Market Chatter: BYD Challenges Japanese Automakers in Southeast Asia, Says Auto Research Company

MT Newswires Live
07/03

Japanese car manufacturers are facing significant pressure in the Southeast Asian market as Chinese electric vehicle (EV) giant BYD (HKG:1211) rapidly expands its presence, Nikkei Asia reported Thursday, citing data from Tokyo-based automotive research company MarkLines.

Once dominant, Japanese brands are now seeing their long-held market share eroded, with BYD's sales in key countries like Indonesia, Malaysia, the Philippines, and Thailand starting to rival established players such as Honda Motor and Mitsubishi Motors, said the publication.

While Toyota Motor still maintains its lead in unit sales, other Japanese automakers including Mazda Motor and Nissan Motor are feeling the intensified competition from the aggressive push of Chinese EV makers it added.

In April, BYD sold 11,404 vehicles across four Southeast Asian nations - surpassing the 10,000-unit milestone for the second consecutive month since first achieving it in March, added the publication.

Honda sold 14,433 units and Mitsubishi Motors moving 12,827 during the same period, said the report.

The Chinese EV maker is making particularly strong inroads in Indonesia and Thailand, two of the region's largest auto markets. In Indonesia, BYD's April sales of 4,307 vehicles dwarfed Honda's 3,000 units, it added.

In Thailand, BYD sold 6,338 vehicles - nearly triple Mitsubishi's 2,185 units and approaching Honda's 6,785 sales, said the news daily.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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