Indonesia leads ASEAN in car sales!
In the first quarter of 2024, Indonesia led Southeast Asia’s automotive sector with 215,069 units sold despite a 23.9 percent drop in wholesale car sales.
Malaysia saw a 5 percent rise in sales to 202,245 units, driven by a tax exemption for local vehicles.
Thailand experienced a significant 25 percent decline to 163,666 units, hindered by non-performing car loans and a stagnant domestic market.
Nevertheless, Thailand's electric vehicle segment is growing due to the entry of Chinese manufacturers, indicating potential growth despite the overall sales downturn.
