Chinese New Energy Vehicle Brands Hold Over 60% Market Share in ASEAN, With Indonesia Reaching 91%

[CNMO Tech News] July 16, @NEVData released observation data on the Southeast Asia automotive market: Chinese brand market share in the six ASEAN countries (Indonesia, Malaysia, Thailand, Vietnam, Philippines, Singapore) exceeds 60% in the new energy sector. Among them, Indonesia reached as high as 91%.

Chinese New Energy Vehicles

According to statistics, cumulative sales of passenger cars and pickups in the six ASEAN countries in the first half of the year totaled 1.9246 million, up 7.2% year-on-year. Specifically for June data, retail sales of passenger cars and pickups were 332,700, up 9.7% year-on-year. Indonesia (passenger cars, same for subsequent mentions) sales were 74,507 units, up 10.5% year-on-year; Malaysia sales were 72,943 units, up 23.1% year-on-year; Thailand sales were 68,912 units, up 11.2% year-on-year; Vietnam and Philippines sold 51,366 and 38,124 units respectively, up 6.4% and 4.1% year-on-year; Singapore was the only country with sales declining year-on-year, selling 6,948 units, down 1.8%.

Data shows, June NEV penetration rates varied significantly across countries. Singapore ranked first with a penetration rate of 66.4%, up 19.2% year-on-year; Vietnam and Thailand ranked second and third with penetration rates of 41% and 30.3% respectively, up 94.7% and 31% year-on-year. Although Indonesia and Malaysia penetration rates were under 20%, they surged 78% and 122% year-on-year. The Philippines lagged severely due to a lack of charging infrastructure, with a penetration rate of only 2.1%. These market increments were mainly contributed by Chinese new energy vehicle brands.

In the new energy sector, Chinese brand market share exceeds 60%. Among them, Malaysia reached 62%, Thailand 78%, Indonesia 91%. However, in the overall market, Japanese brands still lead with 68%. However, the overall market share of Chinese brands increased by 6.2 percentage points year-on-year (reaching 13.7%), reaching 17.3% in Thailand, surpassing Japanese and South Korean brands to become the largest group.