▍Indonesia: BYD Joins Automotive Industry Association, Emphasizing Sales, Service Network, and Brand Image Building

Officials from the Indonesian Automotive Industry Association (GAIKINDO) recently confirmed that BYD Auto Indonesia has officially become a member of GAIKINDO. Starting in July 2024, BYD will report sales data to GAIKINDO.

Automotive experts from Bandung Institute of Technology (ITB) believe that Chinese brand cars with advanced technology and competitive prices have the potential to dominate the Indonesian automotive market in the future. However, as relatively new participants, Chinese automotive brands still need to establish sales and service networks and strengthen their brand image in the Indonesian automotive market. "Other factors such as quality, features, brand image, and after-sales networks also play important roles."

▍Vietnam: Chinese Brands Flooding In, With Good Growth Prospects

Vietnamese automotive experts say that with the entry of brands like Aumonda, Jaecoo, BYD, Haval, and Lynk & Co. into Vietnam, the Vietnamese automotive market is undergoing significant changes. The aggressive expansion of Chinese brands contrasts sharply with the cautious attitudes of many traditional international brands.

Chinese brands offer a diverse product lineup of gasoline-powered vehicles, plug-in hybrid electric vehicles, and pure electric vehicles, aiming to cater to various market segments in Vietnam while targeting young Vietnamese consumers, who are often early adopters of new technologies, including electric vehicles.

Industry experts believe that Vietnamese consumers often choose Chinese brands for their second car, indicating that Vietnamese consumers are becoming increasingly familiar with and accepting Chinese cars. This trend suggests that Chinese brands have good market penetration and growth prospects in Vietnam.

▍Thailand: Insurance Companies Raise Premiums for Pure Electric Vehicles, GAC Aion Leads B-Segment Electric SUV Sales in May

Tokio Marine Safety Insurance, a Thai insurance company, recently announced that it will increase premiums for pure electric vehicles starting July 1 due to changes in the prices of new and used pure electric vehicles, as well as the generally higher maintenance costs of pure electric vehicles. Existing insurance policies will continue to be covered, and when renewing insurance, the new premiums will apply.

The Thai General Insurance Association stated that the significant price fluctuations of pure electric vehicles and the generally higher claim amounts will affect the premiums for pure electric vehicles and the profitability of insurance companies. Currently, two insurance companies in Thailand have "refused to insure" pure electric vehicles.

According to statistics, in May, a total of 1,202 electric vehicles were sold in the B-segment electric SUV/Crossover market. The top three spots on the sales chart were all taken by Chinese brands. GAC Aion Y Plus led the way with 301 sales and a market share of 54.8%. Second place went to BYD Atto 3 with 217 sales and a market share of 39.5%. MG ZS EV took third place with 31 sales and a market share of 5.6%.

▍Malaysia: Cumulative Production and Sales of New Vehicles Increased Year-on-Year from January to May, Proton Launches EV Sub-Brand

According to data released by the Malaysian Automotive Association (MAA), the cumulative production of new vehicles from January to May was 341,500 units, an increase of 12% year-on-year, and the cumulative sales of new vehicles were 328,901 units, an increase of 8% compared to the same period last year.

In June, Malaysian national brand Proton sold 10,999 vehicles, with cumulative sales of 73,696 vehicles for the year. The company also reached the milestone of producing 5 million vehicles this month and announced the launch of a new EV sub-brand, Proton e.MAS. The first pure electric vehicle is expected to debut in the fourth quarter of 2024, and the new brand will be fully managed by Proton's subsidiary, Pro-Net.

Edited by Yang Shuo

Typesetting by Zheng Li

Source: Ggaikindo.or.id, Paultan.org, Autobuzz.my

Image Source: QianTu.com