Malaysia stands as the third-largest commercial vehicle (CV) market in the Asia Pacific region, following Indonesia and Thailand, and is currently undergoing a rapid growth phase. Pickup trucks dominate the market, accounting for the largest share in terms of sales and production. Prior to the establishment of the national automotive company Proton, Japanese companies held over 70% of Malaysia’s domestic market, encompassing both passenger cars and commercial vehicles. While most imported parts are utilized for Completely Knocked Down (CKD) production, some are produced locally through joint ventures or alliances with foreign companies.

The trade dynamics of commercial vehicles in Malaysia mirror those of passenger cars. The country has been grappling with a trade deficit in the import and export of commercial vehicles. However, compared to passenger vehicles, the volume of commercial vehicle imports in Malaysia is significantly smaller due to the limited size of the domestic market and negligible commercial vehicle exports. The primary export destinations for Malaysian commercial vehicles include Indonesia, Thailand, and Papua New Guinea. Exports to Indonesia and Thailand have exhibited fluctuations from year to year, while exports to Papua New Guinea have shown a consistent upward trend.

Since 2015, there has been a noticeable shift in consumer preference in Malaysia from C-segment vehicles to pickup trucks. This shift can be attributed to the diverse features offered by pickup trucks, an increase in the number of entrepreneurs in this segment, and the availability of affordable pickup truck models. Numerous Original Equipment Manufacturers (OEMs) have capitalized on this trend by offering multiple variants and retrofitted models. The reliability and high resale value of pickup trucks have further fueled the growing demand in Malaysia.

From 2018 to 2022, as analyzed by CRI, the sales of light commercial vehicles in Malaysia displayed a fluctuating pattern, initially decreasing and then increasing, with a Compound Annual Growth Rate (CAGR) of 17.45% from 2019 to 2022. The Covid-19 pandemic led to a 5.09% decline in annual light commercial vehicle sales in Malaysia in 2020, with a total of 37,000 units sold. Subsequently, with the gradual easing of restrictions and the recovery of the economy and supply chain, Malaysia’s light commercial vehicle market began to rebound in 2021 and 2022. During these years, annual sales of light commercial vehicles increased by 20.14% and 42.08%, respectively, with sales figures reaching 44,000 units and 63,000 units.

Boasting an impressive 89% Internet penetration rate, Malaysia ranks among the top Southeast Asian nations for Internet usage. The country’s e-commerce market is experiencing rapid growth, surpassing mature markets in the region. In 2022 alone, the Malaysian e-commerce market is expected to grow by 20%. This growth aligns with a rising consumer preference for online shopping and the availability of customized payment options. Projections indicate that by 2027, Malaysia’s e-commerce market will reach $16.98 billion, growing at a CAGR of 13.6%. The robust expansion of the e-commerce sector has spurred increased demand for logistics and courier services in Malaysia, contributing to the growing need for light trucks.

CRI anticipates that Malaysia’s annual light truck sales will reach 145,000 units by 2032, experiencing a compound annual growth rate (CAGR) of 8.7% during the 2023-2032 period.

Topics covered:

• Overview of the Light Truck Industry in Malaysia
• Economic and Policy Environment of Light Truck Industry in Malaysia
• What is the impact of COVID-19 on the light truck industry in Malaysia?
• Malaysia Light Truck Industry Market Size, 2023-2032
• Analysis of Major Malaysian Light Truck Industry Players
• Key Drivers and Market Opportunities for Light Truck Industry in Malaysia
• What are the key drivers, challenges and opportunities for the Light Truck industry in Malaysia during the forecast period 2023-2032?
• Which are the key players in the Malaysia Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Malaysia Light Truck Industry market during the forecast period 2023-2032?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Malaysia light truck industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors faced by the Light Trucks industry in Malaysia?

Other related reports:

• Indonesia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1 Malaysia at a Glance

1.1 Geographical Situation

1.2 Malaysia’s Demographic Structure

1.3 Malaysia’s Economic Situation

1.4 Minimum Wage in Malaysia, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Malaysia

2 Overview of Malaysia Light Truck Industry

2.1 Industrial Policy and Foreign Investment Policy

2.2 Malaysia Light Truck Industry Operation 2018-2022

2.2.1 Status of Light Truck Production in Malaysia

2.2.2 Sales of Light Trucks in Malaysia

2.2.3 Import and Export of Light Trucks in Malaysia

2.2.4 Development of Electric Light Trucks in Malaysia

2.3 Malaysia Light Truck Policy Environment

2.3.1 Driver’s License Requirements

2.3.2 Licensing Fees

3 Import and Export Analysis of Light Trucks in Malaysia

3.1 Import Analysis

3.1.1 Import Overview

3.1.2 Main Import Sources

3.2 Export Analysis

3.2.1 Export Overview

3.2.2 Main Export Destinations

4 Market Competition in the Malaysian Light Truck Industry

4.1 Barriers to Entry in Malaysia’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in Malaysia

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in Malaysia

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5 Malaysia Major Light Truck Manufacturers Analysis

5.1 Daihatsu

5.1.1 Daihatsu Corporate Profile

5.1.2 Daihatsu’s Operations

5.2 Proton

5.2.1 Proton Corporate Profile

5.2.2 Proton Operations

5.3 Perodua

5.3.1 Perodua Corporate Profile

5.3.2 Perodua Operations

5.4 Hino

5.4.1 Hino Business Overview

5.4.2 Hino Operations

5.5 Mitsubishi

5.5.1 Mitsubishi Corporate Profile

5.5.2 Mitsubishi Operations

5.6 Toyota

5.6.1 Overview of Toyota Enterprises

5.6.2 Toyota Operations

5.7 Isuzu

5.7.1 Isuzu Corporate Profile

5.7.2 Isuzu’s Operations

5.8 Ford

5.8.1 Overview of Ford Enterprises

5.8.2 Ford Operations

6 Malaysia Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors for the Development of the Light Truck Industry in Malaysia

6.1.1 Drivers and Growth Opportunities for the Light Truck Industry in Malaysia

6.1.2 Threats and Challenges Facing the Light Truck Industry in Malaysia

6.2 Supply Forecast for Light Truck Industry in Malaysia

6.3 Light Truck Market Demand Forecast in Malaysia

6.4 Import and Export Forecasts for the Light Truck Industry in Malaysia

6.5 Revenue Forecast for Light Truck Industry in Malaysia

List of Charts

Chart Total Population of Malaysia, 2008-2022

Chart Malaysia’s GDP per Capita, 2013-2022

Chart Policies Related to Light Truck Industry Issued by Malaysian Government 2018-2022

Chart Light Truck Production in Malaysia 2018-2022

Chart Light Truck Sales in Malaysia 2018-2022

Chart Number of Road Freight Transportation in Malaysia 2018-2022

Chart Total Road Cargo Unloading in Malaysia, 2018-2022

Chart Number of Electric Light Trucks in Malaysia in 2022

Chart 2022 Malaysia Electric Light Truck Inputs by Region

Chart Import Volume and Import Value of Light Trucks in Malaysia 2018-2022

Chart 2018-2022 Malaysia Light Trucks Export Volume and Export Value

Chart 2023-2032 Light Truck Production Forecast in Malaysia

Chart Light Trucks Market Size Forecast in Malaysia, 2023-2032

Chart Light Truck Sales Forecast in Malaysia, 2023-2032

Chart Import and Export Forecast of Light Trucks in Malaysia, 2023-2032

The post Malaysia Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

In Indonesia, pickup trucks dominate the light truck market, constituting over 60% of the segment. These versatile vehicles are commonly employed for logistical transportation, particularly in areas with road size limitations or other traffic constraints. The majority of pickup trucks in the Indonesian market are imported from Thailand, with the Isuzu Panther being the sole domestically produced pickup truck model. The Isuzu Panther shares its platform with the Panther utility vehicle, although its sales have been declining in recent years.

Indonesia ranks as ASEAN’s second-largest producer of light vehicles after Thailand. The country’s Low-Cost Green Car (LCGC) program is gaining traction among global automakers, attracting investments from companies like Honda, Mercedes-Benz, and Mitsubishi. To meet production targets, the government aims to reduce LCGC prices, boosting sales and encouraging automakers to expand local production. Additionally, the Indonesian government plans to increase the local content of domestically assembled cars to more than 90%. Indonesia’s emergence as a production hub is tied to the fact that the capacity utilization rate of its plants is lower than that of its Thai counterparts. Capacity utilization at original equipment manufacturing (OEM) sites in Indonesia often falls below 60%, while the Thai average exceeds 65%. This advantage continues to drive the shift of manufacturing operations to Indonesia, given its skilled low-cost labor force.

Mitsubishi has signed a memorandum of understanding (MoU) with Gojek, Pos Indonesia, a local subsidiary of German logistics firm DHL, and Haleyola Power, a power company. Under this MoU, these companies will use Mitsubishi’s Minicab-MiEV for deliveries. Mitsubishi is currently the only major Japanese automaker producing light commercial electric vehicles. The company is bolstering its sales both domestically and internationally, with plans to introduce electric vehicles (EVs) to the Indonesian market in the future. In 2022, Mitsubishi began testing its commercial EVs for deliveries to Gojek and other local courier companies in Indonesia.

From 2018 to 2022, light truck sales in Indonesia exhibited a fluctuating trend, initially decreasing and then rebounding, with a Compound Annual Growth Rate (CAGR) of -0.88% during this period. The COVID-19 pandemic significantly impacted the market in 2020, causing a 36.09% decline in annual light truck sales to 271,000 units. Subsequently, as pandemic-related restrictions eased and the economy began to recover, both the market and supply chain gradually improved. In 2021 and 2022, Indonesia’s light truck sales witnessed significant growth, increasing by 52.71% and 9.45%, respectively, with annual sales reaching 414,000 units and 453,000 units.

Indonesia’s e-commerce sector has also experienced rapid expansion, and CRI forecasts the country’s e-commerce market to reach $53.8 billion by 2025. According to CRI’s analysis, the e-commerce market in Indonesia is anticipated to achieve robust growth of 23.8% in 2022, reaching USD 30 billion, as online shopping continues to gain traction. Additionally, Indonesia’s export trade surged in 2022, with exports totaling USD 291.98 billion for the year, marking a 26.07% year-on-year increase. With the burgeoning e-commerce and logistics markets in Indonesia, the demand for light trucks in the Indonesian market is steadily expanding.

CRI projects that light truck sales in Indonesia will reach 1.06 million units by 2032, growing at a Compound Annual Growth Rate (CAGR) of approximately 8.9% from 2023 to 2032.

Topics covered:

• Overview of the Light Truck Industry in Indonesia
• Economic and Policy Environment of Light Truck Industry in Indonesia
• What is the impact of COVID-19 on the light truck industry in Indonesia?
• Indonesia Light Truck Industry Market Size, 2023-2032
• Analysis of Major Indonesian Light Truck Industry Players
• Key Drivers and Market Opportunities in Indonesia’s Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in Indonesia during the forecast period 2023-2032?
• Which are the key players in the Indonesia Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Indonesia Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Indonesia light truck industry market is expected to dominate the market by 2032?
• What are the key unfavorable factors facing the Light Trucks industry in Indonesia?

Related Reports

• Malaysia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1 Overview of Indonesia

1.1 Geographical Situation

1.2 Indonesia’s Demographic Structure

1.3 Indonesia’s Economic Situation

1.4 Minimum Wage in Indonesia, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Indonesia

2 Overview of Indonesia Light Truck Industry

2.1 Industrial Policy and Foreign Investment Policy

2.2 Indonesia Light Truck Industry Operation 2018-2022

2.2.1 Status of Light Truck Production in Indonesia (Pickups, Vans, Minivans, etc.)

2.2.2 Sales of Light Trucks in Indonesia

2.2.3 Import and Export of Light Trucks in Indonesia

2.2.4 Development of Electric Light Trucks in Indonesia

2.3 Indonesia Light Truck Policy Environment

2.3.1 Driver’s License Requirements

2.3.2 Licensing Fees

3 Import and Export Analysis of Light Trucks in Indonesia

3.1 Import Analysis

3.1.1 Import Overview

3.1.2 Main Import Sources

3.2 Export Analysis

3.2.1 Export Overview

3.2.2 Main Export Destinations

4 Market Competition in Indonesia’s Light Truck Industry

4.1 Barriers to Entry in Indonesia’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of Light Truck Industry in Indonesia

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in Indonesia

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5 Indonesia Major Light Truck Manufacturers Analysis

5.1 Toyota

5.1.1 Overview of Toyota Enterprises

5.1.2 Toyota Operations

5.2 Mitsubishi

5.2.1 Mitsubishi Corporate Profile

5.2.2 Mitsubishi Operations

5.3 Isuzu

5.3.1 Isuzu Company Profile

5.3.2 Isuzu’s Operation Status

5.4 Daihatsu

5.4.1 Daihatsu Corporate Profile

5.4.2 Daihatsu’s Operations

5.5 Honda

5.5.1 Overview of Honda Enterprises

5.5.2 Honda Operations

5.6 Mercedes-Benz

5.6.1 Mercedes-Benz Corporate Profile

5.6.2 Mercedes-Benz Operations

6 Indonesia Light Truck Industry Outlook, 2023-2032

6.1 Analysis of the Factors Contributing to the Development of the Light Truck Industry in Indonesia

6.1.1 Drivers and Growth Opportunities of Light Truck Industry in Indonesia

6.1.2 Threats and Challenges Facing Light Truck Industry in Indonesia

6.2 Supply Forecast for Light Truck Industry in Indonesia

6.3 Indonesia Light Truck Market Demand Forecasts

6.4 Indonesia Light Truck Industry Import and Export Forecasts

6.5 Indonesia Light Truck Industry Revenue Forecasts

List of Charts

Chart Total Population of Indonesia, 2008-2022

Chart Indonesia’s GDP per Capita, 2013-2022

Chart Policies Related to Light Truck Industry Issued by Indonesian Government 2018-2022

Chart Light Truck Production in Indonesia 2018-2022

Chart Light Truck Sales in Indonesia 2018-2022

Chart Number of Road Freight Transportation in Indonesia 2018-2022

Chart Total Road Cargo Unloading in Indonesia, 2018-2022

Chart Number of Electric Light Trucks in Indonesia in 2022

Chart 2022 Indonesia Electric Light Duty Trucks Input Regions

Chart Import Volume and Import Value of Light Trucks in Indonesia 2018-2022

Chart 2018-2022 Indonesia Light Trucks Export Volume and Export Value

Chart 2023-2032 Light Truck Production Forecast in Indonesia

Chart Indonesia Light Trucks Market Size Forecast 2023-2032

Chart Light Truck Sales Forecast in Indonesia, 2023-2032

Chart Import and Export Forecast of Light Trucks in Indonesia, 2023-2032

The post Indonesia Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

Pickup trucks have had a significant impact on Thailand’s automotive industry and economy due to their sustainability, versatility, and low cost. in 2022, pickup trucks accounted for 45.7% of all vehicle sales in Thailand, with 388,296 pickup trucks sold. The Thai pickup truck market is dominated by two models – the Isuzu D-Max and the Toyota Hilux (banned in the US).

Together, these two models accounted for 83% of the market, with the Isuzu D-Max topping the list for the third consecutive year. With sales of 175,425 units in 2022, the D-Max model is the market leader with a 45.56% market share, while the Toyota Hilux is in second place with sales of 148,101 units in the same year and a 37.77% market share.

Many manufacturers (Ford, Isuzu, Mazda, Mitsubishi) have chosen to locate their global pickup truck manufacturing base in Thailand, building pickup trucks that are typically exported to Europe, Japan, and much of the rest of the world. These one-ton trucks are not exported to North America, where larger trucks are preferred.Thailand surpassed the U.S. as the world’s largest manufacturer of one-ton pickup trucks in 2005, and Thailand’s automotive industry is already a global hub for one-ton pickup truck exports. Thailand’s exports of one-ton pickup trucks account for about 40 percent of its total production.

Daihatsu Hijet, Toyota Pixis Van and Suzuki Every will collaborate on the launch of a new electric vehicle in the form of a minivan, a zero-emission commercial van based on the DNGA platform with a 660cc gasoline engine. Expected to debut as a concept vehicle at a special event during the Japan Automobile Manufacturers Association’s 2023 G7 Hiroshima Summit, the electric minivan is said to have a range of 200 kilometers (124 miles).

In 2019, Foton Motor Group and the Chengtai Group, signed a joint venture agreement. The two sides will jointly establish a joint venture company in Thailand, which will set up a sales company and a manufacturing company, respectively, and give full play to the advantages of the two sides in commercial vehicle technology and market operation capabilities, and strive to become the third largest commercial vehicle Thai car brand in Thailand.

As an international commercial vehicle enterprise leading China’s commercial vehicle industry for 14 consecutive years, Foton’s business scope covers a full range of commercial vehicles such as medium and heavy trucks, light trucks, vans, pickup trucks, buses, passenger cars. Buses, construction machinery vehicles, etc.

The joint venture will utilize Foton’s strengths in commercial vehicles, new energy vehicle products and manufacturing technology, Telematics technology and ZD Group’s strategic customer relationships, banking resources and social influence to operate Foton’s heavy trucks, medium trucks, light truck trucks trucks, buses and new energy vehicles.

Despite the volatility in the economy triggered by the Covid-19 outbreak, which posed challenges to parcel shipment volumes, especially from the e-commerce channel, the courier business in Thailand has continued to grow.The local courier market is worth 50 billion baht in 2021, which is about half of the overall logistics segment. According to CRI’s analysis, from 2017-2021, the Thai market’s express parcel volume showed a changing trend of year-on-year growth, with a five-year CAGR of 47.24%.

In 2017, Thailand handled only 320 million express parcels in the whole year, and by 2021, the volume of express parcels handled in the country has grown rapidly to 1.5 billion parcels, an increase of 32.74% year-on-year, which is more than quadruple the five-year increase, and the development has been very rapidly.

From 2019-2022, according to CRI analysis, Light Commercial Vehicle sales volume in Thailand shows a trend of decrease and then increase, with a CAGR of -2.08% from 2019-2022. Due to the impact of Covid-19, in 2020, the annual sales volume of Light Commercial Vehicles in Thailand decreases by 16.75% to 449,000 units, and in 2021, the annual sales volume of Light Commercial Vehicles in Thailand decreases by 2.74% to 436,000 units.

With the gradual liberalization of the embargo measures, the economy started to recover, and the market and supply chain gradually recovered, in 2022, Thailand’s light commercial vehicle market started to rebound, with an increase of 15.96% in the annual sales of light commercial vehicles, and the annual sales of light commercial vehicles amounted to 506,000 units, respectively.

With the growing e-commerce logistics market in Thailand, the continued rise in disposable income of the population, and the replacement of traditional fuel trucks by electric light trucks, CRI expects the light truck market in Thailand to continue to grow in the future, with sales volume reaching 693,000 units in 2032, and a compounded annual growth rate (CAGR) of 3.2% over the 2023-2032 period.

Topics covered:

• Overview of the Light Truck Industry in Thailand
• Economic and Policy Environment of Light Truck Industry in Thailand
• What is the impact of COVID-19 on the light truck industry in Thailand?
• Thailand Light Truck Industry Market Size, 2023-2032
• Analysis of Major Thai Light Truck Industry Players
• Key Drivers and Market Opportunities in Thailand’s Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in Thailand during the forecast period 2023-2032?
• Which are the key players in Thailand Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Thailand Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Thailand Light Truck Industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the Light Trucks industry in Thailand?

Related reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1. Thailand Overview

1.1 Geographical Situation

1.2 Thailand’s Demographic Structure

1.3 Thailand’s Economic Situation

1.4 Minimum Wage in Thailand, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Thailand

2. Thailand Light Truck Industry Operation 2018-2022

2.1 Status of Light Truck Production in Thailand (Pickups, Vans, Minivans, etc.)

2.2 Sales of Light Trucks in Thailand

2.3 Thailand’s Import and Export of Light Trucks

2.4 Development of Electric Light Trucks in Thailand

3. Thailand’s Light Truck Policy Environment:

3.1 Driver’s License Requirements (Are They Different from Passenger Cars)

3.2 Licensing Fees

4. Market Competition in Thailand’s Light Truck Industry

4.1 Entry Barriers for Thailand’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in Thailand

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in Thailand’s Light Truck Industry

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Thailand Major Light Truck Manufacturers Analysis

5.1 Daihatsu

5.1.1 Daihatsu Corporate Profile

5.1.2 Daihatsu’s Operations

5.2 Ford

5.2.1 Overview of Ford Enterprises

5.2.2 Ford Operations

5.3 Isuzu

5.3.1 Isuzu Company Profile

5.3.2 Isuzu’s Operations

5.4 Mazda

5.4.1 Mazda Corporate Profile

5.4.2 Mazda Operations

5.5 Mitsubishi

5.5.1 Mitsubishi Corporate Profile

5.5.2 Mitsubishi Operations

5.6 Chevrolet

5.6.1 Chevrolet Corporate Profile

5.6.2 Chevrolet Operations

5.7 Foton

5.7.1 Foton Corporate Profile

5.7.2 Foton Operations

5.8 Nissan

5.8.1 Nissan Corporate Profile

5.8.2 Nissan Operations

5.9 Toyota

5.9.1 Overview of Toyota Enterprises

5.9.2 Toyota Operations

6. Thailand Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors Contributing to the Development of the Light Truck Industry in Thailand

6.1.1 Drivers and Development Opportunities for the Light Truck Industry in Thailand

6.1.2 Threats and Challenges Facing the Light Truck Industry in Thailand

6.2 Supply Forecast for Thailand Light Truck Industry

6.3 Demand Forecast for Thailand Light Truck Market

6.4 Import and Export Forecasts for Thailand’s Light Truck Industry

6.5 Thailand Light Truck Industry Revenue Forecasts

The post Thailand Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

In 2021, the Philippine Department of Trade and Industry (DTI) enacted a law on automobile import safeguards to protect the domestic automobile business. DTI Secretary Ramon Lopez announced that the country would begin imposing a tariff of PHP 70,000 (US$ 1,460) on passenger cars and PHP 110,000 (US$ 2,262) on light commercial vehicles.

Cars from Thailand, the United States, Japan and Europe are also subject to this rule. Cars from some countries, such as the People’s Republic of China, South Korea, Malaysia, and some Indonesia, are exempted from this rule.On August 6, 2021, the safeguard duty on imported cars was suspended. The DTI’s decision to lift the safeguard restriction on imported cars will go a long way in helping the industry recover, as imported cars account for the vast majority of cars sold in the Philippines.

Sales continued to rebound following the lifting of the embargo and the gradual increase in mobility in the Philippines. In addition, automobile sales have recovered from the impact of the country’s increased automobile taxes. According to CRI’s analysis, the Philippine automotive industry saw a 31.3% increase in sales in 2022, with a total of approximately 350,000 units sold. The highest growth rates were recorded for light commercial vehicles and Asian utility vehicles (AUVs). By 2023, total automobile sales in the Philippines are expected to increase to 400,000 units.

From 2018-2022, according to CRI analysis, annual sales of light trucks in the Philippines show a trend of decreasing and then increasing, with a CAGR of -4.3% from 2018-2022. Affected by Covid-19, the Philippine light truck market suffered a setback in 2020 with a sharp decline of 40.5% to 90,000 units. With the gradual contact of the embargo, the economy is starting to recover. annual sales of light trucks in the Philippines in 2022 will be around 130,000 units, a 25.3% increase year-on-year.

The e-commerce market in the Philippines is in a fast-growing development phase with the rising number of mobile smartphone users and the gradual formation of online shopping spending habits among consumers, boosting the logistics industry and leading to a rising demand for light trucks in the Philippine market. Investors from China and Japan, among others, have committed to establish or expand existing logistics facilities in Southern Luzon, Philippines; the rise of e-commerce (73.9 million users by 2021) along with the popularity of the internet has increased the demand for industrial freight warehouses in the country.

As an archipelagic and import-oriented country that is highly dependent on the sea, light trucks are widely used in ports and airports in the Philippines. With the government’s rapid improvement in logistics infrastructure and the growing e-commerce market, the Philippines’ logistics industry and the market for small package delivery services have plenty of room for future growth, and the demand for light trucks will continue to grow.

CRI expects the sales volume of Philippines’ light trucks to reach 286,000 units in 2032 and the CAGR is 8.2% from 2023 to 2032. The Philippines has been a leader in the development of light trucks since the 1970s, and the country has been a leader in the development of light trucks since the 1980s.

Topics covered:

• Overview of the Light Truck Industry in the Philippines
• Economic and Policy Environment of the Light Truck Industry in the Philippines
• What is the impact of COVID-19 on the light truck industry in the Philippines?
• Philippines Light Truck Industry Market Size, 2023-2032
• Analysis of Major Philippine Light Truck Industry Players
• Key Drivers and Market Opportunities in the Philippines Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in the Philippines during the forecast period 2023-2032?
• Which are the key players in the Philippines Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of the Philippines Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Philippines light truck industry market is expected to dominate the market by 2032?
• What are the key unfavorable factors facing the Light Trucks industry in the Philippines?

Related Reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1. Overview of the Philippines

1.1 Geographical Situation

1.2 Demographic Structure of the Philippines

1.3 Economic Situation in the Philippines

1.4 Philippine Minimum Wage 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in the Philippines

2. Operation of the Light Truck Industry in the Philippines 2018-2022

2.1 Status of Light Truck Production in the Philippines (Pickups, Vans, Minivans, etc.)

2.2 Light Truck Sales in the Philippines

2.3 Import and Export of Light Trucks in the Philippines

2.4 Development of Electric Light Trucks in the Philippines

3. Light Truck Policy Environment in the Philippines:

3.1 Driver’s License Requirements (Are They Different from Passenger Cars)

3.2 Licensing Fees

4. Market Competition in the Philippine Light Truck Industry

4.1 Barriers to Entry in the Philippine Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in the Philippines

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in the Philippines

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Analysis of Major Light Truck Manufacturers in the Philippines

5.1 Ford

5.1.1 Overview of Ford Enterprises

5.1.2 Ford Operations

5.2 Toyota

5.2.1 Overview of Toyota Enterprises

5.2.2 Toyota Operations

5.3 Nissan

5.3.1 Nissan Corporate Profile

5.3.2 Nissan Operations

5.4 Mitsubishi

5.4.1 Mitsubishi Corporate Profile

5.4.2 Mitsubishi Operations

5.5 Mazda

5.5.1 Mazda Corporate Profile

5.5.2 Mazda’s Operations

5.6 Isuzu

5.6.1 Isuzu Company Profile

5.6.2 Isuzu’s Operations

5.7 HMP

5.7.1 HMP Business Overview

5.7.2 HMP Operations

6. Philippines Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors for the Development of the Light Truck Industry in the Philippines

6.1.1 Drivers and Growth Opportunities for the Light Truck Industry in the Philippines

6.1.2 Threats and Challenges Facing the Light Truck Industry in the Philippines

6.2 Supply Forecast for Light Truck Industry in the Philippines

6.3 Light Truck Market Demand Forecast in the Philippines

6.4 Import and Export Forecasts for the Light Truck Industry in the Philippines

6.5 Revenue Forecasts for the Light Truck Industry in the Philippines

The post Philippines Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

In Vietnam’s automobile market, light trucks are best sellers due to their versatility and low price and registration fees. For example, pickup trucks can be used as sedans for daily use and traveling weekends for families, as well as for commercial purposes.

According to CRI’s analysis, Vietnam’s light truck market has products from several companies on sale, such as Ford Ranger, Mazda BT-50, Mitsubishi Triton, Nissan NP300 Navara, Chevrolet Colorado, Isuzu D-Max, and Toyota Hilux, as well as brands from China, such as Jiangling Motors.

For manufacturing light trucks, original equipment manufacturers (OEMs) usually prefer complete knock-down (CKD) imports, where they import parts and then assemble the vehicle in Vietnam. However, for heavy-duty trucks, OEMs prefer to import fully assembled (CBU) units – importing the entire truck as a complete unit. These import preferences stem from low CKD tariffs for light trucks and low CBU tariffs for heavy trucks. Import activity is dominated by the heavy-duty truck segment, with a significant share in the small truck segment.

With the implementation of Order No. 20 of April 2019, the registration fees for light trucks and vans were officially increased to three times the original level. According to this regulation, light trucks with 5 seats and less pay 60% of the first registration fee for cars with 9 seats and less, instead of 2%. At this rate, the light truck registration fee increases to 6-7.2% in 2019. Of this, 7.2% is applied in Hanoi, where the automobile market has changed significantly.

Vietnam’s light truck market continues to show resilience, and in 2021, TCMV is launching three new models in the Vietnamese market, including two trucks and a van, in partnership with SGMW, a joint venture between three companies, namely SAIC, General Motors China, and Liuzhou Wuling Motors; TCMV is a subsidiary of TCMH (Tan Chong Motors Holdings Berhad) – one of the pioneers in the Malaysian automotive industry.

Vietnam’s courier, express and parcel (CEP) services market was valued at US$ 710 million in 2021, and the market size for courier services in Vietnam reached US$ 900 million in 2022, and is expected to exceed the US$4.9 billion mark by 2030. According to CRI’s analysis, the demand for light trucks in Vietnam’s courier market will continue to rise.

As we enter 2022, Vietnam’s economy is gradually recovering from the epidemic and supply chain bottlenecks have eased in recent months, helping automakers improve their supply to the market. The explosion of online shopping in Vietnam in recent years has led to increased demand for new warehouses to be built and placed in various locations; logistics services and short-distance delivery will have huge growth potential in the near future. CRI expects demand for light trucks in the Vietnamese market to continue to rise.

The annual sales volume of light trucks in Vietnam in 2022 was about 50,000 units. CRI expects the demand for light trucks in the logistics industry to rise with the high growth of the electric vehicle market in Vietnam, the expanding e-commerce market. As well as the rising disposable income of the population and the rising intention of householders to acquire pickup trucks, CRI expects the light truck industry in Vietnam to maintain growth in the future. CRI expects light truck sales in Vietnam to reach 200,300 units in 2032, growing at a compound annual growth rate (CAGR) of 13.8% over the 2023-2032 period.

For light truck manufacturers, the Vietnamese market will become one of the highest growth markets in the world in the next 10 years, in which there are many market opportunities.

Topics covered:

• Overview of the Light Truck Industry in Vietnam
• Economic and Policy Environment of Light Truck Industry in Vietnam
• What is the impact of COVID-19 on the light truck industry in Vietnam?
• Vietnam Light Truck Industry Market Size, 2023-2032
• Analysis of major Vietnamese light truck industry players
• Key Drivers and Market Opportunities in Vietnam’s Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in Vietnam during the forecast period 2023-2032?
• Which are the key players in Vietnam Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Vietnam Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Vietnam light truck industry market is expected to dominate the market by 2032?
• What are the key unfavorable factors facing the light truck industry in Vietnam?

Related Reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032

Table of Contents

1. Overview of Vietnam

1.1 Geographical Situation

1.2 Demographic Structure of Vietnam

1.3 Economic Situation in Vietnam

1.4 Minimum Wage in Vietnam, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Vietnam

2. Overview of the Light Truck Industry in Vietnam

2.1 Operation of the Light Truck Industry in Vietnam, 2018-2022

2.1.1 Status of Light Truck Production in Vietnam (Light Trucks, Vans, Minivans, etc.)

2.1.2 Sales of Light Trucks in Vietnam

2.1.3 Import and Export of Light Trucks in Vietnam

2.1.4 Development of Electric Light Trucks in Vietnam

2.2 Vietnam Light Truck Policy Environment

2.2.1 Driver’s License Requirements (Are They Different from Passenger Cars)

2.2.2 Licensing Fees

3. Vietnam Light Truck Market Key Distributors Analysis

3.1 Enterprise 1

3.2 Enterprise 2

3.3 Enterprise 3

3.4 Enterprise 4

3.5 Enterprise 5

4. Market Competition in Vietnam’s Light Truck Industry

4.1 Entry Barriers for Vietnam’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in Vietnam

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in Vietnam

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Analysis of Major Light Truck Manufacturers in Vietnam

5.1 Ford

5.1.1 Overview of Ford Enterprises

5.1.2 Ford Operations

5.2 Toyota

5.2.1 Overview of Toyota Enterprises

5.2.2 Toyota Operations

5.3 Isuzu

5.3.1 Isuzu Company Profile

5.3.2 Isuzu’s Operations

5.4 Kia

5.4.1 Kia Corporate Profile

5.4.2 Kia Operations

5.5 Peugeot

5.5.1 Peugeot Corporate Profile

5.5.2 Peugeot Operations

5.6 Mazda

5.6.1 Mazda Corporate Profile

5.6.2 Mazda Operations

5.7 Hyundai

5.7.1 Hyundai Corporate Profile

5.7.2 Hyundai’s Operations

5.8 BMW-Mini

5.8.1 BMW-Mini Corporate Profile

5.8.2 BMW-Mini Operation Status

5.9 VinFast

5.9.1 VinFast Corporate Profile

5.9.2 VinFast Operations

5.10 Thaco

5.10.1 Thaco Corporate Profile

5.10.2 Thaco Operations

6. Vietnam Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors Contributing to the Development of the Light Truck Industry in Vietnam

6.1.1 Drivers and Development Opportunities for the Light Truck Industry in Vietnam

6.1.2 Threats and Challenges Facing the Light Truck Industry in Vietnam

6.2 Supply Forecast for Vietnam Light Truck Industry

6.3 Demand Forecast for Vietnam Light Truck Market

6.4 Import and Export Forecast for Vietnam’s Light Truck Industry

6.5 Revenue Forecast for the Light Truck Industry in Vietnam

The post Vietnam Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.