The Thai market for commercial vehicles over 2 tons gvw is estimated to have plunged by a further 22% year-on-year to 50,516 units in the second quarter of 2024, having fallen by close to 37% to 64,567 units in the same period of last year.

The Indonesian market for commercial vehicles over 2 tons gvw continued to weaken in the second quarter of 2024, by 13% to 31,745 units from strong year-earlier sales of 36,474 units.

Vietnam’s market for commercial vehicles over 2 tons gvw began to recover in the second quarter of 2024 after almost two years of sharp decline.

South Korea’s commercial vehicle market over 2 tons gvw continued to decline in the second quarter of 2024, by over 12% to 53,662 units from 61,318 units in the same period of last year.

The Philippine market for commercial vehicles over 2 tons gvw continued to grow in the second quarter of 2024, by just over 4% to 29,273 units from 28,094 units a year earlier.

Japan’s commercial vehicle market over 2 tons gvw continued to decline in the second quarter of 2024, by over 6% to 81,114 units from 86,752 units a year earlier.

Sales for commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to decline in the second quarter of 2024.

Generative AI is a type of artificial intelligence used to create entirely new solutions within a specific field.

This marked an important milestone in the electric pickup truck manufacturer’s global expansion, with the Thai subsidiary to serve as a hub for the company’s expansion into other markets in South-east Asia. Radar also launched its Riddara brand in Thailand.

Shyft says the acquisition will allow it to enter new markets and “capture a greater share of higher class-sized products”, particularly larger vehicles and complex service body upfitting.

TMC stated it had completed construction of the US$37m assembly line earlier this year in the Phnom Penh Special Economic Zone in the country’s capital city.

The plan is to start mass production of a battery-powered version of the Hilux pickup truck for Thailand and for export.