ASEAN light vehicle sales dragged down by Thailand in October

By / 11 years ago / News / No Comments

Total sales registered around 271k, a 14% decrease from the previous year. Despite some growth in Indonesia and Vietnam, the volume was far less than the continued decline in Thailand.

In its report, LMCA said: ‘In fact, the declining volume in Thailand accounted for almost a fifth of the monthly regional sales, decreasing almost 40% from the previous year. On the other hand, the increased volume in Indonesia and Vietnam totalled at less than 3% of the regional sales. The Thai decline could be observed in most segments, and especially in the Pickup and Sub‐Compact segments, which had high bases in the previous year. The 2013 outlook for Thailand is expected at around 1.3m.

‘Sales in Indonesia continued to grow strongly by 6%, boosted by the launch of the Low Cost Green Car (LCGC) project. Sales registered above 100k level for the third time this year. Sales of two LCGC models accounted for around 10k, while the expansion of the LCGC sub‐segment pushed the total sales upwards on the cost of other segments. Major decreases were found in the Compact MPV/Minivan and Compact SUV segments, by around 2k each. The LCGC sub‐segment is expected to boost sales throughout the end of 2013, pushing sales to reach a new height at around 1.1m.

‘Continued growth in Vietnam was also significant. October sales reached a new peak for 2013 at just below the 10k level. Sales have been on the path to recovery. The increases were observed in most key segments, and especially the Pickup segment, where sales doubled from the previous year. 2013 sales should surpass 100k with more than 20% growth.

‘In the Philippines, sales also ended the month of October with a significant increase, but with less volume compared to Indonesia and Vietnam. Sales also registered a new peak for 2013 of just below 19k, from an average of less than 17k previously. The increase was mainly contributed to by the expansion of the Sub‐Compact Car segment, boosted by strong demand for the new Toyota Vios and the Mitsubishi Mirage. However, the annual outlook for 2013 will be largely impacted by the devastating typhoon which occurred in November. Sales during the month should confirm whether total sales could reach the 200k level, as previously expected.

‘Malaysian sales were stable from the previous year at around 44k. In fact, there were significant decreases in the Compact MPV/Minivan and Midsize Car segment, but these were offset by increases in the Mini and Luxury segments. Annual sales are expected at around 645k, a slight increase from the previous year.’

The firm concluded: ‘Combining all five markets, we anticipate regional sales for 2013 should retain the previous level at around 330k.’

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.

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