▍Indonesia: Leading Sales Volume in ASEAN Countries, Physical Showrooms and Dealer Networks Hold Significant Importance
According to statistics from the ASEAN Automotive Federation (AAF), from January to September 2024, Indonesia’s total automobile sales reached 633,218 units, a year-on-year decrease of 16.2%, ranking first in ASEAN. Malaysia followed with sales of 594,037 units, a year-on-year increase of 3.9%. Thailand ranked third with sales of 438,303 units, a year-on-year decrease of 25.3%. The Philippines closely followed with sales of 344,307 units, a year-on-year increase of 9.4%. Vietnam’s sales reached 225,583 units, a year-on-year increase of 7.5%, and Singapore sold 37,988 units.
Recently, Indonesian marketing strategy consulting firm MarkPlus discovered through consumer research that the main obstacle to purchasing new cars in Indonesia is the high price. In the survey, 56% of consumers believed that new car prices continue to rise, exceeding their purchasing power. Additionally, 50% of consumers reported that the taxes levied are too high. At the same time, 37% of respondents faced heavy leasing rates, and another 26% of consumers preferred used cars at the same price. This highlights the importance of improving the affordability and value of new cars to attract consumer interest.
In 2024, the prices of new cars in Indonesia have increased by 37% compared to 2014, while household incomes have only grown by 28% during the same period. The price increase has limited consumers’ purchasing power. Additionally, research has found that in the electric vehicle (BEV) sector, the Chinese brand Wuling leads with a 47% market share.
A study on consumer habits has found that most consumers in Indonesia still prefer online research and offline purchases. This indicates that automobile manufacturers and dealers need to build an omnichannel strategy to enhance the consumer experience. Therefore, search engine optimization (SEO), the use of social media, and websites with in-depth content about products will help attract consumer interest in the early stages of the purchasing process. Besides, electric vehicle buyers prefer activities such as on-site test drives before making a purchase, highlighting the importance of showroom and dealer network development.
Thailand: BYD’s registrations surpassed 20,000 units in the first 10 months, Thai Power Authority expands electric vehicle charging stations
Recently, Mr. Ke Yubin, General Manager of BYD Automobile (Thailand), was honored with the 8th “2024 Thailand Headlines Person of the Year Award.” This event, organized by Thai Headlines Group Public Company Limited, is the largest annual social event recognizing outstanding individuals in various fields. The award ceremony is referred to as the Oscars of Thailand.
Ke Yubin stated that in the first ten months of 2024, the registration volume of BYD brand electric vehicles was 23,513 units, showcasing BYD’s commitment to creating consumer-friendly automobile products and product innovation. Besides, BYD will continue to strive to develop new technologies that meet the needs of Thai consumers to promote the development of Thailand’s automobile industry.
To gain a prominent position in the electric vehicle charging market, the Electricity Generating Authority of Thailand (EGAT) has announced a significant expansion of electric vehicle charging stations. They plan to add 110 new electric vehicle charging stations this year and an additional 100 charging stations by 2025.
▍Malaysia: Chery launches locally assembled electric vehicles, XPeng ranks fourth among best-selling electric vehicles
According to foreign media reports, Chery Auto Malaysia has rolled out the first completely knocked down (CKD) model of the OMODA E5 at the Inokom factory. This is the first fully assembled electric vehicle that Chery has launched in the Malaysian market. Leo Chen, President of Chery Auto Malaysia, stated that assembling cars locally not only provides more competitive pricing but also signifies Chery’s long-term commitment to Malaysia, promoting local employment creation and skill development.
Liew Chin Tong, Deputy Minister of the Ministry of Investment, Trade and Industry (MITI) of Malaysia, stated that as of the end of September 2024, there are a total of 32,543 registered pure electric vehicles in Malaysia, 98% of which are imported in completely built-up (CBU) form. Previously, only Volvo and Mercedes-Benz assembled electric vehicles locally. Now, Chery has become another brand assembling electric vehicles in Malaysia, marking an important step forward in the localization of electric vehicle production.
Liew Chin Tong, Deputy Minister of the Ministry of International Trade and Industry (MITI) of Malaysia, recently stated that thanks to the government’s active promotion of local assembly (CKD) projects for electric vehicles, Malaysia’s electric vehicle market is expected to become more affordable, with electric vehicle prices possibly dropping below 100,000 MYR (approximately 160,000 RMB).
The latest sales data shows that in October, the XPeng G6 sold 119 units in Malaysia, successfully surpassing competitors such as the Tesla Model Y and BMW iX2 to become the fourth best-selling electric vehicle in Malaysia. The G6’s more affordable price has made it a popular choice among many local consumers.
Singapore: Car Sales Volume in September Increased by Nearly 30% Year-on-Year, with Electric Vehicle Registrations Accounting for One-Third
According to data from the Singapore Department of Statistics, retail sales in September increased by 2% year-on-year, with automobile sales seeing the largest year-on-year increase of 29.6%, marking the highest growth rate this year. A transportation department official revealed that from January to September 2024, the registration of electric vehicles in Singapore accounted for one-third of new car registrations, indicating a rapid rise in the adoption rate of electric vehicles.
Thanks to the increasing usage of electric vehicles, the government aims to provide as much convenience as possible for electric vehicle users. The Singapore government is working towards the goal of installing 60,000 charging piles in public parking lots and private locations by 2030. Currently, one-quarter of this target has been achieved. As of September, there are over 15,300 charging piles in the region, about 1,500 more than the number announced in August, with more than 7,100 located at public charging points.
