp decline in 2020, but the market only rose to some 80% of the pre-corona level of 2019. Although Indonesia implemented luxury tax exemption on new vehicles in March 2021, reduced production scale due to insufficient parts supply weakened sales. As a result, the sales of compact passenger cars and small MPVs, Indonesia’s core vehicle segments, failed to surpass 2019’s level. Passenger car sales went up 40.9% to 124,500 units, while smRead more...

Malaysia’s Segmented Sales Results of Automobiles in 2021

2022-06-17

The Malaysian automobile market fell 3.9% year-on-year to 508,911 units in 2021. This report covers the top six brands of Malaysia which accounted for 89.7% of the market in 2021. While the small SUV market markedly expanded in 2021, the lower compact segment (A/B), which is Malaysia’s largest segment, shrank. Although there has been steady demand for sedans and hatchbacks, the Malaysian market witnessed a shift in demand in 2021 from small passenger cars to small SUVs. Table: Malaysia: Sales Volume of Automobiles by Type, Segment and Brand / Model (2Read more...

Philippines’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Automobile sales in the Philippines went up 18.2% year-on-year to 293,336 units in 2021. This report covers the top eight brands of the Philippines which accounted for 89.6% of the market in 2021. The market growth was sluggish due to restrictions on activities triggered by the new coronavirus infection, and provisional safeguard measures imposed on imported cars from February to August. The overall market size reached around 70% that of the pre-corona 2019 level. However, sales results of three segments, A, sports and M&HCV, surpassed that of the 2019 lRead more...

Vietnam’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Vietnam’s vehicle sales decreased 2.9% year-on-year to 383,444 units in 2021 (based on 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. Passenger car sales decreased 14.6% from the previous year to 145,103 units. The market share of passenger cars fell 5.2 pp to 37.8%. SUVs increased 7.4% year-on-year to 118,076 units, and their share of the total market rose to 30.8%. In 2021, the SUV segment performed well thanks to the launch of five new modeRead more...

India’s Segmented Sales Results of Automobiles in 2021

2022-06-10

The Indian automobile market recovered to 3,782,951 units in 2021, up 28.0% from the previous year. However, the market size did not reach the 2019 level of 3.8 million units before the outbreak of corona infection, and it was far below the 2018 level of 4.4 million units, which was the latest sales peak. In 2021, the resurgence of the corona virus and insufficient parts supply, especially semiconductors, slowed the momentum of recovery to a higher level. Bar graphs: India: Sales Volume of Automobiles by Type and Segment (2016-2021) | India: Annual ChRead more...

Taiwan’s Segmented Sales Results of Automobiles in 2021

2022-06-10

Taiwan's automobile market fell 1.7% year-on-year to 449,855 units in 2021. Although sales declined due to the pandemic, it was still the second highest level in the past six years. The SUV segment increased 11.3% to 164,936 units, driven by medium and large models, surpassing the 150,000-unit level for the first time. Medium and heavy commercial vehicles went up 23.6% to 28,400 units, reaching the highest level in the past six years. In contrast, passenger car sales dropped 16.5% to 93,825 units, falling to the lowest level in the past six years. MPVs dRead more...

Thailand’s Segmented Sales Results of Automobiles in 2021

2022-06-08

Thailand’s automobile sales declined 4.2% from the previous year to 759,199 units in 2021. The decrease is attributed to the continued impact of the pandemic and few new compact car and one-ton pickup truck models on the market in 2021 which are the main segments of Thailand. On the other hand, several medium and large SUV models were revamped or newly launched. As a result, the share of this segment in the overall market increased 1.5pp to 11.8%, reaching an historic high level. Bar graph: Thailand: Sales Volume of Automobiles by Type and Segment (20Read more...

Lexus’s Global Sales Results in 2021, Becoming A BEV-only Brand by 2035

2022-06-07

Toyota Motor’s luxury vehicle brand Lexus has been steadily increasing global sales. Lexus sold about 400,000 units globally in 2011, but sales exceeded 765,000 units by 2019. In 2020, when corona was wreaking havoc around the world, Toyota Group’s overall sales declined 10.8% from the previous year; however, Lexus’s rate of decline was only 6.1%, maintaining sales above 700,000 units. In 2021, although sales did not reach the pre-corona level of 2019, it increased 5.7% to over 760,000 units. Looking at sales composition by market in 2021, North AmeriRead more...

Infiniti’s Global Sales Results in 2021, Poor Sales in Europe

2022-06-03

Nissan Motor’s luxury car marque Infiniti is intending to rebuild its brand strategy under Nissan’s medium-term management plan Nissan NEXT. With the sales of Infiniti brand models declining, Nissan discontinued production of the Infiniti Q30 and QX30 in Sunderland, UK in 2019, and withdrew from the European market in 2020. After leaving Europe, Infiniti has been expanding business activities in the United States and China. Infiniti sold some 218,000 units worldwide in 2017; however, this figure dropped to around 110,000 units in 2020 when the luxury braRead more...

Acura’s Global Sales Results in 2021, Sharp Decline in China

2022-06-03

Honda Motor is reviewing the regional and product strategies of the luxury car brand Acura. Acura's worldwide sales in 2021 increased 10.6% year-on-year to 182,948 units. While sales increased nearly 15% in the US and Canada, Acura’s sales in China saw an over 45% decline in 2021. Sales in North America have been around 170,000 units for the past six years. On the other hand, sales in China peaked with 15,402 units in 2019 but sharply fell in the following two years. For this reason, in April 2022, GAC Honda, which handles the Acura brand in China, annouRead more...

Chervon Auto Expands NEV Parts Supply, Sets Up Factory in Hungary

2022-06-02

Nanjing Chervon Automotive Precision Technology Co., Ltd. is a Chinese automobile parts suppliers that manufactures and sells heat exchange, transmission, engine, and new energy vehicle parts among other products. The company was listed on the Shanghai Stock Exchange in May 2019. Its main customers are BorgWarner, Valeo, Schaeffler and other global component makers, indirectly supplying parts to multiple automakers in China and worldwide. According to Chervon Auto, sales revenue in 2021 increased 16.5% from 2020 to 1.61 billion CNY. The expansion of the Read more...

Toyota Motor’s Business Developments in Thailand

2022-06-01

In 2021, Toyota Motor’s automobile sales in Thailand decreased 1.9% compared to the previous year to 239,723 units. Meanwhile Toyota’s market share increased 0.8 pp to 31.6%. For 2022, Toyota has set an ambitious sales target of 284,000 units, up 18.5% from 2021. The automaker also aims to raise its market share by 1.4 pp to pre- corona level 2019’s 33.0%. In 2021, model launches were mainly limited to the introduction of the GR Sport grade and the Modellista brand which offers body kits and accessories for existing models. Meanwhile, Toyota further promRead more...

Toyota Motor’s Sales, Production and Exports Results in Thailand in 2021

2022-05-27

Toyota Motor has set a vehicle sales target of 284,000 units for 2022 in Thailand, up 18.5% from the previous year, and a market share of 33.0%, up 1.4 pp. Compared to the pre-corona level of 2019, Toyota is expecting an 85% recovery of sales and full recovery of market share. In 2021, due to the effects of the corona lockdown and other factors, sales decreased 1.9% to 239,723 units. Meanwhile production increased 15.9% to 518,981 units and exports went up 35.5% to 291,722 units. Bar graph: Toyota Motor: Production and Export Volume of Automobiles in Read more...

Japan’s EV Battery Charging Infrastructure Development

2022-05-27

In March 2022, Japan’s Ministry of Economy, Trade and Industry announced the expansion of support measures for the introduction of charging infrastructure in order to promote the spread of BEVs and PHEVs. Parking lots and commercial facilities that were not previously covered by the subsidy are now also be covered. Infrastructure expansion is required for the popularization of BEVs, but the increase of quick charger installation locations has been sluggish especially since 2019. The number of BEVs and PHEVs owned in Japan exceeded 200,000 units in FY 20Read more...

Asia’s EV Battery Charging Infrastructure Development

2022-05-26

This report gives a brief summary on the development status of the BEV battery charging infrastructure in Asian countries with a large automobile market (India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand, Vietnam), and on related government policies (China and Japan are not covered by this report). In the mid-2010s, the insufficient BEV battery charging infrastructure became a global issue. Furthermore, many countries, out of the eight countries covered by this report, need to prioritize the development of their social infrastructureRead more...

China’s Battery Swapping Heavy-duty BEV Truck Sector

2022-05-24

The electrification of heavy-duty trucks has not been advancing as fast as that of passenger vehicles in China. There are issues with the purchase price, charging time and charging network. Battery-swapping has been proposed as a solution since around 2020 to solve these problems. While only 35 units of battery-swapping heavy-duty trucks were sold in 2020, that figure rose to 3,228 units in 2021. Battery-charging heavy-duty trucks are 2-3 times more expensive than their conventional counterparts; however, battery-swapping heavy-duty trucks are significanRead more...

Honda Motor’s Business Developments in Indonesia

2022-05-20

Honda Motor’s automobile sales dropped 37.7% in 2021 compared to 2019. The automaker’s market share fell 3.5pp to 10.3% due to fast recovery of the top three brands in the Indonesian market Toyota, Daihatsu and Mitsubishi. In an effort to boost sales, Honda has been releasing upgraded models since the second half of 2021. The fully-remodeled BR-V subcompact crossover, which was Honda’s best-selling model in Indonesia in the first quarter of 2022, was launched in September 2021. Another subcompact crossover, the HR-V, which was Honda’s second best-sellingRead more...

Toyota Motor’s Business Developments in Indonesia

2022-05-19

Toyota Motor is enhancing its product lineup in Indonesia in order to recover the scale of sales, production and exports that had fallen due to the pandemic. In November 2021, the fully remodeled Avanza, which is Indonesia’s best-selling model, was launched. Following the release of the Avanza, a number of other models were upgraded as well. A BEV concept model was also unveiled in March 2022; however, there was no word on actual production and market launch plans. In addition to strengthening its product lineup in Indonesia, Toyota has introduced a new Read more...

Honda Motor’s Sales and Production Results in Indonesia in Q1 2022

2022-05-18

Honda Motor's automobile sales increased 24.3% year-on-year to 91,122 units in Indonesia in 2021. Although sales rose double digits compared to 2020, it dropped 37.7% from the pre-corona level of 2019. In the first quarter of 2022, production increased 40.9% compared to the same period of the previous year to 34,701 units. Meanwhile sales went up 38.9% to 35,266 units. The fully-remodeled BR-V subcompact crossover SUV was launched for the first time in six years in September 2021. It sold 11,636 unit in the first three months of 2022, sales rising 17.2-fRead more...

Toyota Motor’s Sales, Production and Exports Results in Indonesia in Q1 2022

2022-05-18

Toyota Motor is aiming to recover sales, production and export scale in Indonesia, which were badly hit by the COVID-19 crisis. In the first quarter of 2022, sales increased 41.1% compared to the same period of the previous year to 81,337 units. Meanwhile production, including OEM production by Daihatsu Motors and Hino Motors, went up 45.6% to 153,665 units. Automobile exports increased as well, going up 41.3% to 68,408 units. Bar graph: Toyota Motor: Production / Sales / Export Volume of Automobiles in Indonesia (2012-2021, YTD March 2021 / 2022) BaRead more...

International Trade of Motor Vehicles and Parts in Asia in 2021

2022-05-13

This report covers the export and import results of motor vehicles and related parts of eight Asian countries (India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand, Vietnam) in 2021. The trade balance widened between countries that have become stable export bases for motor vehicles and are producing stable surpluses, and countries that have a chronic deficit. In 2021, India, Thailand, Taiwan and South Korea increased trade surplus, but Malaysia and the Philippines saw an increase in trade deficit. In addition, exports of all eight countRead more...

India’s Electric Motorcycle Market in 2021

2022-05-13

India’s electric motorcycle market is rapidly expanding. In 2021, In 2021, new registration of electric motorcycles surged to 143,284 units, a 5.3-fold increase from the previous year (newly registered electric motorcycle data released by VAHAN). Sales of electric motorcycle in 2019 and 2020 were less than 30,000 units, but the pace of expansion skyrocketed from the latter half of 2020, exceeding 100,000 units for the first time in 2021. Demand was driven by increased government subsidies, expanding product lineup on the market and rising fuel prices. Read more...

Thailand’s Motorcycle Sales, Production and Export Results in 2021

2022-05-12

Thailand’s motorcycle sales increased 6.1% compared to the previous year to 1,610,223 units in 2021 (new registration data released by Thailand’s Department of Land Transport). Compared to 2019, sales declined 6.9%, failing to recover to the pre-corona level like in other ASEAN countries such as Indonesia, Vietnam and the Philippines. Motorcycle production went up 10.2% to 1,780,609 units. Meanwhile, motorcycle exports in CBU form reached a record high of 437,147 units, a 43.8% increase, driven by the recovery of Thailand’s largest motorcycle maker HondaRead more...

Japanese Automobile Parts Suppliers in Russia and Ukraine

2022-05-10

Japanese vehicle suppliers’ production in Russia is mostly intended for the domestic market. Toyota Boshoku and Sanoh Industrial operate in-site factories at the automobile plants of Toyota Motor and Nissan Motor respectively, while U-Shin supports the local operations of Mazda Motor. Meanwhile, some Japanese parts makers supply Russian automakers such as AvtoVAZ and GAZ. As sanctions are tightened on Russia following its invasion of Ukraine, it will become increasingly uncertain whether Japanese automakers will continue business activities in Russia in Read more...

Human Horizons Launches Luxury BEV in the Chinese Market

2022-05-05

Human Horizons Holdings Co., Ltd. is an emerging Chinese BEV manufacturer founded in August 2017 by Ding Lei, formerly General Manager of Shanghai GM (now SAIC GM). Apart from the development and sales of BEVs and related components, Human Horizons is engaged in the connected transportation technology field. The company aims to realize a three-step comprehensive mobility solution, consisting of smart vehicles, smart transportation and smart cities. As of April 2022, Human Horizons’ first and only model in the Chinese market was the HiPhi X large SUV. Read more...

Indonesia’s Automobile Exports in 2021

2022-05-04

Indonesia's automobile exports increased 26.9% year-on-year to 294,639 units in 2021. Exports to Asia, Indonesia’s largest export destination, increased 7.1% year-on-year to 156,931 units. Exports to the Middle East went up 46.4% to 68,197 units, to Latin America rose 77.1% to 53,280 units, and to Africa increased 80.9% to 15,593 units, all exceeding pre-corona results. The top three exporters, Toyota, Mitsubishi and Suzuki, remained unchanged from last year. Bar graph: Indonesia: Export Volume of Automobiles by Brand (2012-2021) Bar graph: IndonesiaRead more...

India’s Automobile Exports in 2021

2022-05-03

Automobile exports from India in 2021 rose to 622,243 units, up 36.1% from the previous year. Exports significantly increased compared to 2020 when economic activities were restricted due to the pandemic; however, it failed to reach the pre-corona level of 2019 and before. In 2021, the production of automobiles was reduced due to the spread of the new coronavirus’s delta strain in the spring. From fall, the impact of semiconductor shortage became an acute problem, preventing an increase in production, which in turn slowed recovery. In 2021, passenger Read more...

China’s EDR Market Is Expected to Expand Following the Introduction of New Regulation

2022-05-02

As automobiles become more widespread in China, investigating the causes of traffic accidents has become more complicated. For this reason, EDRs (event data recorders), which contribute to the investigation of the responsibility and cause of traffic accidents, have been attracting attention in China. Starting from January 1, 2022, it has become mandatory to install EDR in new vehicles. For now, the data to be recorded is limited to 17 items such as vehicle speed and door lock status; however, it will be raised to 60 items starting from January 2024. RRead more...

Japan’s 2021 Automobile Sales by Powertrain Type and Engine Displacement

2022-04-28

In Japan, gasoline vehicle sales accounted for 67.3% of all passenger vehicle sales, down 4.2pp (percentage points) from the previous year, in 2021. HEVs (standard vehicles with an engine above 660cc) made up 28.1% of the market, up 3.8pp, and PHEVs (standard) accounted for 0.6% of all passenger vehicle sales, up 0.2pp, indicating a shift from conventional vehicles to electric models. The market share of diesel vehicles remained the same at 3.9%. Table: Japan: Sales Volume of Passenger Vehicles by Powertrain Type / Engine Displacement (2016-2021) TRead more...

Nissan Motor’s Global EV Strategy Until 2030

2022-04-27

Nissan Motor, which plans to launch 15 BEV models by 2030, is expanding its EV lineup and strengthening its production system. As of March 2022, Nissan's global production of BEVs centered on the Leaf compact hatchback, but a new model the Ariya crossover will be added soon. In addition, Nissan announced in November 2021 a plan to invest 2 trillion JPN in the next five years to promote electrification, increasing its product lineup as well as production scale. Since 2021, Nissan has announced plans to increase BEV production in the United States and the Read more...

Thailand’s Automobile Exports in 2021

2022-04-26

Thailand's 2021 exports of automobiles in CBU form increased 30.4% year-on-year to 959,194 units. Domestic demand fell to a low level for the second consecutive year due to the reemergence of the new coronavirus infection. On the other hand, thanks to market recovery in Australia and other export destinations, export scale exceeded the previous year’s level. Passenger vehicle exports rose 16.8% to 305,247 units, pickup trucks went up 37.6% to 575,352 units and PPV (pickup truck-based SUVs) increased 39.3% to 78,595 units. In January 2022, the FederRead more...

Indonesia’s Motorcycle Sales Increased 38.2% to 5 Million Units in 2021

2022-04-26

Motorcycle sales in Indonesia (domestic sales of five members of Indonesia’s motorcycle manufacturer association AISI) increased by 38.2% from the previous year to 5,057,516 units in 2021. Sales in 2021 increased significantly compared to 2021 when demand fell to a historically low level due to the outbreak of the new coronavirus infection. Although sales surpassed 5 million units in 2021, it remained at a low level compared to the pre-corona level of around 6 million units or more. AISI forecasts that sales in 2022 will reach 5.1 million-5.4 million Read more...

Honda Motor’s Global EV Strategy in the 2020s

2022-04-22

Honda Motor plans to increase its annual production scale of BEVs to more than 2 million units by 2030. For this reason, the automaker is strengthening its BEV production system. In October 2021, Honda announced that its local subsidiaries would establish two new BEV-only plants for the first time in China, which is positioned as Honda’s main market for electrification. Both plants are scheduled to be launched in 2024 with a combined annual production capacity of 240,000 units. As of March 2022, Honda's global BEV lineup consisted of the VE-1 and M-NVRead more...

Production and Business Activities of Japanese Passenger Vehicle Makers in Russia

2022-04-21

As of the beginning of 2022, seven Japanese passenger vehicle makers were present in the Russian automobile market. Toyota, Nissan, Mazda and Mitsubishi manufacture and sell automobiles in Russia while Suzuki, Subaru and Honda are only involved in import sales (This report does not cover Toyota and Nissan because separate reports were already published on April 15 on Toyota and on April 19 on Nissan.). However, due to Russia's invasion of Ukraine, which triggered severe sanctions on Russia, all automakers have suspended exports to the country and halted Read more...

Toyota Motor’s Global EV Strategy in the 2020s

2022-04-20

Toyota Motor plans to sell 3.5 million BEVs globally in 2030, and is expanding its BEV lineup to this end. As of March 2022, Toyota manufactured BEVs in Japan and China, but manufacturing bases are expected to be set up in other countries as well as Toyota’s BEV lineup expands. Regarding batteries, which are the key to the market expansion of BEVs, Toyota has been strengthening its production system and is also focusing on the development of new materials and structures in order to reduce costs. In December 2021, the automaker announced the establishmentRead more...

Nissan Motor’s Production and Business Activities in Russia

2022-04-19

Nissan Motor has been manufacturing automobiles in St. Petersburg, Russia since 2009. The plant has an annual production capacity of 100,000 units, producing three crossover SUVs, the X-Trail, Qashqai and Murano. Its alliance partner Renault makes the Nissan Terrano at its local plant Renault Russia. In addition to the Nissan brand, Nissan also sells models of the Infiniti marque in Russia. Nissan has been using its alliance partner Renault to boost business in Russia. However, Renault suspended operations in Russia in late March to comply with internatiRead more...

Joyson Electronics Focuses on Smart Cockpit and Connected Businesses

2022-04-15

Joyson Electronics is a Chinese supplier of auto electronics, intelligent driving, e-mobility and auto safety systems. In the first nine months of 2021, sales went up 0.7% year-on-year, to 34.11 billion CNY thanks to rising demand for safety system components and electrical and electronics parts. However, operating profit was in the red at 210 million CNY due to the reemergence of the new coronavirus infection, semiconductor shortages, and rising raw material prices and transportation costs. In anticipation of market growth in the connected and autonomouRead more...

Toyota Motor’s Production and Business Activities in Russia

2022-04-15

"In the beginning of March 2022, Toyota halted production and sales in Russia and exportation of vehicles in CBU form to Russia until further notice." In 2007, Toyota Motor launched a plant in St. Petersburg, Russia and began production of the Camry midsize car. As of March 2022, in addition to the Camry, the St. Petersburg Plant also manufactured the RAV4 compact crossover SUV. The plant’s initial production capacity was around 50,000 units per year but in the next 10 years it gradually increased to about 100,000 units. Although production dropped beRead more...

Nissan Motor’s Domestic Product Strategy Until 2024

2022-04-12

Nissan Motor announced in November 2021 that it will globally introduce 23 electric vehicle models, including 15 BEVs, by 2030. In Japan, Nissan has set a goal of increasing the sales ratio of electric vehicles including BEV and e-POWER models to 55% or more by 2026. In line with its goal, Nissan released the Note Aura equipped with second-generation e-POWER technology in August 2021. In addition to launching the BEV Ariya in January 2022, Nissan plans to release a mini BEV in collaboration with Mitsubishi Motors in the spring of 2022. In addition, thRead more...

India’s Vehicle Production Increased 30.1% to 4.4 Million Units in 2021

2022-04-11

In 2021, India's automobile production increased by 30.1% year-on-year to 4,399,112 units. Domestic sales increased 27.9% to 3,759,540 units, and finished vehicle exports went up 36.1% to 622,243 units, resulting in an increase of over 30% in automobile production. Although domestic sales did not reach the results of 2017 and 2018 when results were especially strong, domestic sales nearly returned to the pre-corona level of 2019. In 2021, passenger vehicle production rose 28% to 3,631,095 units while commercial vehicle production went up 40.8% to 768,Read more...

Honda Motor’s Domestic Product Strategy Until 2024

2022-04-05

Honda Motor is revising its domestic vehicle lineup. The automaker discontinued sales of the Legend luxury sedan in January 2022, and plans to end sales of the Odyssey MPV and the second generation NSX sports car at the end of the year. In addition, sales of the Shuttle, CR-V and Insight models are expected to be discontinued also. Honda is terminating models with low sales volume, but the company is considering launching a new model in the midsize SUV segment whose popularity has been growing in Japan. In addition, the Honda Vezel compact SUV was launchRead more...

Toyota Motor’s Domestic Product Strategy Until 2024

2022-04-04

Toyota Motor is aiming for a full lineup of electric vehicles, and as part of this plan, the automaker will introduce 30 BEV models globally by 2030. Seven models will be rolled out worldwide by 2025 from the bZ series based on a BEV dedicated platform. In Japan, the bZ4X is scheduled to be released in mid-2022 as the first step. Toyota will not sell the bZ4x in Japan, instead it will be offered through KINTO’s subscription service. The reason is that battery pack deterioration makes BEV resale value drop sharply. In addition, Toyota aims is to reliably Read more...

Toyota Motor Sets 2022 Sales Target at 284,000 Vehicles

2022-04-01

Toyota Motor has set its sales target at 284,000 units for 2022, an increase of 18.5% from the previous year. Market share is aimed to reach 33%, up 1.4pp compared to 2021. Sales are expected to reach 85% of pre-corona 2019 in 2022. To achieve its goal, Toyota is proceeding with initiatives related to electric vehicles, reiterating the policy of localizing electrification. Toyota Motor: Recent Business Developments in Thailand 2022 Target (Announced by Toyota Motor Thailand in January 2022) ・Sales target: 284,000 units, up 18.5% from the previous Read more...

Taiwan’s Vehicle Production Went Up 8.0% to 2.65 Million Units in 2021

2022-03-31

Taiwan's vehicle production increased 8% year-on-year to 265,320 units in 2021. Both production for the domestic market and for exports turned positive in 2021 after a slight decline in the previous year. Although the impact of the new coronavirus infection was successfully minimized in 2020, production decreased. In 2021, production for the domestic market rose for the third consecutive year to 235,306 units and production for exports ascended 56.9% to 30,014 units from 2020. Taiwan’s passenger vehicle production increased 8.7% to 196,749 units, while cRead more...

South Korea’s Vehicle Production Dropped 1.3% to 3.46 Million Units in 2021

2022-03-30

South Korea's vehicle production fell 1.3% year-on-year to 3,462,499 units in 2021, going down for the third consecutive year. Insufficient supply of semiconductors was the primary reason for declining production. South Korea’s passenger vehicle production dropped 1.5% to 3,162,850 units, while commercial vehicle production inched up 1.6% to 299,649 units. Hyundai and Kia increased production thanks to the gradual recovery of CBU exports. In contrast South Korea’s third largest automaker GM Korea dropped 37% due to poor domestic and overseas demand. Read more...

Pakistan’s Vehicle Production Increased 2.1-fold to 242,000 Units in 2021

2022-03-29

Pakistan's vehicle production increased 2.1 times year-on-year to 242,000 units in 2021. New vehicle sales expanded due to a significant tax cut on car purchases, which came into effect in July 2021. In addition to domestic demand, production also surged in response to the increase in exports associated with the global economic recovery from Covid-19. In December 2021, the Pakistani government announced the Automotive Industry Development and Export Policy (AIDEP) 2021-2026. The policy supports the domestic production of vehicles and parts, and the inRead more...