The Thai market for commercial vehicles over 2 tons gvw is estimated to have fallen by 37% in the second quarter of 2023 compared with the same period of last year.

The Philippines market for commercial vehicles over 2 tons gvw continued to edge lower in the second quarter of 2023 following a strong rebound to 28,002 units in the same period of last year.

Sales of commercial vehicles in China continued to recover moderately in July 2023, with sales rising by 17% compared with the same month a year earlier.

The Indonesian market for commercial vehicles over 2 tons gvw continued to grow in the second quarter of 2023, albeit at the much slower pace of 5% following a 26% jump in the same period of last year.

The Malaysian commercial vehicle market over 2 tons gvw weakened slightly in the second quarter of 2023, with sales falling by 3% after volumes almost doubled in the same period of last year as the economy rebounded from the previous year’s lockdowns.

Japan’s commercial vehicle market over 2 tons gvw continued to recover in the second quarter of 2023, with sales rising by 11%compared with the same period a year earlier.

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.

Tractor sales in the first quarter (April to June) of 2023-24 increased by 51.9% to register 14,479 units compared with 9,535 units in the same quarter of the previous year (FY 2022-23).

Sales of medium and heavy-duty rigid trucks (7.5t gvw and above) in India experienced a contraction of 10.4% in Q1 (April-June) of FY2023-24 to register 52,356 units, down from 58,443 units in same quarter of the year 2022-23.

Latent demand has boosted sales of buses and coaches (7.5t GVW and above) in India, amongst other reasons, with registrations up by 38.9% in the first quarter (April to June) of the financial year 2023-24 to register 10,939 units compared with 7,876 units in the same quarter of the previous financial year (FY2022-23).

Sales of light-duty buses and coaches (7.5t & below) rose by 24.6% to register 14,438 units in the first fiscal quarter (April to June) of 2023, up from 11,590 units in Q1 of FY2022.

Sales of light-duty trucks (goods carrier vehicles of GVW ≤ 7.5t) in the first quarter (April to June) of fiscal year 2023-24 decreased by 8.9% to 124,834 units, down from 137,044 units in same period of Q1/FY2022-23.