Regional sales decline in East Asia continues in Q4 2024
By Will Pulson - 1st April 2025
East Asia - Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by 16% to 268,373 in the fourth quarter of 2024 from 319,099 units a year earlier, based on data compiled from numerous industry sources including industry associations and vehicle manufacturers.
The sharp decline seen earlier in the year continued in the fourth quarter, despite an increasing number of central banks cutting interest rates as they responded to slowing domestic economic growth. After rebounding strongly from the pandemic lows in the previous two years, vehicle sales in most markets in the region dropped last year as pent-up demand has now been largely fulfilled. Overall regional sales declined by 18% to 1,090,285 units in 2024 from 1,326,825 units in 2023.
