January new-car sales climb 9% in key Southeast Asian markets

Mar 10, 2018

Robust results in Indonesia and Thailand raise hopes for third year of growth

New-car sales in six major Southeast Asian nations increased 9% on the year to 274,679 units in January, with the two largest markets of Indonesia and Thailand logging double-digit growth.

The figures are a strong start to 2018, which is projected to be the region's third straight year of growth. The results were compiled using data from industry groups and other sources in Indonesia, Thailand, Vietnam, the Philippines, Malaysia and Singapore.

Indonesia and Thailand recorded their highest January growth in five years. New-car sales in Indonesia, the largest market, jumped 11% to 95,869 units for the first double-digit growth in six months. Sales of commercial vehicles and such passenger cars as minivans were brisk.

In Thailand, new-car sales jumped 16% to 66,545 units. Sales were slow last January as mourning continued for King Bhumibol Adulyadej three months after his passing. The launch of new models from automakers such as Toyota Motor during the second half of last year also likely contributed to the growth.

Vietnamese new-car sales soared 29% to over 26,000 units, a record for January. Consumers likely bought up inventories of vehicles imported last year amid concern that import restrictions on new cars, which took effect that month, would shrink supplies from Indonesia and Thailand.

Source: Nikkei Asian Review