Copyright FOURIN, Inc. 2023
Suzuki Motor’s Recent Business Trends in ASEAN
Suzuki Motor’s sales volume of in ASEAN’s five major automobile markets in the first half of 2023 decreased by 9.5% from the same period last year to 65,000 units. Sales dropped compared to the previous year in all countries except Malaysia where the automaker relaunched sales after a five-year hiatus. Suzuki’s combined market share in the five countries dropped 0.5 percentage point to 3.9%.
Looking at results by country in the first half of 2023, in Indonesia, which accounts for more than 60% of Suzuki’s sales in ASEAN, demand decreased by 0.2% year-on-year to 41,000 units, and the market share dropped by 0.6 percentage point to 8.2%. In addition to the decline in sales of the highest-selling models the Carry (down 12.0%) and the XL7 (down 13.6%), demand for the Ertiga, which is Suzuki’s first MHEV model in Indonesia, launched in June 2022, remained on the same level compared to the same period of 2022. Suzuki launched a new small SUV, the S-Presso, in August 2022, and it intends to release additional products in segments where the Suzuki brand currently lacks presence. Suzuki has also expanded its HEV lineup. In June 2023, the MHEV version of the XL7 was launched. It is sold in the 250 million to 300 million IDR price range, which is considered the volume zone of the new car market. Suzuki aims to sell a combined total of 12,000 units of the gasoline and hybrid versions of the XL7 by the end of 2023.
In Thailand, Suzuki’s second largest market in ASEAN, sales volume decreased by 37.9% to 6,994 units, and market share dropped by 0.9 percentage point to 1.7%. In December 2022, Suzuki launched the Ertiga Hybrid, its first MHEV in Thailand, but the MPV market in Thailand is small, so a significant expansion in sales is unlikely. Elsewhere, in Malaysia, where Suzuki reentered the market after a five-year hiatus, the automaker introduced the Swift Sport and Jimny, selling a total of 155 units in the first half of 2023.