Southeast Asian market - Japanese cars lead, VinFast breaks through

Video: Quick look at the new Vinfast Green car in Vietnam.

According to a report from PwC's advanced automotive division, 2024 will see a total of 3.28 million new cars sold in the Southeast Asian auto market , down 5.4% compared to 2023. Despite the decline in sales, the market still shows the dominance of Japanese brands, alongside a strong shift to electric vehicles with the prominence of domestic brands.

With nearly 1 million vehicles delivered to Southeast Asian customers, Toyota continues to be the most popular car brand in the region in 2024.

Toyota continued to hold the top spot with sales of more than 923,000 vehicles, surpassing its nearest competitor by 560,000 vehicles. Indonesia is the company's largest market, contributing 288,892 vehicles (accounting for 31% of total regional sales). In Vietnam, Toyota sold 66,576 vehicles, ranking third after VinFast and Hyundai , according to data from VAMA, Hyundai Thanh Cong and VinFast. Toyota's success comes from its diverse product portfolio, from sedans, SUVs to pickup trucks, meeting the needs of many segments.

Other Japanese brands such as Honda, Suzuki, Mitsubishi and Daihatsu are also in the top 6, affirming their long-term position thanks to their durability, fuel economy and value in use. Notably, Daihatsu – a subsidiary of Toyota – achieved sales of 163,000 vehicles in Indonesia, while supporting the development of many Toyota models in Vietnam such as Raize and Veloz.

Perodua, Malaysia’s leading domestic brand, ranked second in the region with more than 358,000 units sold domestically. Competitive pricing, improved quality and government backing helped Perodua surpass many international rivals. Proton, another Malaysian carmaker, ranked seventh with more than 147,000 units sold, reinforcing the position of the country’s domestic auto industry.

Honda, Suzuki, Mitsubishi and Daihatsu also made the top six, cementing their long-standing positions thanks to their durability, fuel economy and value for money.

Hyundai and Kia, two Korean representatives, ranked 8th and 14th respectively. Hyundai sold 108,293 vehicles, of which Vietnam contributed 67,168 vehicles (62%). Kia sold more than 52,000 vehicles, with 34,570 vehicles (66%) in Vietnam. Modern design, advanced technology and reasonable prices help Korean cars dominate the "gold mine" of Vietnam.

VinFast made an impression when it entered the top 11 with more than 87,000 electric vehicles sold in Vietnam, surpassing Toyota, Hyundai and Kia to lead the domestic market. This is the first time a Vietnamese brand has made a strong impression in the region, thanks to its preferential strategy, developed charging station network and green vehicle support policies from the government. VinFast's breakthrough marks a turning point in the trend of electric vehicle consumption in Southeast Asia.

The Southeast Asian auto market in 2024 reflects two major trends: the dominance of Japanese cars and the rise of electric vehicles. While Toyota and the Japanese continue to dominate thanks to their reliability, VinFast is leading the green wave, opening up prospects for environmentally friendly vehicles. This trend is expected to accelerate as automakers and governments step up support for green technology, promising a vibrant auto market in the future.

Source: https://khoahocdoisong.vn/thi-truong-dong-nam-a-oto-nhat-ban-dan-dau-vinfast-but-pha-post266910.html