Toyota solidified its position as the leading car brand in Southeast Asia in 2024, selling over 923,000 vehicles, while VinFast made an impressive breakthrough in Vietnam with electric cars.

Despite a 5.4% decrease compared to 2023, the region saw a total of 3.28 million new cars sold, with Japanese and Malaysian domestic brands maintaining strong dominance.

Toyota: Unrivaled leader in the region

Toyota secured the top spot with over 923,000 cars sold, leaving its competitors far behind with a gap of more than 560,000 units.

Its largest market was Indonesia, where it sold 288,892 vehicles, accounting for 31% of the brand’s total sales in the region.

This success was attributed to a diverse product lineup ranging from sedans and SUVs to pickups, catering to various customer segments.

In Vietnam, Toyota ranked third after VinFast and Hyundai, selling 66,576 vehicles, which made up 7.2% of the region’s total.

Toyota’s consistent popularity in the internal combustion engine segment demonstrates its long-standing appeal among Vietnamese consumers.

Malaysia’s domestic brands: Perodua and Proton

Perodua, Malaysia’s top domestic brand, claimed the second position with over 358,000 units sold, despite being limited to the domestic market. Its success was driven by competitive pricing, government support, and continuously improved quality.

Another Malaysian brand, Proton, secured the seventh position with more than 147,000 cars sold, showcasing the growing strength of the local automotive industry.

Japanese brands: A lasting legacy

The third to sixth positions were occupied by Japanese automakers: Honda, Suzuki, Mitsubishi, and Daihatsu. Notably, Daihatsu, a Toyota subsidiary, sold more than 163,000 vehicles exclusively in Indonesia, leveraging the vast market size.

In Vietnam, Toyota models such as the Raize, Yaris Cross, and Veloz are built on Daihatsu platforms, demonstrating the synergy between the two brands.

South Korean brands: Hyundai and Kia

Hyundai ranked eighth with 108,293 units sold, including 67,168 cars from Vietnam alone, making up 62% of its regional sales. Kia ranked 14th with over 52,000 units sold, of which 34,570 (66%) were sold in Vietnam.

This highlights Vietnam as a lucrative market for South Korean brands, driven by modern designs, advanced technology, and affordable prices.

VinFast: A rising Vietnamese contender

VinFast, the only Vietnamese brand in the top 15, secured the 11th position with over 87,000 cars sold domestically.

Remarkably, all VinFast cars sold were fully electric, reflecting the increasing consumer interest in environmentally friendly vehicles.

The brand’s success can be attributed to generous incentives, rapid charging infrastructure development, and government support for green mobility.

Key trends shaping Southeast Asia’s auto market

The 2024 rankings reflect two major automotive trends:

Japanese dominance remains strong, driven by durable, fuel-efficient cars with long-lasting value.

Rapid shift towards electric vehicles (EVs), as evidenced by VinFast’s remarkable performance and growing consumer preference for sustainable transportation.

Looking ahead, the transition to EVs is expected to accelerate as both automakers and governments promote green mobility. Meanwhile, Japanese and South Korean brands are likely to continue technological improvements to maintain their competitive edge in this promising market.

DDDN