Latest news with #vehiclemarket
Yahoo
6 days ago
- Automotive
- Yahoo
Vietnam vehicle market rises by 7% in July
Vietnam's new vehicle market expanded by 7% to 26,573 units in July 2025 from 24,774 units a year earlier, according to wholesale data released by the Vietnam Automotive Manufacturers Association (VAMA). The data do not include sales by Mercedes-Benz, Hyundai, Tesla, Nissan, domestic automaker VinFast, and some less-established Chinese brands. Switch Auto Insurance and Save Today! The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service VAMA's members last month continued to enjoy a strong rebound from weak levels a year earlier, driven by strong economic growth in the country. Preliminary government data show the country's GDP growth accelerated to 8% year-on-year in the second quarter of 2025, up from 6% in the first quarter, driven by strong domestic consumption and exports. In the first seven months of 2025 the vehicle market expanded by 12% to 157,146 units from 140,423 units a year earlier, according to VAMA data, with sales of passenger vehicles rising by 5% to 107,858 units while commercial vehicle deliveries surged by 29% to 49,288 units. Truong Hai (Thaco) Group, the local assembler and distributor of several overseas brands and a major player in the commercial vehicle segment, reported a 12% sales rise to 49,700 units in the seven-month period. This includes a 56% jump in Thaco commercial vehicle sales to 15,168 units, and a 15% rise in Mazda sales to 17,402 units, while Kia sales declined by 14% to 14,419 units. Toyota's sales surged by 25% to 35,942 units year-to-date, driven by strong Yaris Cross and Vios volumes, while Ford's sales rose by 24% to 25,839 units; Mitsubishi 19,024 units (+3%).; and Honda 13,850 units (+7%). VinFast had yet to release its July sales data, with first-half domestic deliveries amounting to 67,569 battery electric vehicles (BEVs), while Hyundai's sales dropped slightly to 24,204 units. The Vietnamese Ministry of Finance announced in March that it has extended the vehicle registration tax exemption for battery electric vehicles (BEVs) until the end of February 2027, extending the benefit for an additional two years. In July the government introduced minimum production volumes for vehicle manufacturers looking to benefit from preferential import tariffs on automotive components. "Vietnam vehicle market rises by 7% in July" 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
08-08-2025
- Automotive
- Yahoo
Japan's vehicle market drops 4% in July
Japan's new vehicle market shrank by 3.6% year-on-year to 390,516 units in July 2025, down from 405,175 units in the same month last year, according to registration data released by the Japan Automobile Manufacturers Association. The rebound from last year's production stoppages, when Daihatsu Motor was ordered to halt production of a number of key models following its widely covered safety test rigging scandal, appears to have fizzled out. Other brands were also affected by the stoppages last year, including Toyota and Mazda. Japanese consumers have also come under pressure in recent months from higher vehicle loan repayment rates, after the Bank of Japan increased its interest rate last year. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You In the first seven months of 2025, Japan's vehicle market expanded by 8% to 2,735,977 units after declining by 11% to 2,532,665 in the same period last year, with sales of passenger cars rising by 8% to 2,315,711 units, while truck sales increased by 7% to 414,004 units, and sales of medium and large bus and coach sales were up by just 1% to 6,262 units. Toyota's domestic sales rose by 11% to 851,340 units year-to-date, while Daihatsu's sales rebounded by 88% to 305,822 units from depressed year-earlier levels, and Mazda's volumes also recovered by 17% to 93,897 units. Brands not affected by last year's production stoppages have not performed as well so far this year, including Suzuki which saw its sales rise just slightly to 437,314 units, while Honda's sales declined by over 7% to 372,155 units, and Nissan's sales were down by almost 12% to 255,126 units. Overseas brands accounted for just over 5% of total vehicle sales in Japan year-to-date, led by German automakers including Mercedes-Benz, BMW-Mini, Audi, and Volkswagen. "Japan's vehicle market drops 4% in July" 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
05-08-2025
- Automotive
- Yahoo
Taiwan vehicle sales drop 22% in July
Taiwan's new vehicle market continued to drop sharply in July 2025, declining by over 22% to 35,483 units from 45,678 units in the same month last year, according to registration data compiled by Taiwan's Ministry of Transportation. Vehicle demand in the country has weakened significantly in recent months, following two years of strong sales growth, despite a pick-up in economic activity in the country. Economic growth in the country continued to accelerate in the second quarter of 2025, reaching 8% year-on-year, up from 5.5% in the first quarter, driven mainly by surging exports. Domestic consumption weakened significantly, however, with sentiment being affected by uncertainty over US import tariffs. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service In the first seven months of the year, the vehicle market declined by almost 16% to 234,450 units from 278,181 units in the same period last year, with sales of domestically-produced vehicles falling by 17% to 121,366 units, while import sales dropped by almost 14% to 113,084 units. Sales of battery electric vehicles (BEVs) amounted to 14,175 units in this period, led by Tesla with 6,022 units, followed by local automaker Luxgen with 2,154 units, BMW 2,148 units, and Mercedes with 1,293 units. The performances of the individual brands varied significantly year-to-date, with market leader Toyota reporting a 1% decline to 72,369 units; followed by its Lexus division with a 4% decline to 17,814 units; CMC 15,298 (+25%); Mercedes-Benz 14,738 (-12%); Honda 11,551 (-29%); Hyundai 10,877 (-24%); BMW 10,398 (-14%); and Mitsubishi 7,722 (-22%). Last year, Taiwan reintroduced minimum local content requirements for locally-assembled vehicles – regulations that had been discontinued more than two decades ago. Under the new rules, locally-assembled vehicles are required to have a minimum local content of 15% in their first year of production, rising to 25% in the second year and 35% in the third year. The government claims the new regulation is mainly aimed at ensuring minimum safety standards while also protecting the country's component supply chain. "Taiwan vehicle sales drop 22% in July" 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
25-07-2025
- Automotive
- Yahoo
Thai vehicle sales rise 5% in June
Thailand's new vehicle market expanded by 5% to 50,079 units in June 2025, just up from the depressed year-earlier sales of 47,662 units, according to the latest wholesale data released by the Federation of Thai Industries (FTI). June was the third consecutive month of growth for the market, after two years of sharp declines, which have been blamed mainly on tight lending criteria by banks and auto finance companies in response to sharp rises in non-performing loans (NPLs). This has left the country's highly indebted consumers and small businesses struggling to access financing. Vehicle sales last year fell by 26% to a 15-year low of 572,675 units. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The market last month continued to be driven by strong sales of battery electric vehicles (BEVs), mainly by Chinese automakers, as they continued to ramp up local production to compensate for their earlier imports under the Thai government's EV3.0 investment incentive programme. Sales of domestic pickup trucks continued to fall however. In the first half of 2025, the Thai vehicle market declined by just under 2% to 302,694 units from 308,027 units in the same period last year. Vehicle production in the country rose by 12% to 130,223 units in June, but was still down by almost 5% to 724,715 units in the first half of the year. Production for export fell by 8% to 475,013 units in the six-month period, reflecting sluggish overseas demand and rising global competition from Chinese automakers. The Thai government last month indicated it was considering introducing scrappage incentives to encourage owners to trade in their old pickup trucks for new ones. Earlier this year the government launched a THB 5 billion loan-guarantee programme, which runs until the end of the year, to support pickup truck purchases by small and medium-sized businesses. So far, this has not had a significant impact on pickup truck sales. The FTI recently revised down its full-year vehicle output forecast to 1.4 million units, from the 1.5 million forecast earlier in the year. "Thai vehicle sales rise 5% in June" 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
Yahoo
17-07-2025
- Automotive
- Yahoo
Malaysia vehicle market falls 6% in June
Malaysia's new vehicle market declined by almost 6% to 54,832 units in June 2025, from 58,142 units a year earlier, according to registration data released by the Malaysian Automotive Association (MAA). GDP growth in the country slowed to 4.4% year-on-year in the first quarter of 2025, from a downwardly revised 4.9% in the fourth quarter of 2024, reflecting slowing export growth and slightly weaker domestic consumption growth. Second-quarter growth is also expected to be weak. Malaysia's central bank cut its benchmark interest rate by 25 basis points to 2.75% at July 2025, the first cut since its last hike in May 2023, as it looks to stimulate domestic growth. In the first six months of 2025, the market declined by 5% to 372,636 units from a record high of 391,451 units in the same period last year, with light passenger vehicle sales falling by 3% to 347,084 units while commercial vehicle sales plunged by 21% to 26,552 units. Separate industry data showed that sales of battery electric vehicles (BEVs) increased by 61% to 17,143 units year-to-date, driven mainly by China's BYD Auto and its Denza brand with a combined 6,015 units, and the recently-launched Proton with 4,000 sales, while Tesla sold 2,400 units. Total vehicle production in the country fell by 10% to 392,264 units in the first half of the year. Market leader Perodua reported a 2% sales decline to 166,188 units year-to-date, slightly outperforming the overall market, with the Bezza and Axia being the country's two most popular models with 46,175 and 40,650 sales respectively. Proton's global sales fell by 2% to 72,156 units in the first six months of 2025, including 2,250 exports. The Saga was by far its best-selling model with 31,720 sales, followed by the Geely-based X50 compact SUV with 11,350 units, and the Geely-based S70 sedan with 9,345 units. UMW Toyota reported a 6% decline in first-half sales to 44,286 units, with the Vios its best-selling model with 13,390 sales, followed by the Hilux pickup truck with 11,320 units. "Malaysia vehicle market falls 6% in June" 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
