Hilux (Toyota)

The Associacao Nacional dos Fabricantes de Veiculos Automores (ANFAVEA) announced that Brazilian vehicle sales (including trucks and buses) in March 2024 of 187,731 units represented an decrease of 5.7% from March 2023.

Vehicle sales in March consisted of 137,918 passenger cars; 38,312 light commercial vehicles; 9,887 trucks; and 1,614 buses.

Among passenger vehicle manufacturers, FCA sold 29,174 units (21.2% share), VW sold 25,908 units (18.8%), GM sold 17,488 units (12.7%), Toyota sold 11,436 units (8.3%) and Hyundai sold 10,826 units (7.8%). Among light commercial vehicle manufacturers, FCA sold 18,520 units (48.3% share), VW sold 4,872 units (12.7%), GM sold 3,977 units (10.4%), Toyota sold 3,499 units (9.1%), Renault sold 2,020 units (5.3%).

The VW Polo was the best-selling passenger vehicle in March with 11,943 sales, followed by the Chevrolet Onix with 7,753 sales, Fiat Argo with 6,850 sales, VW T Cross with 5,462 sales, Hyundai HB20 with 5,288 sales, Nissan Kicks with 5,034 sales, and Chevrolet Tracker with 4,711 sales.

The Fiat Strada was the best-selling commercial vehicle in March with 9,990 sales, followed by the VW Saveiro with 4,607 sales, Fiat Toro with 3,957 sales, Toyota Hilux with 3,498 sales, GM Montana with 2,165 sales, Ram Rampage with 2,133 sales, and Chevrolet S10 with 1,740 sales.

In ANFAVEA's sales report by fuel type, sales of flexible fuel vehicles were down 10.5% y/y to 138,786 units (78.8% share), diesel vehicles were down 21.4% to 16,060 units (9.1%), gasoline vehicles increased 57.8% to 7,776 units (4.4%), hybrid vehicles increased 32.4% to 4,454 units (2.5%), Plug-in hybrid vehicles increased 48.4% to 3,022 units (1.7%) and electric vehicles increased 950.0% to 6,132 units (3.5%).

On March 8, Scotiabank maintained its previous January forecast, estimating full-year Brazilian sales of 2.27 million units in 2024 and 2.38 million units in 2025.

(ANFAVEA release on April 8, 2024)  (Fenabrave press release on April 3, 2024)(Scotiabank release on March 7, 2024)

On April 3, the Brazilian dealer association Federacao Nacional da Distribuicao de Veiculos Automotores (Fenabrave) announced combined sales of 187,729 new passenger cars, light commercial vehicles, trucks, and buses in March 2024, a decrease of 5.6% compared to March 2023 and increase of 13.6% from February 2024.

Vehicle sales in March 2024 consisted of 137,889 passenger cars; 38,093 commercial vehicles; 9,701 trucks; and 2,046 buses.

Among passenger vehicle sales manufacturers in March, VW sold 25,907 units (18.8% share), Fiat sold 20,252 units (14.7%), GM sold 17,483 units (12.7%), Toyota sold 11,355 units (8.2%), Hyundai sold 10,903 units (7.9%), Jeep sold 8,903 units (6.5%), and Renault sold 7,355 units (5.3%).

Among light commercial vehicle sales in March, Fiat sold 16,084 vehicles (42.2% share), VW sold 4,872 vehicles (12.8%), GM sold 3,973 units (10.4%), Toyota sold 3,499 units (9.2%), Ram sold 2,580 vehicles (6.8%), Renault sold 2,031 vehicles (5.3%), and Ford sold 1,945 vehicles (5.1%).

The VW Polo was the best-selling passenger vehicle in March with 11,943 sales, followed by the Chevrolet Onix with 7,753 sales, Fiat Argo with 6,850 sales, VW T Cross with 5,462 sales, Hyundai HB20 with 5,288 sales, Nissan Kicks with 5,034 sales, and Chevrolet Tracker with 4,711 sales.

The Fiat Strada was the best-selling commercial vehicle in March with 9,990 sales, followed by the VW Saveiro with 4,607 sales, Fiat Toro with 3,957 sales, Toyota Hilux with 3,498 sales, GM Montana with 2,165 sales, Ram Rampage with 2,133 sales, and Chevrolet S10 with 1,740 sales.

Cumulative sales for the three months of the year were up 9.1% y/y to 514,517 units.

On March 7, Scotiabank maintained its previous February forecast, estimating full-year Brazilian sales of 2.27 million units in 2024 and 2.38 million units in 2025.

(Fenabrave press release on April 3, 2024)(Scotiabank release on March 7, 2024)

According to the Federation of Thai Industries (FTI), February vehicle sales in Thailand decreased 26.1% year over year (YoY) to 52,843 units from the same period in 2023. The key negative factors pointed out by the FTI were still a stringent requirement of financial institutions for an auto loan and high household debt, an economic slowdown, and a delay in the 2024 fiscal budget. In February 2024, sales of passenger cars, pure pickups, PPVs, and 5-10 ton trucks all recorded a YoY drop.

According to data compiled by Toyota Motor Thailand (TMT), by maker sales in February, Toyota (including Lexus) was down 23.1% to 19,702 units. Honda was down 1.4% to 8,587 units and Isuzu was down 50.2% to 7,653 units. Mitsubishi is in the 4th position with 26.4% down to 2,655 units and Ford sales were down 38.6% to 2,206 units. Among other Chinese brands, BYD was ranked 7th with 46.4% down to 1,109 units, while Great Wall Motor (GWM) was ranked 9th with 21.7% up to 943 units.

By body type, passenger cars were down 20.1% year over year to 19,861 units. Commercial vehicle sales were down 29.4% to 32,982 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 44.0% to 18,839 units.

The Toyota Hilux was the bestselling model (registration base) in February with 8,071 units, followed by Isuzu D-Max with 6,822 units, Toyota Yaris ATIV with 4,741 units, Honda City with 3,591 units and Toyota Yaris Cross with 2,934 units and The FTI announced that new vehicle production in February was 133,690 units, down 19.3% YoY. Vehicle production for domestic sales and exports in February 2024 contributed 35.1% and 64.9% respectively. In January-February 2024, vehicle production decreased 15.9% to 275,792 units.

Vehicle exports in February 2024 were 88,720 units, up 0.2% YoY. In February, exports to Asia, the Middle East, Africa, and Europe saw a YoY decline, as some of the countries that are Thailand’s trading partners witnessed an economic slowdown. Moreover, due to the Red Sea crisis, shipping took longer time as shipping companies, for their safety, preferred to sail around the Cape of Good Hope instead. The vehicle export value in February was THB 60.6 billion, up 10.7% year over year. Vehicle exports in the first 2 months of 2024 reached 175,436 units, up 0.1% YoY.