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...

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 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 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 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 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 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...

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...

Automobile sales in Indonesia decreased by 4.0% from the previous year to 1,005,302 units in 2023. Due to factors such as the weak national currency, rising interest rates, and a wait-and-see mood regarding the results of the presidential election scheduled for February 2024, the year-on-year decline continued from the second half of the year. Sales of passenger vehicles decreased by 0.5% from the previous year to 779,326 units. In this segment, the largest class of non-sedans with an engine displacement of 1.5 liters or less dropped by 13.5% year-on-yeRead more...

India’s automobile sales in 2023 (wholesale data by SIAM) went up 7.5% year-on-year to 5,079,765 units, surpassing 5 million units for the first time. Semiconductor shortage eased starting from 2022 and picked up speed in 2023 enabling backorders to be filled. Sales of SUVs have been expanding, centering on models which were newly introduced or fully remodeled since 2022. As a result, sales of utility vehicles, which consist of SUVs and MPVs, have increased significantly, widening the gap in terms of sales between utility vehicles and passenger cars to 7Read more...

Thailand’s automobile sales decreased by 8.7% from the previous year to 775,783 units in 2023. Factors behind this drop include a decline in consumer purchasing appetite due to rising interest rates and an increase in household debt, as well as financial institutions becoming stricter with car loans and rising loan interest rates. On the other hand, new BEV vehicle registrations in 2023, which the Thai government is focusing on promoting, increased 8.2 times to 74,433 units, accounting for 9.3% of all new vehicle registrations. The top three brands were Read more...

Pakistan’s vehicle sales decreased 63.4% year-on-year to 85,087 units (locally assembled vehicles of PAMA members) in 2023. This was an unprecedentedly low level, lower than the 112,000 units sold in 2009, which was largely affected by the Lehman Shock, and the 128,000 units sold in 2020, which was the negative outcome of the coronavirus pandemic. Against a backdrop of economic deterioration, production decreased significantly due to delays in parts procurement triggered by import restrictions and currency depreciation, and consumers refraining from purcRead more...

Malaysia’s automobile sales in 2023 increased by 12.5% from the previous year to 799,731 units, reaching a record high level. The automobile sales tax reduction / exemption measures for vehicles registered until March 2023, stable inflation rates, and low policy interest rates appear to have contributed to the strong performance throughout the year. Sales of passenger cars reached 440,305 units, an increase of some 51,000 units from the previous year, and SUV sales rose by around 22,000 units from the previous year to 213,128 units. Malaysia’s two natioRead more...

Asia’s motorcycle sales (this report covers India, Pakistan, six ASEAN countries [Indonesia, Vietnam, Thailand, Philippines, Malaysia, Singapore] and Taiwan) increased 5.5% compared to the previous year to 32,211,215 units in 2023. In 2020, demand fell to 26,408,732 units due to the spread of COVID-19, but since then demand has increased for three consecutive years. It has recovered to 92.4% compared to 2019 before the spread of infection, and 84.8% compared to the previous peak in 2018. In India, although agricultural production slowed due to unseasonaRead more...

Daihatsu Motor’s automobile sales in Japan in 2023 increased by 3.3% from the previous year to 594,501 units, but its market share declined by 1.3 points to 12.4%. Although the sales of light vehicles (660cc and below) went up by 5.0% to 565,928 units, their market share decreased by 0.5 point to 32.4%. The sales of standard vehicles (over 660cc) dropped by 21.9% to 28,5730 units. Daihatsu Tanto’s sales increased by 47.8% from the previous year to 159,392 units, while sales of the Move Canbus rose by 49.4% from the previous year to 83,440 units. DaihatRead more...

Subaru’s automobile sales in Japan in 2023 increased by 5.1% from the previous year to 106,002 units. Although sales started to increase for the first time in six years, the automaker’s market share decreased by 0.2 point to 2.2%. In the standard vehicle segment (above 660cc), the two models that saw a particularly large increase from the previous year were the fully remodeled Crosstrek (renamed from XV) and the Impreza, which increased by 69.4% year-on-year to 23,856 units and by 17.3% to 10,511 units, respectively. In addition, two e-BOXER-equipped veRead more...

Malaysia’s automobile sales in 2023 are forecast to increase by 8% from the previous year to 780,000 units. Due to the sales of vehicles eligible for the automobile sales tax reduction/exemption, which was available until March 2023, sales from January to March of 2023 increased by 20% compared to the same period of 2022 to 192,000 units. Local automaker Perodua, led the market with sales of 267,000 units from January to October of 2023, an increase of 20%. The average inflation rate in Malaysia in 2023 was around 2% as of November. The core inflation raRead more...

Suzuki Motor’s automobile sales in Japan in 2023 increased by 7.9% from the previous year to 650,567 units, expanding for the first time in five years. However, as the growth rate was lower than the growth rate of the entire Japanese automobile market, up 13.8%, the automaker’s share fell by 0.7 point to 13.6%. Sales of light vehicles (660cc and below) increased by 6.1% to 531,707 units, but their market share dropped by 0.1 point to 30.5%. Of these, light passenger vehicles went up by 6.6% to 402,379 units, and light commercial vehicles rose by 4.5% toRead more...

Mazda Motor's 2023 automobile sales in Japan increased by 10.3% from the previous year to 177,864 units. After hitting the lowest level since 1970 in 2021 due to the impact of the semiconductor shortage, sales volume began to rise in 2022 as the semiconductor shortage eased in the second half and new models entered the market. In 2023, SUV sales were strong, with double-digit growth. SUVs showed a significant increase of 22.9% year-on-year to 94,071 units, while the sedan / hatchback category decreased by 7.5% to 37,450 units, and sporty models dropped Read more...

Sales of imported vehicles in Japan in 2023 increased by 0.5% from the previous year to 311,367 units. Of this, sales of foreign brands went up by 2.5% to 248,329 units, but the total market share shrank by 0.6 point to 5.2%. In contrast to the Japanese market, which grew by some 10% year-on-year, overseas brands continued to be affected by vehicle supply shortages and price hikes due to high prices and a weak yen. Passenger cars (sedans and hatchbacks) decreased by 7.7% to 114,162 units, while SUVs increased by 13.4% to 114,633 units, surpassing passenRead more...

Mitsubishi Motors’ vehicle sales in Japan in 2023 increased by 14.6% from the previous year to 103,738 units, going up for the third consecutive year. Although it appears that parts supply shortage is no longer an issue, Mitsubishi Motors said that the backlog of orders as of the end of October 2023 has not been resolved, and the impact of the semiconductor shortage continues. The company’s market share inched up by 0.4 points to 2.6%, exceeding the previous year. Looking at domestic sales volume by model in 2023, the most notable increases were achieveRead more...

Honda Motor’s automobile sales in Japan in 2023 increased by 4.6% from the previous year to 594,285 units, while its market share decreased by 1.1 points to 12.4%. Sales of standard vehicles (above 660cc) sales went up by 2.5% to 275,722 units, while their market share dropped by 1.4 points to 9.1%. Meanwhile, sales of light vehicles increased by 6.6% to 318,563 units, and their market share was 18.3%, the same as the previous year. Honda’s ratio of light vehicle sales increased by 1.0 point to 53.6%, a new record high. Looking at sales by model, sales Read more...

Nissan Motor’s automobile sales in Japan for the full year 2023 were 480,673 units, an increase of 6.9% from the previous year, going up for the first time in five years. Nissan’s domestic sales had been above 600,000 units until 2014, except in 2009, immediately after the Lehman shock, and in 2011, when the Great East Japan Earthquake occurred, but they fell below 600,000 units in 2015. After that, sales remained slightly below 600,000 units per year, exceeding the 600,000-unit mark in 2019 right before the coronavirus. Restrictions on economic activitRead more...

Toyota Motor’s domestic vehicle sales for the full year 2023 increased by 29.8% from the previous year to 1,672,750 units, exceeding the annual sales figure of 1.6 million units for the first time in four years. Toyota’s domestic sales have generally remained at around 1.6 million units since 2000, excluding periods affected by the Lehman Shock, the Great East Japan Earthquake, and the coronavirus pandemic. In the early 2000s, there were years when sales exceeded 1.7 million units. However, in recent years, the only years in which sales have reached the Read more...

In 2023, commercial vehicle sales in Japan by the four domestic commercial vehicle manufacturers (Isuzu Motors, UD Trucks, Hino Motors, Mitsubishi Fuso) reached 154,323 units, an increase of 24.2% from the previous year. Sales volume went up due to a recovery in parts supply. Light trucks increased by 26.2% to 79,374 units, medium and heavy trucks rose by 19.0% to 66,497 units, and buses went up by 53.5% to 8,410 units. Looking at the medium and heavy trucks segment, sales of the loading capacity over 12t class increased by 27.8% year-on-year to 26,000 uRead more...

Thailand’s automobile market is expected to fall below 800,000 units in 2023, settling down to around 787,000 units due to factors such as a decline in consumer purchasing appetite triggered by rising interest rates. On the other hand, in 2024, sales are predicted to recover to a level of over 800,000 units, considering the effect of the economic stimulus measures of the new Srettha administration, which was inaugurated in August 2023. Since the beginning of 2023, automobile sales have been down from the previous year in every month, except May, until SRead more...

FOURIN (owner of this website) predicts that the Indonesian automobile market will shrink to around 1.02 million units in 2023, down 2.7% from the previous year. In addition to the depreciation of the rupiah and the accompanying rise in interest rates, the uncertainty surrounding the presidential election scheduled for February 2024 coupled with a wait-and-see mood, pushed down sales from the same month of the previous year since the second half of 2023. Although economic recovery from the coronavirus pandemic is progressing, it is still affected by the Read more...

The Indian automobile market in 2023 is expected to reach a new record high for the second consecutive year, exceeding 5 million units for the first time, reaching 5.08 million units, an increase of 350,000 units compared to the previous year. On the other hand, although sales are expected to reach a new record high in 2024, the growth pace of the automobile market is expected to slow down to around 5.2 million units. In 2023, semiconductor supply constraints eased, so the supply of automobiles recovered. As a result, the backlog of orders was cleared. Read more...

Sales of BEV motorcycles in India in 2023 (excluding low-speed BEV motorcycles with a maximum speed of 25 km/h or less) increased by 36.1% from the previous year to 859,085 units. The share of BEVs in the motorcycle market went up by 1.0 point to 4.9%. Although sales rose nearly 40%, from June 2023 FAME II BEV purchase subsidy was reduced from 15,000 INR to 10,000 INR per kWh of battery capacity, and the upper limit was also lowered from 40% of the ex-factory price to 15%. As a result, sales from June to December increased only 13.1% compared to the sameRead more...

Mercedes-Benz's sales volume in Japan was 45,584 units from January to November 2023, nearly on par with the previous year. As a foreign brand, it overtook VW to take the number one spot in 2015, and has maintained the same position ever since, with a market share of around 21%. Mercedes-AMG models accounted for 6.7% and BEVs for 7.3% of global vehicle sales in 2022, but in Japan they accounted for 17.8% and 8.9% respectively from January to November 2023. ICEV models accounted for 98% of sales in 2017 but dropped to 58% from January to November 2023. TRead more...

Motorcycle sales in Taiwan (TTVMA member companies only) were strong at 663,628 units, an increase of 16.9% year-on-year from January to October 2023, but sales of BEV motorcycles decreased by 1.9% to 66,001 units. The BEV ratio in motorcycle sales was 12.2% in 2022. Meanwhile, in the first 10 months of 2023, it was 9.9%. Sales of BEV motorcycles rapidly increased to 168,537 units in 2019, and the BEV ratio rose to 18.7%, but since then sales have remained in the 80,000-90,000 unit-range per year, with BEV ratio around 10%-12%. In Taiwan, the central goRead more...

In Kazakhstan, both automobile manufacturing and sales have been on a recovery trend since 2016, and in 2022, sales reached the third highest ever and production rose to the highest ever. Light vehicle sales increased by 5.5% year on year to 120,546 units, recovering to the third highest level since 2004, since continuous data is available. Looking at data by brand, Chevrolet maintained its lead with sales of 34,289 units, an increase of 17.8%. Hyundai remained second with 29,206, going up 27.5%. Kia rose to third place, up 48.6% year-on-year to 14,421 Read more...