ven by a low base in February 2024, along with renewed consumer interest supported by promotional campaigns and government incentives, particularly for electric vehicles. March sustained the upward momentum, posting a 16.3% YoY increase with 31,750 units sold, comprising 14,887 CKD units and 16,863 CBU units.   Based on MarkLines Data Center figures, Toyota (excluding Lexus led the market with a 16.9% share, followed by Mitsubishi at 13.9% and F...

Market & Tech Reports  Updated at: 2025/05/21

he time for EV manufacturers to meet the EV production requirements mandated in EV 3.0. If the EV3.0 target is not reached, the manufacturers can transition to the production requirements of EV3.5, but the subsidy for EV3.5 will only be applied once EV3.0 production is completed. Export of imported CBU vehicles under EV 3.0 is also allowed, reducing local production quotas. EV 3.0 mandates domestic production of the same number of EVs in 2024 fo...

Market & Tech Reports  Updated at: 2025/05/12

EV combines a 1.5L Atkinson-cycle DOHC i-VTEC engine with a dual electric motor setup and e-CVT transmission, delivering 253 Nm of torque and achieving 27.8 km/l in fuel efficiency.   Another highlight was the e:N1, Honda's first fully electric vehicle, priced from THB 1.199 million. Imported as a CBU model from China, it is now open for booking and purchase. Offered in a single variant, the e:N1 features a minimalist premium exterior and a spac...

Market & Tech Reports  Updated at: 2025/05/08

al Expo 2025. The Porsche pavilion also showcased an impressive lineup of the brand’s other iconic models, including the Panamera GTS, Porsche 911, and the high-performance GT3 RS.   At present, Porsche’s strategy for the Indian market involves importing these models as Completely Built Units (CBUs), with no immediate plans to begin local production or assembly of the Macan BEV or Taycan BEV within the country. Porsche India sold 1,006 units...

Market & Tech Reports  Updated at: 2025/02/27

ent down by 18.4% YoY in December. This drop followed the end of the 50% exemption of registration fees for domestically produced vehicles, implemented during September 1 to November 30, 2024.   Vietnam’s 2024 annual auto sales grew 12.6% to 340,142 units, including 172,730 CKD units and 167,412 CBU units.   Based on MarkLines Data Center figures, Toyota (excluding Lexus), Ford, and Mitsubishi were the top 3 brands in 2024, holding a market s...

Market & Tech Reports  Updated at: 2025/02/25

High import duty and impact on pricing   Despite the market’s growth, high import duties continue to be a significant challenge for expanding luxury car penetration in India. Most of the luxury vehicles in India are either imported as completely knocked down (CKD) kits or completely built units (CBU). In addition to the usual taxes like GST and road tax, OEMs must also contend with customs duties before the sales process even begins.   These ...

Market & Tech Reports  Updated at: 2024/12/23

aecoo 8 through their exclusive dealer network over the next 3 years. Furthermore, Chery will expand its sales network from 50 dealers to 150 dealers by 2027. The sales target for Omoda & Jaecoo brands is 30,000 units per year. The company plans to set up a CKD production line after a short-term of CBU sales. There are also plans to start exporting by 2025.   Asia Thailand Market entry In March 2024, the Omoda & Jaecoo brands announced th...

Market & Tech Reports  Updated at: 2024/11/25

and Faxconn to start operations in 2024. Production capacity is planned to be raised to 150,000 units by 2030. Mercedes-Benz 34,000 34,000 Plant of Thonburi BMW 30,000 40,000 New EV plant will start operations in 2H 2025 Subaru 30,000 0 Plant will cease CKD assembly in 2025. Subaru will start CBU import from Japan. Neta 20,000 20,000 Plant of BGAC to start production of Neta EVs from 2024 NEX Point 9,000 9,000 Plant of Energy Absolute f...

Market & Tech Reports  Updated at: 2024/10/02

th electric two- and three-wheelers being the priority in the initial phase.         According to the Federation of Thai Industries (FTI), motorcycle production (including CKD kits for export) in 2023 decreased by 5.9% y/y to 2,473,000 units. The breakdown is as follows: completely built units (CBU) increased by 5.2% to 2,121,000 units, and complete knocked downs (CKD) for export decreased by 42.4% to 352,000 units.   Motorcycle production i...

Market & Tech Reports  Updated at: 2024/09/10

heeler EVs by 2025 and 600,000 by 2030. Value-added tax reduction: Four-wheeler BEVs and electric buses (until the end of 2024) (general vehicles are 11%)・ Domestic content rate of 40% or more: 1%; domestic content rate of 20% to less than 40%: 6%Luxury goods sales tax exemption: imported BEVs (CBU) and domestically produced cars using the CKD process・ Exemption: 15% → 0% (until the end of 2024)Import tariff exemption: EVs imported by bus...

Market & Tech Reports  Updated at: 2024/09/04

ributed to the downfall of the export of two-wheelers. Currency devaluation, high inflation, and reduction in buying power in key markets are some of the reasons that impact exports from India. Besides, some OEMs are also opening their CKD manufacturing plant in Latin America, so it will reduce the CBU export from India.   Two-wheeler export volume by OEM (thousand units) OEM FY 2022-23 FY 2023-24 YoY Change Share Major export markets Baja...

Market & Tech Reports  Updated at: 2024/06/24

n). Europe, Japan, South Korea and North America have well-developed automobile markets and relatively high entry barriers, so NEVs will be a necessary stepping stone, but more importantly, bilateral trade relations will determine the future direction. In addition, overseas markets will shift from "CBU export + KD assembly" to more thorough localization, and the keys to success in overseas markets will be quality, service, and compliance manageme...

Market & Tech Reports  Updated at: 2024/04/30

o continue in 2024 EV sales in Indonesia: 2023 sales increase 40% to 17,000 units Utilizing nickel ore to make Indonesia EV battery production hub Mitsubishi, Hyundai to increase production capacity, Citroen, BYD, Neta to start local manufacturing 2023 sales in Indonesia decline 4% to 1.01 million, CBU exports grow 7% to 510k Domestic market: Japanese OEMs launching several HV/PHV models Production Forecast by GlobalData: Indonesian production ex...

Market & Tech Reports  Updated at: 2024/04/12

d very few new launches. The OEMs mainly focused on various new powertrain technologies like hybrid vehicles, battery electric vehicles, flex-fuel vehicles, etc.   Most of the OEMs presented their already launched or announced models. Luxury OEMs presented very few local models and presented their CBU models in EV or hybrid segments. Most of the OEMs presented their flex-fuel technology which is yet to be widely adopted in the Indian market.   ...

Market & Tech Reports  Updated at: 2024/03/08

d 23.1% in the month of October and November, respectively. However, sales in December noted the first YoY growth since February 2023 as it improved 9.7% when compared with December 2022.   2023 full-year sales slid by 25.4% YoY to reach 301,989 units, of which CKD volume reached 181,380 units and CBU volume was 120,609 units.   The Vietnamese auto market’s dismal 2023 is said to be mainly due to the impact of economic factors causing consum...

Market & Tech Reports  Updated at: 2024/02/16

s a hub for BYD's operations, innovations, and collaborations, further strengthening the brand's engagement with local partners, customers, and stakeholders.     India is emerging as a good market for luxury and high-end cars. Most of the premium car makers have a presence in India either through CBU sales or CKD assembly models. Here is the list of plans and new model launches of a few premium car's OEMs in India.   Volvo Car India Volv...

Market & Tech Reports  Updated at: 2023/12/28

s). Reference data:  MarkLines Indonesian motorcycle sales volume (by model)     According to the Federation of Thai Industries (FTI), motorcycle production (including CKD kits for export) in 2022 increased by 13.7% y/y to 2.627 million units. The breakdown is as follows: completely built units (CBU) increased by 13.2% to 2.016 million units, and complete knocked down (CKD) for export increased by 15.5% to 611,000 units.   Motorcycle producti...

Market & Tech Reports  Updated at: 2023/08/25

ng new models to be launched.   Vietnam   According to Vietnam Automobile Manufacturers Association (VAMA), local automobile sales (including imported vehicles of non-VAMA manufactures' sales) during the first half of 2023 diminished by 32.0% YoY to reach 137,327 units (77,584 CKD cars and 59,743 CBU imported cars). Sales in April, May, June contracted 47.1%, 52.7%, 5.4% (YoY), respectively.   Industry experts said auto sales decline followed...

Market & Tech Reports  Updated at: 2023/08/21

ed in 2022, of which 82% were shipped to Vietnam and 18% to Indonesia. Great Wall Motor (GWM) Currently, GWM is exporting vehicles from Thailand to Laos, Brunei, and Malaysia, and plans to ship them to Vietnam, the Philippines and Singapore in the future. Toyota In 2022, Toyota exported 378,454 CBU units from Thailand, up by 30% y/y. For 2023, the automaker’s export volume is expected to increase by 7% y/y to 405,000 units. In August 2022...

Market & Tech Reports  Updated at: 2023/08/17

more: 1% ・EVs and electric buses with a local procurement rate of 20% to 40%: 6%. Malaysia By 2030, 15% of vehicle sales will be electrified vehicles (including HVs). In addition, the ratio of EVs to total vehicle sales will be increased to 38% by 2040. Tax incentives ・EV complete vehicles (CBU; completely built units): exemption from import duties and excise taxes (duration extended to the end of 2025) ・EVs assembled on site (CKD; comp...

Market & Tech Reports  Updated at: 2023/08/16