January-February, 2023: Vietnam's automobile market was heavily affected by various problems, causing a reduction in car sales and output.
Automobile sales in Southeast Asia (January-February, 2023)
Statistics from the ASEAN Automotive Federation (AAF); in the first 2 months of 2023, Vietnam only consumed more than 40,000 cars, falling to the 5th place in Southeast Asia in terms of sales.
The first period of 2023 recorded the gloom of the automobile industry in Vietnam, leading to a dramatic reduction in car sales compared to the same period last year. However, some major markets in Southeast Asia still grew strongly, especially the Philippines, pushing Vietnam to a lower standing in the ranking of automobile sales.
According to statistics from the ASEAN Automotive Federation (AAF), in the first 2 months of 2023, 7 markets in the ASEAN recorded sales of 537,676 cars, raising 6.9% year-on-year. In which, the leading market is still Indonesia with 181,077 units, followed by Thailand with 137,130 units, a decrease of 4.7%.
Malaysia placed third with 112,128 cars in total, increasing by 20.5% over the same period last year. The Vietnam market only reached sales of 40,354 cars, going down 24.6%; and let the Philippines leap over with 61,164 units, going up 35.7%.
It can be seen that, while the Philippines market had the fastest growth among the 7 Southeast Asian countries listed, the sales decrease in the Vietnam market came in second, only after Myanmar with 87.1%.
Meanwhile, the automobile output in Southeast Asia continued to be greater than the amount consumed with 747,152 cars sold within the first 2 months of this year, an increase of 9.6% year-over-year. The leader was Thailand with 327,939 units, up 6.7%; Indonesia ranked second with 256,664 units, growing 9.5%.
Vietnam placed fourth in quantity but also decreased 34.7% compared to last year, reaching only 21,583 cars produced in the first 2 months of 2023, ranking behind Malaysia with a total of 122,325 units, increasing by 29.8%; and ranking above the Philippines with 18,592 units, raising 63.8%.
Automobile output in Southeast Asia (January - February, 2023)
During the first 2 months of this year, the Vietnam automobile market was heavily affected by various problems, resulting in a reduction in car sales as well as assembled car output, while other countries, such as Indonesia, Thailand, Malaysia, and the Philippines, were on the path to recovery. The year 2023 is predicted to be filled with difficulties for Vietnam; it is likely that the Southeast Asian standing will remain the same after this year.