Indonesia Dominated Southeast Asian Car Sales in May 2024

Transportation & Logistics

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Nabilah Muhamad 09/07/2024 19:30 WIB

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According to AAF data, Indonesia is Southeast Asia's largest car market, with sales reaching 334,969 units from January to May 2024.

Car Sales in Southeast Asian Countries (January-May 2024)

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Indonesia Dominated Southeast Asian Car Sales in May 2024

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Car Sales in Southeast Asian Countries (January-May 2024)

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According to data from the ASEAN Automotive Federation (AAF), Southeast Asian car sales reached 1.23 million units from January to May 2024. This figure is down 9.2% year-on-year (YoY) compared to the same period last year, which totaled 1.36 million units.

The AAF compiled the sales performance of four-wheeled motor vehicles in seven Southeast Asian countries, including Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Until May 2024, Indonesia was recorded as the largest car market in Southeast Asia, with total sales of 334,969 units.

However, car sales in Indonesia during that period fell by 21% (YoY).

“In ASEAN, we [Indonesia] are still leading, still number one,” said Jongkie Sugiarto, Chairman I of the Indonesian Automotive Industry Association (Gaikindo), in a statement, as reported by CNBC Indonesia on Wednesday (3/7/2024).

Malaysia now holds the second position, usually occupied by Thailand, recording sales of 328,901 units, up 8.3% year-on-year (YoY).

Thailand follows in third place with sales of 260,009 units, a volume decrease of 23.9% (YoY).

“Malaysia has overtaken Thailand for second place, because the Thai economy seems to be performing poorly,” said Jongkie.

Meanwhile, other ASEAN countries such as the Philippines, Vietnam, Singapore, and Myanmar recorded car sales of less than 200,000 units, as shown in the attached graph.

The AAF also reported that car production in Southeast Asia from January to May 2024 totaled 1.56 million units, down 12% compared to the same period the previous year (YoY).

Thailand was the largest car producer in the region, reaching 644,951 units. This was followed by Indonesia with 466,230 units and Malaysia with 341,500 units.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia Dominated Southeast Asian Car Sales in May 2024

Indonesia Dominated Southeast Asian Car Sales in May 2024

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Indonesia Dominated Southeast Asian Car Sales in May 2024

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