ASEAN Motorcycles Industry reported the deepest lost in the last 70 years. Sales were 10.8 million, losing near 4.5 million from the previous year. Three countries really collapsed, Indonesia, Singapore and Philippines, but even Thailand, Vietnam and Malaysia lost volumes.
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 in this article aggregate these markets and do not include Myanmar, Laos and Brunei.
ASENA Motorcycles Industry collapsed in 2020
Following a series of growing years, ASEAN region, one of the largest in the motorcycles industry, sharply declined in 2020, reaching the lowest level out of last 15 years.
Although all the countries in the region have approached the covid19 crisis with effective actions taking almost under control the virus spread, the fall of the global economy hit severely the export of the region and the tourism, the two key industries for all the countries in the region.
The economies struggled with most difficulties in the second than in the first part of the year. The bad economy reduced the demand for consumers goods and the motorcycles industry, the primary individual sector in the region, lost million sales.
Thus, after having lost in the first half 2020 near one third of the sales, differently from all the rest of the World, in the second half the ASEAN motorcycles market has not recovered, mainly due to the fall of two very large markets, Indonesia and The Philippines.
Full year sales have been 10.85 million, down a deep 28.9%.