East Asian sales rose 2% in Q1 2025, with markets performances varying significantly
By Jim Gibbins - 30th June 2025
East Asia - Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, grew by just under 2% to 273,126 units in the first quarter of 2025 after plunging by 28% to 268,016 units in the same period last year, based on data compiled from numerous industry sources including industry associations and vehicle manufacturers.
The performances of the individual markets varied significantly, with some key markets such as Japan, Indonesia and Vietnam rebounding from sharp declines a year earlier, while markets such as South Korea and Malaysia declined sharply due to slowing economic growth. All countries in the region face significant economic uncertainty following the recent import tariff hikes in the US, with the full impact expected to be felt from the second quarter onwards. Significant currency exchange volatility also added to the uncertainty, causing some central banks to refrain from making further interest rate cuts.
