The Federation of Thai Industry (FTI) has reduced its car production target for 2023 to 1.9 million units from 1.95 million units set at the beginning of the year, due to a drop in domestic vehicle sales and an increase in electric vehicle (EV) imports from China.
The Association of Indonesian Automotive Industry (Gaikindo) has announced that total car shipments from factories to dealers (wholesales) last year in the country reached 1,048,040 units, marking a year-on-year increase of 18.1%.
Indonesia may allocate 5 trillion rupiah (320.41 million USD) from this year’s budget to encourage people to buy electric vehicles (EV), a senior minister has said.
Car production in Thailand rose 15% in November from a year earlier to 190,155 units, thanks to improvement in the supply of chips, the Federation of Thai Industries (FTI) said on December 20.
Vietnam’s automotive market is expected to see car sales rise during the holiday season, as the industry continues to recover after sluggish sales during the global pandemic, according to experts.
Sales of Hyundai cars in June fell 34% from the previous month to 4,278, Thanh Cong (TC) Group said on July 12, blaming the decline on component shortages.
The Vietnam Automobile Manufacturers’ Association (VAMA) reported that its members suffered a decline in sales for the second consecutive month, with 22,802 cars sold units, or a 26-percent decrease, in February.
As many as 30,742 cars were sold in Vietnam in January, a decline of 34 percent compared to the previous month, according to a monthly report issued by the Vietnam Automobile Manufacturers Association (VAMA) on February 15.
Indonesia will introduce new tax breaks on property and automotive sales this year in a bid to accelerate its economic recovery from the COVID-19 pandemic, the country's Coordinating Minister of Economic Affairs Airlangga Hartarto has said.
The Vietnam Automobile Manufacturers’ Association (VAMA) has announced that the total market sales of its member units reached 38,656 vehicles last month, a month-on-month increase of 30 percent, and a year-on-year increase of 6 percent.
VinFast Trading and Service Limited Liability Company, a subsidiary automaker of Vietnamese conglomerate Vingroup, enjoyed a month-on-month increase of 15.3 percent in sales in November, to 3,829 vehicles.
TC Motor, a joint venture between Vietnam’s Thanh Cong Group and the Republic of Korea’s Hyundai Motor announced on November 11 that 8,855 Hyundai vehicles were sold in October, an increase of 117 percent compared to the previous month.
Car sales in Vietnam increased by 52 percent in September after five consecutive months of decline, showing positive signs for the car market in the year-end months.
Indonesia is planning to extend a luxury tax break on the sale of sedans and two-wheel drive cars with engine power of less than 1,500 cc to August to support its pandemic-hit automotive industry.
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