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thailand: production and sales in august fell 20% year-on-year, ji krypton enters the high-end electric mpv market

the federation of thai industry (fti) recently released a report stating that in august, thailand produced 119,680 cars, a year-on-year decrease of 20.56%, and a month-on-month decrease of 4.12%; sales of 45,190 cars, a year-on-year decrease of 24.98%, and a month-on-month decrease of 2.60%. fti attributes the sharp decline in sales to stricter lending standards by banks and financial institutions. however, they are optimistic about future market improvement. officials believe that the 10,000 baht (approximately rmb 2,148) subsidy and the upcoming 2025 government budget expenditure will have a positive impact on the thai economy.

in terms of electric vehicles, it is predicted that the number of electric vehicle registrations in thailand will increase by 18.9% year-on-year in 2024. among them, the bookings and sales of mpv models are rising because they can meet the travel needs of large families and consumers with diverse car usage scenarios. statistics show that 7,000-10,000 mpv vehicles are sold in thailand every year.

in addition, the chinese brand jikrypton landed in thailand this week with the right-hand drive version of jikrypton 009, and plans to complete the target of delivering 1,000 units each of jikrypton 009 and jikrypton x before the end of the year.

malaysia: new car sales fell slightly in august, and plans to restart "old-for-new" incentives

the latest data released by the malaysian automobile industry association (maa) shows that in august, a total of 73,966 new cars rolled off the assembly line in the country, a year-on-year increase of 9%, and 71,162 new cars were sold, a year-on-year decrease of 2%, and a slight decrease of 0.8% month-on-month. from january to august, new car production reached 536,313 units, a year-on-year increase of 8%, and a total of 533,301 vehicles were sold, a year-on-year increase of 6%.

recently, petaling jaya (a city in malaysia) mp li jiancong called on the government to seriously consider restarting the voluntary vehicle scrappage subsidy program (vvsp) and negotiate with relevant industries to reduce the number of over-aged cars in the country. according to statistics from midf amanah investment bank, as of the end of 2023, there are nearly 6 million used cars in malaysia, which is equivalent to 49% of the country's vehicles being more than 10 years old.

overage old cars will cause problems such as space waste, environmental impact, and increased accident rates. if incentives for car trade-in are introduced, it will effectively solve the problem of abandoned vehicles and stimulate the growth of car sales.

indonesia: electric vehicle sales increased by 177% year-on-year from january to august, accounting for 4% of the market

the latest statistics from the indonesian automobile industry association (gaikindo) show that the total sales of electric vehicles (factory to dealer) nationwide from january to august 2024 were 23,045 units, a year-on-year increase of 177%. at the end of august, electric vehicle sales accounted for 4% of total vehicle sales. . among them, the best-selling electric car is the chinese brand wuling bingo, with wholesale sales of 3,876 units. the second place is chery omoda e5, with wholesale sales of 3,485 units, and the third place is byd seal, with wholesale sales of 3,240 units.

gaikindo chairman jongkie sugiarto said that incentive policies such as value-added tax and tariffs, as well as the emergence of new models and brands, are the main driving factors for the growth of electric vehicle sales in indonesia. he believes that the positive growth trend in electric vehicle sales will continue in the coming months. furthermore, chinese brands will still dominate the country’s electric vehicle market.

vietnam: car sales will reach 1 million units in 2030, geely invests in building factory

according to foreign media reports, the ministry of industry and trade (moit) of vietnam has set an average annual growth rate of automobile sales in vietnam of 14%-16%, with sales reaching a target of 1 million-1.1 million vehicles in 2030. among them, the sales of electric vehicles, hybrid vehicles and solar vehicles reached 350,000. by 2045, the automobile market growth rate will reach 11%-12% per year, and total automobile sales will reach 5 million-5.7 million units. among them, the sales volume of electric vehicles and vehicles using clean energy reached 4.3 million-4.4 million units, accounting for 80%-85% of the market. the output of domestically assembled vehicles is expected to reach 4 million-4.6 million units, meeting 80%-85% of domestic demand.

moit pointed out that vietnam’s automobile market has continued to grow since 2011. the growth rate of automobile consumption ranks second in southeast asia (after malaysia). as of 2023, the country's car ownership will reach 63 vehicles per 1,000 people.

recently, geely automobile signed an agreement with tasco jsc of vietnam to build a new automobile production plant in thái bình, northern vietnam, with a planned annual production capacity of 75,000 vehicles. construction is expected to start in early 2025. the new factory will assemble lynk & co and geely brand vehicles, with the first batch of models expected to be delivered in early 2026.