Automotive sales in the ASEAN region rebounded 27 percent in 2022 to 3.42 million units from 2.79 million in 2021, with the Philippines posting the third fastest growth among six nations.
Sales in the Philippines went up 31.3 percent to 352,596 from 268,488 units. Malaysia posted the fastest growth of 41.6 percent to 720,658 from 508,853 units, while Vietnam registered 33 percent increase to 404,635 from 304,149 units sold in 2021.
Indonesia remained the region’s largest market with 1.048 million units sold in 2022, compared to 887,202 units in 2021. It ranked fourth in terms of sales growth.
Myanmar and Singapore registered slower sales of -24.4 percent and -27.8 percent, respectively. Myanmar sold 7,058 units, down from 9,350 units 2021, while Singapore sales slowed to 42,550 from 58,953 units.
Thailand continued to be the biggest producer among motor vehicle manufacturers in the region. The country’s production reached 1.88 million units in 2022, up 11.7 percent from 1.68 million units in 2021.