Asean Vehicle Market in 2025 is contracting. Full-year sales dropped by 2.3%, with Indonesia and Thailand stumbling while Vietnam continues to expand steadily backed by the impressive performance of Vinfast.
Economic Environment
ASEAN’s macroeconomic outlook for 2025 is projected at 4.5% GDP growth (with inflation around 2.4%), reflecting a generally resilient expansion across the subregion. The stronger 2025 growth view is underpinned by better-than-expected performance in Q3 in several key economies and a backdrop of steady activity elsewhere, with momentum supported by resurgent exports and pockets of sectoral strength.
At the same time, the region’s performance remains uneven across countries, shaped by differing mixes of global and domestic drivers: some economies are benefiting more from external demand, while others face headwinds from high household debt, slowing investment, and infrastructure bottlenecks. On prices, stable energy and food conditions, softer demand in some markets, and timely policy actions are helping keep inflation contained and broadly within targets, though risks persist from global uncertainty, climate-related disruptions, and currency volatility, making continued policy agility and targeted support important to sustaining growth through the year.
Automotive Industry Trend and Outlook
The last months of 2025 suggest a downward trend for the ASEAN vehicle market, fluctuating around the -3% treshold between Q3 and Q4. Overall, about 3,16 million units were sold, with a 2.3% loss compared to 2024 figures.
The leader Malaysia reported gains of 2% with a 26% share, followed in 2nd by Indonesia with a 22.8% share (-8.7%). Thailand ranked in 3rd reporting the sharpest losses at -15.6%, but with a share of 18.2%. The Philippines followed in 4th while gaining 3.6%. Vietnam closed the top 5, with an impressive growth of 24.1%.
EV Market Trend and Outlook
ASEAN’s EV share grows consistently, now rivaling those of other legacy markets. Growing 116.8% and securing 11.9% of total sales, continued investment in charging infrastructure will be key to continue this uptake.
VinFast remains at the forefront of EV adoption in the region, with a 40% share on the total and a 201.7% growth. Thailand fell into 2nd, still reporting major gains of 45.3% while Indonesia closed the podium, up by 118.6% and with a 20.5% share.
Medium-Term Market Trend
The ASEAN vehicle market is the world’s 5th-largest sub-regional market, spanning 10 countries but shaped mainly by the biggest contributors, Indonesia, Thailand, Malaysia, the Philippines, and Vietnam. Over the past decade, annual sales climbed from 2.5 million units in 2010 to a record 3.5 million in 2013, then hovered around the 3.0 million level through 2019.
The pandemic dealt a sharp blow in 2020, when registrations fell 24.4% and volumes slipped back to roughly 2.5 million. Since then, the market has rebounded strongly, posting double-digit growth in both 2021 and 2022 to return to the 3.3 million range. More recently, the recovery has held: the region recorded 3.35 million units in 2023 and 3.2 million units in 2024. Within this broader market, EV adoption started slowly, but picked up noticeably in 2023 and continued gaining momentum in 2024.
Tables with sales figures
In the tables below we report sales for the top 10 countries.
