Regional sales decline in East Asia steepens in Q2
By Will Pulson - 9th October 2023
EAST ASIA - Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by almost 9% to 308,421 units in the second quarter of 2023 from 338,668 units, according to data compiled from numerous industry sources including industry associations and vehicle manufacturers.
This was a much sharper drop from the 2% decline seen in the first quarter and reflects mainly a sharp deterioration in demand in Thailand and continued weakness in Vietnam. Growth in other key markets, including Indonesia and South Korea, slowed sharply in the second quarter as the economic rebound from the Covid pandemic began to fade and as exports also weakened.
