Latest news with #vehiclemarket
Yahoo
27-05-2025
- Automotive
- Yahoo
Thai vehicle sales rise 1% in April
Thailand's new vehicle market expanded by 1% to 47,193 units in April 2025 from 46,738 units a year earlier, according to the latest wholesale data released by the Federation of Thai Industries (FTI). Sales last month were driven higher mainly by a sharp rise in battery electric vehicle (BEV) deliveries, reflecting strong marketing campaigns, primarily by Chinese automakers at the recent Bangkok Motor Show. The Thai vehicle market looks like it is beginning to bottom out after two years of sharp declines, which have been blamed largely on tightened lending criteria by banks and auto finance companies in response to a sharp rise in non-performing loans (NPLs) in the last few years. This has left the country's highly indebted consumers and small businesses struggling to access financing. Vehicle sales last year fell by 26% to 572,675 units, from 775,780 in 2023 - the lowest level since 2009. In the first four months of 2025 the market declined by a further 5% to 200,386 units from 210,494 units a year earlier, with sales of pickup trucks falling by 15% to 51,492 units; passenger pickup trucks 12,266 units (-9%); internal combustion engine (ICE) passenger vehicles 48,784 units (-14%); and hybrid vehicles 44,771 units (-5%), while sales of battery electric vehicles (BEVs) increased by 46% to 33,633 units. Sales of pickup trucks continued to decline sharply despite the recent launch of a THB 5 billion loan-guarantee programme by the Thai government, which runs until the end of the year, to support pickup truck purchases by local small and medium-sized businesses. The government has also recently approved a lower sales tax rate for plug-in hybrid electric vehicles (PHEVs), which is scheduled to come into effect at the beginning of 2026. Surapong Paisitpatanapong, vice-chairman of the FTI, told local reporters' The automotive industry remains weak as the high level of household debt continues to keep banks and car financing companies cautious about granting auto loans." Thailand remains the ASEAN region's largest vehicle producer, despite a 12% drop in output to 456,749 units in the first four months of 2025. Exports fell by 17% to 285,869 units, due to lower overseas demand, rising competition from China-based automakers and tightened emissions regulations in some key markets. The Federation now expects full-year vehicle output to drop to 1.4 million units in 2025, down from the 1.5 million units it had forecast earlier in the year. This compares with 1.84 million units produced in 2023. Vehicle and component manufacturers also face the added pressure of new import tariffs in the US. "Thai vehicle sales rise 1% in April" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Automotive
- Yahoo
Malaysia vehicle market grows by 1% in April
Malaysia's new vehicle market expanded by 1% to 60,527 units in April 2025 from 59,900 units a year earlier, according to registration data released by the Malaysian Automotive Association (MAA). Economic growth in the country slowed to 4.4% year-on-year continued in the first quarter of 2025 from a downwardly revised 4.9% growth in the fourth quarter of 2024, reflecting slowing export growth and slightly weaker domestic consumption growth. Malaysia's central bank has kept its benchmark interest rate unchanged at 3.0% for the last two years. In the first four months of 2025 the market declined by 5% to 248,730 units, following a weak start to the year, from record sales of 263,050 units in the same period last year. Light passenger vehicle sales fell by 4% to 232,456 units in this period while commercial vehicle sales plunged by 26% to 16,274 units. Sales of battery electric vehicles (BEVs) increased by 54% to 9,719 units year-to-date, driven mainly by China's BYD Auto and its Denza brand with 3,602 units combined, and the recently-launched Proton with 2,537 sales. Total vehicle production in the country fell by 13% to 233,916 units in the four-month period. Market leader Perodua continued to outperform this year, with sales largely unchanged at 112,462 units year-to-date. Proton's global sales fell by almost 8% to 46,283 units in the first four months of 2025, including 1,327 exports. The Saga was by far its best-selling model with 20,998 sales; followed by the Geely-based X50 compact SUV with 7,506 units; and the Geely-based S70 sedan with 6,181 units. The company confirmed that production of the Saga model began at its CKD plant in Egypt in the final week of February, with the aim of supplying markets across North Africa. UMW Toyota Motor reported a 10% sales decline to 27,876 units year-to-date. "Malaysia vehicle market grows by 1% in April" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
07-05-2025
- Automotive
- Zawya
Ford South Africa jumps 9.4% in Q1 2025 buoying vehicle sales recovery
South Africa's new vehicle market is showing signs of recovery in 2025 after a tough two years, and Ford Motor Company of Southern Africa is keeping pace with the rebound, posting a 9.4% increase in sales for the first quarter of 2025 compared to the same period last year. Ford sold a total of 8 274 vehicles in South Africa during the first three months of 2025, an increase of 713 units relative to the first quarter of 2024. This was based on a sustained upward trajectory carried through from last year, with 2,467 vehicles sold in January 2025, followed by 2,900 units in February and 2,907 in March. Ford South Africa achieved a 6% share of the all-important dealer sales channel in Q1 2025. 'New vehicle sales have definitely gained momentum during the first quarter of this year, and this recovery after a couple of challenging years is a positive sign of consumer and business confidence,' says Ryan Searle, director of sales operations, Ford South Africa. 'It is encouraging that the positive results Ford achieved last year have been maintained through the first quarter of 2025, despite the continued influx of new competitor brands and models. Ranger tops double cab charts The Ranger continues as Ford's best-selling vehicle, accounting for 6,205 units sold during the first quarter of this year – 150 vehicles or 2.5% higher than the same period in 2024. In the monthly sales charts, Ranger followed the same positive trend as Ford's overall volumes, climbing from 1,858 units in January to 2,168 in February and 2,179 in March. Reinforcing its status as the country's favourite double cab bakkie that is suited to a wide variety of work, leisure and adventure lifestyles, the Ranger claimed a leading 31.7% of the double cab segment with 5 193 units sold and an increase of 1.5% compared to Q1 2024. This placed it 534 units ahead of its nearest competitor for the year to date. In addition to its popularity amongst new vehicle buyers, the Ranger continues to lead in the used vehicle segment too. According to AutoTrader's latest statistics from March 2025, the Ranger was the top-selling used vehicle on the platform, with 1,753 vehicles sold for the month. Ford ranked third overall in March on this used car platform, achieving a 12% year-on-year growth. The family-oriented Territory recorded a 3.8% share with 822 vehicles sold in the highly competitive compact sport utility vehicle (SUV) segment. Following the launch of the thrilling seventh-generation Mustang late last year, it's no surprise that demand for this iconic model continues to far exceed supply. A total of 68 Mustang GT and Mustang Dark Horse models were sold during the first quarter of 2025. This year's full allocation for the Mustang Dark Horse is completely sold out and new orders are being allocated to 2026 production. Exports Ranger exports from South Africa to more than 100 global markets remained flat for the first quarter of 2025 with 10,878 units shipped to customers around the world compared to 10,964 for the same period last year. Ford accounted for 11.2% of total industry exports from January to March 2025, along with a 34.5% share of the light commercial export volume. Production of the Ranger PHEV is pegged at approximately 200 vehicles per day, further bolstering the company's export business – especially with the new PHEV models representing the first-ever Ranger exports from South Africa to Australia and New Zealand. The South African-built Ranger has been Europe's best-selling pickup for the past 10 years with 43.6% market share, and the new Ranger PHEV is set to play a significant role in Ford's LCV line-up in the region. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
