ASEAN. In October regional sales up 5%, but 2020 is reporting a record fall

5827
Asean Motorcycles
2008-FAT-BOY-CVO-CUSTOM

ASEAN Motorcycles Industry in 2020 is reporting the deepest lost in the last 70 years. Following the third quarter 21.6% lost, finally in October sales have been up, with 1.4 million sales (+5.3%). In the first ten months sales at 9.5 million (-25.7%) lost 3.2 million from the correspondent period last year.

The Association of South Asian Nations is an economic region including countries fast growing under several indicator (populations, economy, development, social conditions and others) and actually represents one of the most interesting World economic region. Actually we have data on new motorcycles and scooter/moped sales for the following countries: Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore and Cambodia. The numbers reported aggregate these market and do not include Myanmar, Laos and Brunei.

2020 Sales are collapsing

Unfortunately, the 2020 is really awful for the region, hit by the covid 19 effects, although all countries have taken maximum precautions to minimize the virus spread.

Following a positive start of the year, during March the environment evolved in negative and the new motorcycles demand was hit by shutdowns decided by government, involving both plants and distributors, with the first quarter sales at 3.42 million , down 8.3%.

However, the second quarter was really heavy, with Indonesia and Philippines losing in large scale, with only 1.4 million regional sales (-59.5%) and with the first half 2020 ended at 4.83 million (-33.3%).

Against expectations, the trend was still very negative in the third quarter, mainly due to the fall of two very large markets, Indonesia and  The Philippines

In the third quarter the region sales fell down 21.6% and only in October there was a first shy positive month, with 1.4 million sales (+5.3%).

In the first ten months of the year sales have been 9.5 million (-25.7%) losing 3.2 million units from the correspondent period last year.

Indonesia has lost a huge 34.9% year to date 2020, The Philippines are down 28.1%, Thailand lost 10.7%, Vietnam 15.8%, Malaysia 15.92%, Cambodia 19.2% and the smaller country, Singapore, the 38.6%.

Motorcycles Market Trend

Probably in no other industry, the ASEAN region is so relevant in the global chessboard like in the motorcycles.

In the 2019, this region represented the 23.6% of the global motorcycles sales including four out of top sixth largest markets.

In the 2019 the region scored the fourth increase in a row ending at the second highest sales level ever, not far from the 2013 record all time record, with 13.75 million units.

Looking at the single country performance, Thailand  scored a step back from 2018, losing 3.3% and Vietnam, which is the second market in ASEAN and the fourth in the World, lost 3.7% from the all time record established in the previous year.

Indonesia, the largest country in the region and the third in the World, reported 6.5 million sales, up 1.3% from the previous year, while it is still far from the 8 million units of record volume established few years ago.

It is really impressive the Philippines track, with the 8th consecutive all time record established in the 2019, while the smaller country, Malaysia was the fastest growing, with 15.9%. Even Singapore is fast growing, with 2019 sales at the record of 16.858 units.