asean has a population of more than 700 million and rich natural resources. its economy is growing rapidly and it is one of the most important economies in the world. its automobile market potential huge, the auto industry is also developing rapidly. as of september 2022, the cumulative automobile production in asean will be about 3.25 million, a year-on-year increase of about 30.4%, and the cumulative sales will be about it was 2.54 million, an increase of about 33.0% year-on-year.
figure 1: automobile production and sales in asean countries from january to september 2022
data source: asean automotive federation
looking at the data from january to september 2022, the production and sales of automobiles in asean in each month showed an increase compared with the same period last year. trend. from the perspective of the external environment, with the formal entry into force of recp, the asean region has become the new focus of the global auto industry. japanese, korean, european, and chinese brand auto companies have accelerated their deployment in the asean market. since 2018, the signing of the china-asean free trade agreement has further reduced some automobile tariffs, providing opportunities for chinese auto companies to accelerate the development of the asean market and expand cooperation in production capacity between the two sides. from the perspective of internal policies, in recent years, indonesia, thailand, and malaysia have introduced a number of policies related to the auto industry to promote the local development of the auto industry and actively promote the development of electrification in the auto industry, especially indonesia and thailand. become an ev production hub in the asean region. indonesia also introduced tax cuts in march 2021 to boost demand, a move that has also given a big boost to the country's auto industry.
table 1: automobile production and sales in september 2022 in asean countries and their month-on-month changes
data source: asean automotive federation
according to the above table, it can be seen that the top three countries in terms of automobile production and sales in asean countries in september are thailand, indonesia and malaysia. among the three countries, thailand's growth rate of automobile production and sales ranked first on a month-on-month basis. thailand is the largest automobile producer and the second largest automobile sales market in asean countries. it is currently the third largest automobile exporter in asia after japan and south korea. the automobile production conditions are superior and the industrial chain is complete. half of the automobile production is produced every year. for export. at present, the thai government is also intentionally introducing new competitors into the auto market, introducing a series of tax incentives to attract investment. well-known japanese companies such as honda, toyota, and nissan are investors in the main automotive industry in thailand. thailand is striving to become an automotive manufacturing center in the asean market.
as countries continue to accelerate the layout of the automotive industry chain in asean, deepen cooperation in the automotive industry , coupled with the rapid development of new car-making forces in the asean region, the asean auto industry will face great opportunities in the next few years and seize them.�in order to better promote the driving effect of the automobile industry on the economy.
