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Friday, March 1, 2024

ASEAN auto sales fell 32% to 2.14m units in 11 months

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Automotive sales in the Association of Southeast Asian Nations dropped 32 percent in the first 11 months of 2020 to 2.14 million units from 3.14 million units in the same period in 2019, with the Philippines significantly contributing to the decline, data from the ASEAN Automotive Federation show.

The AAF said in a report vehicle sales in the Philippines fell 41.6 percent in the 11-month period to 196,197 units from 336,226 units a year earlier. The rate of decline in the Philippines was deeper than the regional average.

Indonesia led the downturn with 49.6-percent drop in sales to 474,9109 units from 942,462 units a year ago, followed by the Philippines with 41.6-percent decline and Singapore with a 39-percent decrease to 51,348 units from 84,171 units.

Thailand reported a 25.10-percent drop in sales to 688,057 units from 918,267 units while Myanmar sustained a 21.6-percent decline to 15,145 from 19,308 units.

Malaysia also suffered a 17.2-percent fall in sales to 454,708 units from 549,439 units while Vietnam reported a 14-percent reduction to 248,768 units from 289,163 units.

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Brunei was the only ASEAN country that posted sales increase of 14.2 percent to 12,505 units from 10,949 units.

The region’s auto production and assembly also shrank by 35 percent to 3.85 million units from 2.54 million units in the same period.

All six manufacturers in the region reported negative output during the period. The Philippines production decreased by 30.3 percent to 61,257 from 87,864 units; Indonesia by 47.7 percent to 621,873 from 1.18 million; Malaysia by 18.7 percent to 429,326 from 527,945 units; Myanmar by 15.4 percent to 11,927 from 14,092 units; Thailand by 31.7 percent to 1.28 million from 1.87 million; and Vietnam by 34 percent to 139,770 from 160,639 units.

Sales of motorcycle and scooters also went down by 20.9 percent to 2.91 million units from 3.68 million units in the 11-month period.

Philippine sales dropped 15.3 percent to 1.07 million units from 1.56 units while Malaysia suffered 11.6-percent decline to 441,447 from 499,601 units. Sales from Singapore and Thailand also dropped by 46.1 percent and 13.3 percent to 9,467 and 1.39 million, respectively.

Malaysia produced 433,808 units, down by 13.6 percent from 502,096 units while Thailand production went down by 18.6 percent to 1.45 million 1.78 million.

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