NEW YORK, May 31, 2016 /PRNewswire/ -- 2016 ASEAN Automotive Outlook : ASEAN to be the Fifth-Largest Automotive Market in 2016
This research service discusses in detail the Automotive Outlook in ASEAN during 2015 and presents the expected trends for 2016. It provides an analysis of the automotive outlook in the region with focus on the three key markets in ASEAN—Thailand, Malaysia, and Indonesia. It also touches upon the trends in other ASEAN countries with smaller but growing automotive markets. Besides presenting the unit shipment market trends and forecasts in the key countries, the study also analyzes the current and future factors affecting them. It includes the executive summary, research scope, objectives, background, and methodology, definitions and segmentation, ASEAN market outlook, regional market trends and forecasts for Thailand, Indonesia, and Malaysia, conclusions, and the future outlook and appendix.
2015 Key Highlights
The Association of Southeast Asian Nations (ASEAN) vehicle sales declined % in 2015 over 2014 due to a slack in economic growth and the resulting low purchasing power and a negative consumer sentiment.
1 Key markets Thailand and Indonesia saw a decline in demand; smaller markets saw considerable growth The key markets of Indonesia and Thailand once again saw a decline in vehicle sales due to the depressed economy, weak consumer spending power, and falling export demand. While Malaysia maintained its performance, other countries such as Vietnam, Singapore, and the Philippines saw high vehicle sales driven by economic growth and rising income levels.
2 Passenger vehicles (PVs) experienced higher growth PVs saw higher growth in 2015 driven by eco cars in Thailand, low cost green cars (LCGCs) and sport utility vehicle (SUVs) in Indonesia, and SUVs in Malaysia. Multi-purpose vehicles (MPVs) saw a considerable drop in sales in both Indonesia and Malaysia. In terms of commercial vehicles (CVs), pick-ups' sales grew in Malaysia and Thailand. In Indonesia too, small pickups and double cabs saw positive growth.
3 Launch of new models/facelifts pushed up vehicle sales In all the three key markets, sale of new models/facelift launches in both PV and CV segments helped to push up vehicle uptake. This included the launch of new pickup and SUV models in Thailand, such as Toyota Hilux Revo, Mazda BT50, Mitsubishi Pajero, Isuzu D-Maxx, Toyota Fortuner, and Honda CR-V facelift. The models launched in Malaysia were Perodua Myvi facelift, HR-V, Mercedes C-Class and Mazda3, Isuzu D-Max Diablo (special edition) & V-Cross, new-generation Mitsubishi Triton, and Nissan Navara, and facelift for Ford Ranger.
4 Japanese brands continue to be market leaders in key ASEAN markets Toyota continued to be the leader in the PV segment in Indonesia and Thailand, and in the CV segment in Malaysia. National car makers Perodua and Proton continued to lead the PV segment in Malaysia. The market concentration of top brands increased in Malaysia and Indonesia, and dropped in Thailand. Honda consolidated its position in Indonesia and Malaysia, emerging as one of the key participants in the region.
Key Questions This Study Will Answer
- What is the business environment of the automotive market in the 3 key ASEAN countries of Thailand, Indonesia, and Malaysia?
- Which vehicle segments are preferred and which have a higher growth potential in these markets?
- Which are the key OEMs in the ASEAN automotive market?
Read the full report: http://www.reportlinker.com/p03862984-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article