ASEAN: a closed, self-sufficient market?
The latest Automotive World dataset shows that the main five ASEAN markets (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) generated just over 3.23 million units in 2024, down slightly from 3.36 million in 2023. By contrast, production data (which excludes Vietnam at present) shows that just over 3.5 million vehicles were made in 2023, falling just under 3 million in 2024. When its new factories are running at full production rates, Vietnam would add up to 300,000 units per year to the region’s production total. Broadly speaking, production and sales appear to be in balance, at least in theory (there is a large number of pick-ups exported from Thailand beyond the region).
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Originally posted on: https://www.automotiveworld.com/articles/asean-a-closed-self-sufficient-market/