Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Competitive Intensity is Concentrated in Low-cost Green Cars and Electric Vehicles; Political Stability will Affect the Automotive
* Required Fields
Pay by invoice
In 2020, due to the COVID-19 pandemic, the Association of South East Asian Nations (ASEAN) automotive market experienced a significant sales decline of 28.5%, from a total sales of 3.5 million units in 2019 to 2.5 million units in 2020. Passenger Vehicles (PVs) constituted 63.9% of the market and Commercial Vehicles (CV) accounted for 36.1%. Of these, Thailand, Indonesia, and Malaysia contributed a joint market share of 74.9%. Thailand surpassed Indonesia, and led the market in 2020.Especially in 2020, the outbreak of the COVID-19 pandemic influenced the automotive market’s activities due to implementation of social distancing, reduction of retail operations, and production closures. The impact is expected to be significant in terms of a weaker Gross Domestic Product (GDP), lower utilization of vehicles, and lesser automotive purchase attractiveness in the short term.Increase in government spending (including fiscal injections, infrastructure development, individual financial aid, and tax exemption) in Thailand, Indonesia, and Malaysia in 2021 is likely to accelerate the economic activity in these countries. In addition, the progress of vaccination is one of the critical factors that have a significant relationship with GDP recovery and outbreak control. However, political uncertainties, such as the suspension of the Malaysian Parliament and the extension of the state of emergency in Thailand are affecting the country’s development. Japanese automotive brands lead the ASEAN market. Toyota, Honda, Mitsubishi, Nissan, and Isuzu are the key contributors in Thailand, Indonesia, and Malaysia. In particular, Isuzu D-Max and Toyota Hilux are the key contributors in the Commercial Vehicle (CV) segment in Thailand and Malaysia. In Malaysia, Proton grew significantly in 2020, an increase of 4.4% Year-over-year (YoY). The trend of Low-cost Green Car (LCGC) and Electric Vehicle (EV) development will penetrate further in ASEAN. For example, Thailand aims to become an EV hub by 2025. Thailand’s National EV Roadmap targets for xEV production to reach 30% of total production in 2030. Similarly, the Indonesian Government promotes LCGCs and offers income tax incentives (up to 20 years of full corporate tax exemption) are likely to bring production attractiveness to the automotive market.This study assesses the automotive market in key ASEAN countries, with focus on Thailand, Indonesia, and Malaysia. It provides the automotive market snapshot in these 3 ASEAN countries. Each country snapshot covers the Total Industry Volume (TIV), in the historical period (2016–2020) and the forecast period (2021–2025). This research includes segmentation breakdown in 2020, such as vehicle segment, key Original Equipment Manufacturers (OEMs) and market share. In addition, it highlights 5 key trends and overall impact levels that will influence the automotive market in Thailand, Indonesia, and Malaysia in 2021, respectively. Author: Ming Lih Chan
2030 Vision of the Automotive Industry
North American Used Car Market, Growth Opportunities
Strategic Profiling of New Age Electric Commercial Vehicle Start-Ups
Global Off-Highway Fuel Cell Electric Equipment (FCEE) Growth Opportunities
GROWTH OPPORTUNITIES IN ELECTRIC VEHICLES, BIG DATA ANALYTICS, BATTERIES, AND AUTONOMOUS VEHICLES
Indian Automotive Electronics Growth Opportunities
Implication of CASE on Global Medium and Heavy Duty Commercial Vehicles Aftermarket Growth Opportunities
Global Urban Mobility Management and Data Intelligence Solutions Growth Opportunities
North America Plug-in Hybrid and Battery Electric Vehicles Aftermarket Growth Opportunities
energy storage market
solar energy market
wearable electronics market
nutritional supplement market
diet food market
virtual reality market
aerospace industry outlook
smart lighting market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.