{"id":1703,"date":"2015-07-02T00:53:35","date_gmt":"2015-07-02T00:53:35","guid":{"rendered":"http:\/\/www.gaikindo.or.id\/en\/?p=1703"},"modified":"2017-12-07T09:28:16","modified_gmt":"2017-12-07T02:28:16","slug":"asean-vehicle-market-challenged-part-1","status":"publish","type":"post","link":"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/","title":{"rendered":"ASEAN Vehicle Market Challenged (part 1)"},"content":{"rendered":"<p>JAKARTA\u2014 Vehicle sales in the six major markets of Southeast Asian countries are facing challenges. The six countries that have been the major automobile markets of ASEAN are Thailand, Indonesia, Malaysia, Singapore, Vietnam, and the Philippines. The challenge comes in term of effort to restore the market that receded in 2014. ASEAN car market in 2014 fell by 9.7% to 3,203,256 units from 3,547,521 units in 2013.<\/p>\n<p><a href=\"\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-GRAPH-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-1695\" src=\"\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-GRAPH-1.png\" alt=\"ASEAN GRAPH 1\" width=\"737\" height=\"343\" \/><\/a><\/p>\n<p>Reflux of ASEAN automobile market in 2014 was partly due to slowing economic growth. This caused business and consumers\u2019 confidence slowly to come to recede. This phenomenon is particularly the case in the two countries\u2014 Thailand and Indonesia\u2014 which have always led the ASEAN market. Although receding in 2014, Thailand and Indonesia still top ASEAN market.<\/p>\n<p>Smaller Southeast Asian vehicle markets\u2014 Malaysia, the Philippines, and Vietnam\u2014 booked new record sales in 2014. This is due to strong economic growth. Vehicle sales in Malaysia in 2014 increased by 1.6% to 666,464 units. Singapore&#8217;s vehicle sales also grew in 2014 despite gross domestic product (GDP) slowed.<\/p>\n<p><a href=\"\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-GRAPH-2.png\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-1698 aligncenter\" src=\"\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-GRAPH-2.png\" alt=\"ASEAN GRAPH 2\" width=\"620\" height=\"264\" \/><\/a><\/p>\n<p>Economic growth in the Philippines in 2013 reached 8%. In 2014, their vehicle market increased by 27% to 270,372 units. Entering 2015, growth is predicted to occur in the automotive market, thanks to low interest rates and high consumer confidence.<\/p>\n<p>Vehicle sales in Vietnam increased by 38% to 133,588 units in 2014 to improve Vietnam&#8217;s economy after inflation in 2011 and 2012. Despite being minor market in ASEAN, Vietnamese vehicle market is predicted to be able to thrive.<\/p>\n<p><a href=\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-2\/\">ASEAN Vehicle Market Challenged (part 2)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JAKARTA\u2014 Vehicle sales in the six major markets of Southeast Asian countries are facing challenges. The six countries that have been the major automobile markets of ASEAN are Thailand, Indonesia, Malaysia, Singapore, Vietnam, and the Philippines. The challenge comes in term of effort to restore the market that receded in 2014. ASEAN car market in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[106],"tags":[207],"class_list":["post-1703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-industry-en","tag-asean-en-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ASEAN Vehicle Market Challenged (part 1) - GAIKINDO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASEAN Vehicle Market Challenged (part 1) - GAIKINDO\" \/>\n<meta property=\"og:description\" content=\"JAKARTA\u2014 Vehicle sales in the six major markets of Southeast Asian countries are facing challenges. The six countries that have been the major automobile markets of ASEAN are Thailand, Indonesia, Malaysia, Singapore, Vietnam, and the Philippines. The challenge comes in term of effort to restore the market that receded in 2014. ASEAN car market in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/\" \/>\n<meta property=\"og:site_name\" content=\"GAIKINDO\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-02T00:53:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-12-07T02:28:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-Member-map.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sigit Pramono\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/\"},\"author\":{\"name\":\"Sigit Pramono\",\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/#\/schema\/person\/2146a306de418f080e34cc1b1f499d6a\"},\"headline\":\"ASEAN Vehicle Market Challenged (part 1)\",\"datePublished\":\"2015-07-02T00:53:35+00:00\",\"dateModified\":\"2017-12-07T02:28:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/\"},\"wordCount\":237,\"publisher\":{\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.gaikindo.or.id\/en\/asean-vehicle-market-challenged-part-1\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.gaikindo.or.id\/wp-content\/uploads\/2015\/07\/ASEAN-Member-map.png\",\"keywords\":[\"ASEAN\"],\"articleSection\":[\"Industry &amp; 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