Yaris (Toyota)

Announced on May 8, 2024, Toyota Motor Vietnam recorded total vehicle sales of 4,593 vehicles (including Lexus cars) in April 2024, an increase of 4.0% YoY.

Sales of Toyota models reached 4,483 units, including 1,851 domestically assembled units and 2,632 imported vehicles (CBU). Sales of the HEV models reached 208 units.

Vios continues to be Toyota’s best-selling model with 923 units. Sales of the Yaris Cross reached 882 units. Meanwhile, Toyota Innova Cross sold 802 units, reaching record sales since its launch thanks to improvement in supply. 

In April 2024, Lexus sold 110 units, bringing its total cumulative sales to 12,686 units since the brand was introduced in Vietnam.

(From Toyota Vietnam press release on May 8, 2024 and on May 12, 2023)

On May 2, the Italian automobile manufacturers association (ANFIA) announced that passenger car registrations of 135,353 units in April increased 7.5% over the same month in 2023.

Year-to-date sales increased 6.1% with 586,665 cars registered in the first four months of 2024.

In April, Fiat brand registrations decreased 1.0% year-on-year (11.2% market share), Volkswagen brand registrations decreased 11.8% (7.6% share), Toyota registrations increased 65.2% (7.4% share), Dacia registrations increased 21.1% (5.8% share), Renault registrations increased 15.1% (5.2% share).

The best-selling cars in April, in order of popularity, were the Fiat Panda, Dacia Sandero, Lancia Ypsilon, Citroen C3 and Toyota Yaris.

The foreign car distributors association (UNRAE) announced that gasoline-powered passenger car sales in April increased 16.2% y/y to 43,229 units (31.6% share), diesel passenger car sales decreased 21.8% to 19,709 units (14.4% share), hybrid car (HEV) sales increased 23.0% to 54,438 units (39.7% share), plug-in hybrid car (PHEV) and REx combined sales decreased 26.1% to 4,482 units (3.3% share), and electric vehicle (BEV) sales decreased 19.6% to 3,208 units (2.3% share).

(ANFIA release from May 2, 2024) (UNRAE release from May 2, 2024)

According to the Federation of Thai Industries (FTI), March vehicle sales in Thailand decreased 29.8% year over year (YoY) to 56,099 units from the same period in 2023. Sales of passenger cars, pure pickups, PPVs, and 5-10-ton trucks all recorded a double-digit YoY drop. In the first quarter of 2024, vehicle sales reached 163,756 units, down 24.6% YoY. According to the FTI, the auto loan rejections were high. The negative factors included (i) financial institutions’ stricter auto loan criteria, (ii) high household debt, (iii) a weak economy, and (iv) a delay in the 2024 fiscal budget that hampered many activities of the public and private segments. The FTI expected to see the local auto market recover in the second half of 2024. 

According to data compiled by Toyota Motor Thailand (TMT), by maker sales in March, Toyota (including Lexus) was down 16.1% to 21,582 units. Isuzu was down 48.3% to 8,861 units and Honda was down 19.3% to 8,219 units. Mitsubishi is in the 4th position with 26.0% down to 3,012 units and Ford sales were down 57.2% to 1,745 units. Among other Chinese brands, MG was ranked 6th with 11.0% down to 1,707 units, while BYD was ranked 7th with 53.5% down to 1,132 units.

By body type, passenger cars were down 25.1% year over year to 22,342 units. Commercial vehicle sales were down 32.6% to 33,757 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 45.5% to 19,648 units.

The Toyota Hilux was the bestselling model (registration base) in March with 7,790 units, followed by Isuzu D-Max with 6,628 units, Toyota Yaris ATIV with 4,297 units, Toyota Yaris Cross with 3,607 units and Honda City with 3,193 units.

The FTI announced that new vehicle production in March was 138,331 units, down 23.1% YoY. Vehicle production for domestic sales and exports in March 2024 contributed 33.6% and 66.4% respectively. In January-March 2024, vehicle production decreased 18.4% to 414,123 units.

Vehicle exports in March 2024 were 95,089 units, down 3.3% YoY. The FTI also revealed that exports of HEVs reached 4,888 units in March. Despite a YoY decline, the FTI pointed out that monthly vehicle exports figure of over 90,000 units is considered great. Exports to countries that are Thailand’s trading partners, such as Australia, the Philippines, the U.S., Mexico, the UK, etc. increased. However, international conflicts must be monitored, as they may hit vehicle exports. The vehicle export value in March was THB 67.9 billion, up 12.0% year over year. Vehicle exports in the first 3 months of 2024 reached 270,575 units, down 1.2% YoY.