New-car sales in Southeast Asia’s six major markets climbed 5% on the year to 281,366 vehicles in May, about the same rate as in April, but poor growth in Thailand leaves automakers cautious.
Thailand experienced four straight months of double-digit growth through April but achieved only a 1% gain to 66,422 units in May.
Sales fell for pickup trucks, which account for about half of the country’s new-car market. Sales of passenger cars edged up just 4% in May after 23% growth the prior month.
Thai sales were brisk to kick off the year, aided by consumers willing to reopen their wallets after adjusting to a carbon-based excise tax for new vehicles introduced in January 2016. Some think that May’s deceleration is just temporary, but all automakers will be watching how sales progress.
Indonesia, the region’s largest market, has been stable. Sales in May grew 6% to 93,775 units. Low-cost environmentally friendly vehicles continued to sell at a pace of 20,000 per month. All eyes are now focused on the results of the Ramadan sales battle taking place this month.
The region’s six leading markets also include the Philippines, Malaysia, Vietnam and Singapore.
From January to May, new-car sales in Southeast Asia jumped 8% on the year to 1,365,132 units, the first time in three years that aggregate sales through May have topped 1.3 million.
Supporting disadvantaged women key to achieving SDGs in ASEAN
The study, which holds a gender lens up to each of the SDGs of the 2030 Agenda, confirms that when two or more forms of discrimination overlap, barriers increase
JAKARTA, 1 March 2021 – Women and girls across South-East Asia who are members of an ethnic minority, live in a rural location, or suffer from poverty are at greatest risk of being left behind despite the region’s recent progress in gender equality, according to a new report by ASEAN and UN Women.
Has Covid-19 prompted the Belt and Road Initiative to go green?
– Chinese overseas investment dropped off in 2020
– Government remains committed to the wide-ranging infrastructure programme
– Sustainability, health and digital to be the new cornerstones of the initiative
Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).
As OBG outlined in April last year, the onset of Covid-19 prompted questions about the future direction of the BRI.
Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through large-scale infrastructure development.
By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or under way across the world.
However, as borders closed and lockdowns were imposed, progress stalled on a number of major BRI infrastructure developments.
In June China’s Ministry of Foreign Affairs announced that 30-40% of BRI projects had been affected by the virus, while a further 20% had been “seriously affected”. Restrictions on the flow of Chinese workers and construction supplies were cited as factors behind project suspensions or slowdowns in Pakistan, Cambodia and Indonesia, among other countries.
Vietnam Loship secures investment from Skype co-founder
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.
Thai Credit Guarantee Corporation (TCG) Will Launch Bad Debt Guarantee Program for SMEs
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Skin-lightening products market to reach US$31 billion by 2024
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Thailand’s Stock Exchange (SET) synergizes with CMDF to strengthen research for capital market development
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New Business Registration Tops Highest since January 2019
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Asian students are vital to the health of Australian universities
Over 170,000 international student visa holders are stuck outside Australia, unable to enter because of travel bans.
Facebook unplugs Thai military propaganda
Facebook said it deleted accounts intended for targeted audiences in the southern provinces of Thailand, where Muslim insurgent groups fight...
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