Southeast Asia auto sales hit three-year high
Philippines, Thailand lead resurgent market
After a prolonged slump, Southeast Asia’s auto market is continuing a recovery that started last year, reports Nikkei Asian Review. The recovery is huge for Japanese automakers who dominate the region with 80% market share.
Sales in six major Southeast Asian countries grew 5% on the year for the first six months of the year. 2016 saw sales in the region grow for the first time in three years, with sales totaling 3.2 million vehicles, and Toyota Thailand President Michinobu Sugata expects this year to beat that number with 3.3.