turer, many OEMs, including Mexico's top two automakers, GM and Nissan, expanded their production scale in 2024. All OEMs in Mexico are ramping up production, particularly in the SUV segment, to meet demand in the U.S., the most important export destination.   In response to the U.S. import tariff policy, automakers have begun to examine the impact and consider possible countermeasures, with some announcing plans to adjust production or transfer...

Market & Tech Reports  Updated at: 2025/07/11

posal and the mining of rare metals associated with the progress of electrification, from the perspective of the 3Rs: "Reduce," "Reuse," and "Recycle," in accordance with various drive systems, including ICE vehicles, HEVs, PHEVs, BEVs, and FCEVs.   Toyota's three approach to a circular economy Policy Overview Use less material In addition to commonization and reducing the number of parts, Toyota is promoting vehicle manufacturing without u...

Market & Tech Reports  Updated at: 2025/06/25

ruggled to meet expectations, with it facing a drag from weak consumer confidence and broader economic uncertainty. In Eastern Europe, the LV selling rate remained broadly flat at 4.3 mn units in May. Sales were down nearly 6% YoY. The Russian LV market declined by 29% YoY in May — tight monetary policy and stalled consumer credit growth are restricting auto financing. LV sales in Turkey were up 4% YoY in May as sales reached 103k units. LV dem...

Market & Tech Reports  Updated at: 2025/06/19

Indonesia: BYD, GAC Aion and VinFast set up EV plants Government provides tax incentives for EVs and HVs, EV battery production grows Summary Electrification policy: In 2025, value added tax, import duties, and luxury goods sales tax reduction for EVs; luxury goods sales tax reduction for HVs Electrified vehicle sales in Indonesia: 2024 BEV sales increase 2.5 times to 43,000 units VinFast, BYD and GAC Aion to build EV plants Increasing production...

Market & Tech Reports  Updated at: 2025/06/13

site - - - - - - - - 5 Total 15GWh Total 46 75 166 340 580 760 850 940 1025 (- indicates unknown, Total includes estimated values)   The growth of CATL in the battery industry has been phenomenal, with R&D accounting for more than 4% of full year sales, plus favorable factors in line with policy. CATL sales have exploded and gross profit margins have remained above 20% for several consecutive years. With the explosive growth of the NEV ...

Market & Tech Reports  Updated at: 2025/06/12

ration in 2025, and is expected to maintain its lead for the time being. On the other hand, Geely and its group subsidiary Volvo Cars are planning to launch new and redesigned PHV models in 2025, and the entry of more competing models is also expected to increase.     At the company's "Business Policy Presentation" held on January 24, 2025, BYD Japan announced that it will launch its first PHV in the Japanese market by the end of 2025. It is...

Market & Tech Reports  Updated at: 2025/06/02

bout 47% in Japan. The company is a top supplier of service parts where, for example, they are the top supplier of disc pads to OEMs in the Japanese market, and they are also the top supplier in the aftermarket. Affiliation: Formerly an independent brake parts manufacturer established as a national policy with the aim of introducing technology from the U.S. company Bendix Corporation, but currently a business revitalization fund holds 50.72% of t...

Market & Tech Reports  Updated at: 2025/05/29

rnal environment. Both production and sales of New Energy Vehicles (NEVs: BEVs, PHEVs, FCEVs), in particular, continued to grow rapidly.   On April 29, the Electric Vehicle Association of Thailand (EVAT) met with directors of the China Automotive Technology and Research Center (CATARC) to exchange policy information, discuss industry trends, and consider future cooperation between the two organizations. Key topics included the spread of New Ener...

Market & Tech Reports  Updated at: 2025/05/26

bruary’s, citing seasonal campaigns and festive demand as key drivers. Nevertheless, the association forecasts a 4.5% YoY decline in total vehicle sales for 2025, pointing to downside risks such as the ongoing U.S.-China trade tensions and potential mid-year revisions to Malaysia’s fuel subsidy policy.   In a related development, the Malaysian government has dismissed reports of a potential 30% price increase for CKD vehicles and motorcycles...

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

cast) Thailand's domestic market: 1-ton pickup truck sales down 38% GlobalData Production Forecast: Thai production expected to be 1.82 million units in 2028 BYD’s mid-size SUV, Sealion 6 DM-i (Unveiled at the Bangkok International Motor Show in March 2025) The Thai government has set a policy of making electric vehicles (EVs) account for 30% of domestic automobile production by 2030 and has been expanding EV production, but EV sales ...

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

er another since around 2021, and by 2024 they accounted for 10% of the market share. Many Chinese brands are offering electric vehicles, including battery EVs, in a wide range of segments from sedans to pickup trucks.   Claudia Sheinbaum, who became the President of Mexico last October, has set a policy of strengthening domestic investment to strengthen industry, and as one of these measures, she announced a plan to manufacture and sell purely ...

Market & Tech Reports  Updated at: 2025/04/30

o into effect on May 3. Parts that are compliant with the USMCA rules will not be taxed until the US Commerce Department establishes a process to apply the tariff to only non-US content. Tariffs in excess of 100% on Chinese BEVs were imposed under the Biden administration and are still in effect, a policy that appears to be having its intended effect of making it virtually prohibitive to import LVs from China to the US. The latest tariff news cam...

Market & Tech Reports  Updated at: 2025/04/30

3,000 units.   The third-place Wuling Hongguang MINIEV and the sixth-place Geely Xingyuan have continuously ranked in the top ten since January. In China, it is believed that the sales of low-priced small EVs are increasing due to the benefits of the expanded automobile replacement support subsidy policy since January.     The following table shows electric vehicle sales by automaker (major OEMs, Tesla, and major Chinese electric vehicle ma...

Market & Tech Reports  Updated at: 2025/04/25

, along with FAW, will launch 10 VW and Jetta brand NEV models from 2026 onward. Nissan will release five NEV models with Dongfeng by the end of 2026. General Motors will launch more than 10 NEV models between 2025 and 2026. Dongfeng PSA has announced a new NEV brand with Stellantis.   In terms of policy, in January 2025, the National Development and Reform Commission and the Chinese Ministry of Finance issued the Notice on Expanding the Scope o...

Market & Tech Reports  Updated at: 2025/04/24

on the previous month and higher overall than the 2024 result. In YoY terms, the market was up 7% last month and 6% YTD, though clouds are gathering over the global economic outlook. The key markets of the US, China, and Western Europe all experienced growth in March 2025. However, US protectionist policy and related uncertainty are set to have a tangible impact on the global economic landscape through this year and beyond. In the US market, ther...

Market & Tech Reports  Updated at: 2025/04/18

so it is unlikely to be adopted in other than Japanese OEM vehicles. There are very few new models in the U.S. The launch of BEVs, which has continued for several years, will now come to an end, and from here on out, it is likely that the direction of the new Trump administration's decarbonization policy will be assessed.   It is difficult to predict the impact of government policies on future trends, but if Stellantis launches Dodge and Jeep ...

Market & Tech Reports  Updated at: 2025/04/15

ing mixed production line, it will be possible to reduce the initial capital investment required for building a new battery EV-only plant by 85% and shorten the mass production preparation period by 80%.   Mazda is promoting electrification in three phases through 2030 based on the 2030 Management Policy, and plans to introduce Mazda's first BEV that uses an EV-specific platform in 2027.   Outline of the Plan for the stable supply of storage ba...

Market & Tech Reports  Updated at: 2025/04/01

a N Line Ioniq 5N   According to GAIKINDO, Hyundai remains in ninth place for wholesale sales in 2024 with 22,000 units, down 37% from the previous year, while 10th-place SAIC-GM-Wuling is almost at the same level and 11th-place BYD is close behind with 15,000 units. Indonesia has implemented a policy to exempt tariffs on BEVs imported by businesses that produce locally, leading to an increase in relatively inexpensive Chinese EVs entering th...

Market & Tech Reports  Updated at: 2025/03/31

was released to correct the defect. In March, the company reportedly recalled 46,096 units of 2024 and 2025 Cybertruck models due to a problem with the outer panels coming off while driving.   In Canada, there are also moves to exclude Tesla from EV-related incentives in protest against U.S. trade policy and Elon Musk's support for President Trump. In addition, violent protests against Tesla vehicles and dealerships have been observed in various...

Market & Tech Reports  Updated at: 2025/03/26

S. announced it would impose an additional 25% tariff on steel and aluminum imports from all countries. In addition, the U.S. is also considering imposing additional tariffs on imported vehicles from April onwards. Concerns from the industry as a whole are also growing, with the American Automotive Policy Council (AAPC) issuing a statement opposing additional tariffs. If the additional tariffs are imposed by the United States, various manufacture...

Market & Tech Reports  Updated at: 2025/02/26