Car sales across Southeast Asia rose approximately 11% year-on-year in the second quarter of 2023, buoyed by increasing demand for electric vehicles, according to KrASIA. This growth was largely driven by strong performances in key markets including Indonesia, Malaysia, and Thailand.
Indonesia led the region with a remarkable 34% surge in car sales during the April-to-June period, highlighting the country’s expanding automotive market and growing consumer interest in EVs. Malaysia and Thailand also contributed to the overall positive trend in the region.
For Japanese investors and companies, this uptick in Southeast Asian automotive sales underscores the region’s rising importance as a growth market, particularly in the electric vehicle segment where Japanese manufacturers have a strong presence.