Toyota Remains Top Car Brand in Southeast Asia in 2024, With Nearly 1 Million Units Sold
Toyota remains the most popular automotive brand in Southeast Asia in 2024, delivering nearly 1 million vehicles to customers in the region. The market also witnessed the rise of domestic brands such as Perodua in Malaysia and VinFast in Vietnam.
According to a report by PwC’s premium automotive institute, a total of 3.28 million new vehicles were sold in Southeast Asia in 2024, a 5.4% decrease from 2023. Despite the sales decline, the market continues to showcase the dominance of Japanese brands, along with a strong shift towards electric vehicles, highlighted by the performance of domestic manufacturers.
Toyota maintained its leading position with sales of over 923,000 vehicles, outpacing its closest competitor by 560,000 units. Indonesia was Toyota’s largest market, contributing 288,892 vehicles (31% of regional sales). In Vietnam, Toyota sold 66,576 units, ranking third behind VinFast and Hyundai, according to data from VAMA, Hyundai Thanh Cong, and VinFast. Toyota’s success stems from its diverse product portfolio, ranging from sedans and SUVs to pickup trucks, catering to multiple segments.
Other Japanese brands such as Honda, Suzuki, Mitsubishi, and Daihatsu also made it to the top 6, underscoring their long-standing reputation for reliability, fuel efficiency, and value. Notably, Daihatsu – a subsidiary of Toyota – sold 163,000 units in Indonesia while also supporting the development of several Toyota models in Vietnam, including the Raize and Veloz.
Perodua, Malaysia’s leading domestic brand, secured second place in the region with over 358,000 units sold domestically. Competitive pricing, improved quality, and government support enabled Perodua to surpass many international rivals. Another Malaysian brand, Proton, ranked seventh with over 147,000 vehicles, reinforcing the strength of the country’s domestic automotive industry.
Hyundai and Kia, the two representatives from South Korea, ranked 8th and 14th, respectively. Hyundai sold 108,293 vehicles, with Vietnam contributing 67,168 units (62%). Kia delivered more than 52,000 vehicles, of which 34,570 (66%) were sold in Vietnam. Modern design, advanced technology, and reasonable pricing have made South Korean vehicles a dominant force in the lucrative Vietnamese market.
VinFast made a remarkable entry into the top 11, selling over 87,000 electric vehicles in Vietnam and outperforming Toyota, Hyundai, and Kia to become the market leader in the country. This is the first time a Vietnamese brand has made such a significant impact in the region, thanks to its strategy of offering incentives, developing an extensive charging network, and benefiting from the government’s support for green vehicles. VinFast’s breakthrough marks a turning point in the electric vehicle consumption trend in Southeast Asia.
Thai Son (Tuoitrethudo)
