GlobalData blog: Thailand’s automotive market faces critical challenges amidst shifting regional landscape Thailand’s position in the ASEAN automotive landscape is facing increasing pressure as regional dynamics shift. The country experienced a staggering 26% YoY decline in Light Vehicle (LV) sales in 2024, and the outlook for 2025 remains bleak, with a further contraction of 7% YoY experienced in Q1 compared to an already depressed base duri...

News  Updated at: 2025/06/12

Highest number of automotive parts suppliers go bankrupt in FY 2024 in decade According to “bankruptcies of Japanese automotive suppliers” announced by Teikoku Databank, Ltd., 32 parts suppliers went bankrupt in the fiscal year that ended in March 2025 (FY 2024), marking the largest figure in the past 10 years and an increase for the third year in a row. About 60% (20 companies) out of the 32 had liabilities less than JPY 100 million. There w...

News  Updated at: 2025/05/16

Koito Manufacturing to dissolve and liquidate Fuzhou Koito in China Koito Manufacturing Co. Ltd. (Koito Manufacturing) announced that it will liquidate its Chinese consolidated subsidiary, Fuzhou Koito Automotive Lamp Co., Ltd. (Fuzhou Koito). Established in December 1995 as a wholly owned subsidiary of Koito Manufacturing, Fuzhou Koito has been responsible for the manufacture and sale of automotive lamps. The dissolution resolution is scheduled ...

News  Updated at: 2025/04/08

FY 2024 new vehicle sales in Japan exceed previous year's level for third consecutive year In the fiscal year ended March 31, 2025 (FY 2024), Japanese new vehicle sales (total of mini-vehicles and registered vehicles (vehicles other than mini-vehicles)) increased by 1.0% year-over-year (y/y) to 4,575,705 units, marking a y/y growth for the third consecutive year. Although the number of registered or reported vehicles fell due to the suspension of...

News  Updated at: 2025/04/02

JLR launches innovation challenge to enhance supply chain resilience with AI and big data On March 19, JLR announced its partnership with Plug and Play, to launch its second innovation challenge, by inviting startups and researchers to develop advanced supply chain mapping technology. The winners will collaborate with JLR experts on a proof of concept. Since the COVID-19 pandemic, JLR has improved supply chain efficiency and visibility to prevent...

News  Updated at: 2025/03/20

CLEPA reports 54,000 job losses in 2024 due to declining car production and EV investment On January 15, the European Association of Automotive Suppliers (CLEPA) announced that the European automotive supply industry faced a difficult year in 2024 - a record 54,000 jobs cuts announced in the automotive supply industry in 2024 alone. This surpasses the job cuts which were announced during both the COVID-19 pandemic years 2020 and 2021 combined, wh...

News  Updated at: 2025/01/22

GlobalData blog: Nearly five years post-pandemic: where are we now? America's automotive production and inventory, and ultimately sales, all took a massive hit and have not fully recovered. It begs the question: will things ever get back to where they were before? It has been almost five years since the start of the COVID-19 pandemic and resulting semiconductor shortages that rocked the North American region. The impacts that followed include dis...

News  Updated at: 2025/01/15

GlobalData Blog: Thailand’s automotive industry at a crossroads Thailand’s automotive industry stands at a crossroads. While it remains a significant player in the ASEAN region, its traditional strengths are under pressure from global trends and domestic challenges. Thailand, formerly known as “the Detroit of Asia,” is losing its competitive edge as a major auto production hub and exporter, as overseas buyers are increasingly switching to...

News  Updated at: 2024/12/12

Thai auto parts firm Yarnapund PCL lays off all workers amid financial problems Reported on November 28, 2024, the Thailand-based auto parts company Yarnapund PCL (YNP) has clarified its decision to lay off all its employees, which reportedly affected up to 800-900 jobs. YNP said it has experienced financial problems and a lack of working capital for its operations amid the current conditions of the automotive industry and the effects of COVID-19...

News  Updated at: 2024/12/02

Industry Ministry proposes incentives for HEVs in Indonesia Reported on November 26, 2024, Indonesia’s Industry Ministry has proposed a stimulus in the form of incentives for HEVs in Indonesia. According to the Industry Minister, if the discussion process goes smoothly, the implementation of the incentives could begin in early 2025.  This incentive plan is a continuation of the previous government's steps which had implemented the Government-b...

News  Updated at: 2024/12/02

Toyota sees delays in introduction of new vehicle models Toyota Motor Corporation’s (Toyota) new vehicle development is behind schedule. This is believed to be due to the company thoroughly checking each process as a measure against certification fraud. Furthermore, due to frequent delays in partial improvement, suspensions of orders for popular minivans and commercial vehicles have been longer than expected. The executive of a Toyota Group dea...

News  Updated at: 2024/11/27

Renesas Electronics to reduce production of automotive semiconductors On October 31, Renesas Electronics Corporation (Renesas Electronics) announced its plan to reduce production of its mainstay automotive semiconductors. While the company saw recovery in the supply of automotive semiconductors after the end of the COVID-19 pandemic, it now has overstocked inventories. Renesas Electronics will reduce production and reconsider the start date of vo...

News  Updated at: 2024/11/01

CLEPA reports worst job losses in European automotive supply industry since COVID-19 crisis On October 22, CLEPA (European Association of Automotive Suppliers) announced that the European automotive supply industry is facing its most severe job losses since the COVID-19 crisis. CLEPA projects that roughly 86,000 jobs have been lost in the sector since 2020. These losses are driven by declining demand, rising production costs, and delayed investme...

News  Updated at: 2024/10/23

Gaikindo asks for govt. support amid Indonesia’s declining car production and sales Announced on October 2, 2024, the Association of Indonesian Automotive Industries (Gaikindo) said the weakening of local car production is inseparable from the sluggish car sales throughout 2024. Based on the Gaikindo’s data, local car production in August 2024 reached 107,263 units (down 14.6% YoY). Car production in the first 8 months of 2024 also slid by 18...

News  Updated at: 2024/10/07

January-September new medium-duty truck sales in Japan up 5.4% y/y to 53,421 units The total sales of medium- and heavy-duty trucks (payload capacity 4 tons or more) in Japan in the period from January to September 2024 increased by 5.4% year-over-over (y/y) to 53,421 units for the second year in a row. The increase in heavy-duty truck sales was helped by Hino Motors, Ltd.’s (Hino) recovery of production. On the other hand, sales of medium-duty...

News  Updated at: 2024/10/07

GlobalData blog: Are more expensive cars here to stay? The prices of light vehicles surged in the aftermath of the pandemic, but will they ever come down? No, it isn’t your imagination – vehicles really have become significantly more expensive over recent years. Before the COVID-19 pandemic began, Light Vehicle (LV) prices mostly tracked with inflation in the wider US economy, and average disposable incomes were also rising in line with price...

News  Updated at: 2024/10/04

GlobalData blog: The India vs. China discussion A comparison between India and China often emerges as a focal point in discussions and industry conferences. A recurring question is whether India’s automotive market will encounter a take-off point akin to China’s. In my assessment, this scenario is improbable. There are obviously major disparities between these two Asian behemoths, ranging from their forms of government to the development, com...

News  Updated at: 2024/10/02

April-September new vehicle sales in Japan drop by 2.6% y/y In the period April-September 2024 (H1 2024), Japanese new vehicle sales (total of mini-vehicles and registered vehicles (vehicles other than mini-vehicles)) decreased by 2.6% year-over-year (y/y) to 2,168,729 units for the first time in two years. The recovery of demand was negatively affected by the suspension of shipment of certain car models by Daihatsu Motor Co., Ltd., Toyota Motor ...

News  Updated at: 2024/10/02

U.S. port workers strike on East and Gulf Coasts On October 1, 36 East and Gulf coast ports shut down as 45,000 union workers walked off the job after labor negotiations stalled between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) in a strike which could become one of the greatest supply chain disruptions since COVID-19.  Members of the ILA walked out for the first time since 1977 in a standof...

News  Updated at: 2024/10/02

Iwai to become wholly-owned subsidiary of Serendip Holding Serendip Holdings Co., Ltd. (Serendip) announced that it will acquire a 100% stake in Iwai Industry Co., Ltd. (Tsu City, Mie Prefecture), an automotive body and seat component processing company, on October 11, 2024, to make it a wholly owned subsidiary. Serendip Holdings will acquire Iwai’s shares through a new special purpose company (SPC) to be jointly established with a fund managed...

News  Updated at: 2024/09/10