Brunei 2014. Vehicles Market slow down

Brunei Vehicles Market

Brunei Vehicles Market slow down in the 2014 hit by weak domestic demand. The market is led by the Japanese Toyota followed by Kia and Nissan.  The best-selling model was the Toyota Vios.

In 2014 according to with data released by Brunei Automobile Traders Association (BATA), the new Car Passengers sold have been 18.131, down 2.8% compared with the 2013.

Crude oil and natural gas production account for 60% of GDP and more than 90% of exports, making Brunei the fourth-largest producer of oil in Southeast Asia and the ninth-largest exporter of natural gas in the World.

In 2013 the per capita revenue (PPP) was $ 54.800, one of the highest in Asia (12th in the World), and substantial income from overseas investment supplements income from domestic production.

However, declining oil price in the international market is reducing the national GDP with some impact on the car sector.

No news on top of the market with Toyota stable as leader with 3.441 sales (-11.2% from 2013) with market share at 18.8%, followed by the Koreans rival, with Kia second with 2.220 sales (-10.6%) and 12.1% of market share. Nissan was third with 1.368 units (+26.9%) with share up to 7.5%.