automotive

The Sale Of Automobiles In Indonesia Continues To Dominate The ASEAN Region

The competition within the automotive industry in Southeast Asia (ASEAN) is intensifying, with Indonesia remaining a key contributor. According to data from the ASEAN Automotive Federation, car sales in Indonesia reached 76,304 units in August 2024, just 5,142 units ahead of Malaysia, which recorded 71,162 units. Both countries experienced a decline compared to the same period last year, with Malaysia demonstrating greater resilience, showing a decrease of 2.3 percent, while Indonesia faced a more significant drop of 14.2 percent.

Meanwhile, Thailand, a major player in the region, saw a substantial decline in sales, totaling 45,190 units, which represents a 25 percent decrease from the previous year. This situation highlights the greater challenges facing the ASEAN automotive industry, as inflation and supply chain disruptions continue to impact demand.

The rivalry among Indonesia, Malaysia, and Thailand illustrates the intriguing dynamics within the ASEAN automotive sector. Indonesia, with its larger market, must navigate complex challenges, while Malaysia has managed to adapt to the difficult market conditions. Thailand, despite its strong production base, is now under pressure to enhance its market appeal. Amidst this slowdown, several ASEAN countries have recorded significant growth, with the Philippines achieving 39,155 units, an increase of 6.6 percent from last year, and Vietnam reporting 25,196 units, up by 11.8 percent.

Despite growth in several countries, a decline in sales from three major nations resulted in a 7.9 percent decrease in total vehicle sales in the region, bringing the total to 262,364 units in August 2024. Cumulatively, vehicle sales in ASEAN from January to August 2024 reached 2,022,713 units. Indonesia reported sales of 560,619 units, reflecting a decrease of 17.1 percent, while Malaysia recorded 533,301 units, an increase of 5.9 percent, and Thailand noted 399,255 units, a decline of 23.9 percent. Below is the list of vehicle sales in ASEAN for August 2024. 

1. Indonesia: 76.304 units (Down 14,2 Percent yoy) 

2. Malaysia: 71.162 unit (Down2,3 Percent yoy) 

3. Thailand: 45.190 unit (Down 25 Percent yoy) 

4. Filipina: 39.155 unit (Down 6,6 Percent yoy) 

5. Vietnam: 25.196 unit (Down 11,8 Percent yoy) 

6. Myanmar: 494 unit (Down 17 Percent yoy) 

7. Singapura: 4.863 unit (Down 52,7 Percent yoy)

Tag: ASEAN Automobiles Automotive Industr