ASEAN auto sales up, but outlook dim

ASEAN auto sales up, but outlook dim

SINGAPORE (AFP): Motor vehicle sales in the four biggest Southeast Asian markets climbed 7 percent from a year ago to 577,671 units in the first seven months of 2001, an industry report said.

However regional sales are forecast to fall on waning consumer confidence particularly in the Philippines and Indonesia, Automotive Resources Asia Ltd. (ARA) said in a report Tuesday.

The report covers Indonesia, Malaysia, the Philippines and Thailand, the four biggest markets in the 10-member Association of Southeast Asian Nations (ASEAN).

Sales in Thailand rose 14 percent to 162,985 units from 142,586 units last year.

A total 216,940 vehicles were sold in Malaysia, up 11 percent from 194,847 a year ago.

Vehicle sales in Indonesia were up just 0.1 percent to 155,142 units from 154,987 last year.

The Philippines saw sales drop 14 percent to 42,604 units from 49,302 vehicles.

"We expect vehicle sales in ASEAN's big four markets to decline as consumers' confidence continues to fall," said May Arthapan, an associate at ARA.

"Our concerns lie in such vulnerable markets as Indonesia and the Philippines, in which sales have already been weakened by internal political and social problems," she said.

Malaysia's Proton remains the leader with a 20 percent share of the market, followed by Toyota with 16 percent and Mitsubishi with 11 percent.