S. Korean automakers increase sales in 6 ASEAN markets

South Korean automakers sold a combined 184,595 vehicles in Vietnam, the Philippines, Indonesia, Malaysia, Singapore, and Thailand in 2019, accounting for 5.2 percent of the vehicle markets.

According to the Korea Automobile Manufacturers Association (KAMA), Korean vehicles' sales in the six countries surged from 168,834 units in 2018 and 133,937 in 2017, with their market share jumping 4 percent in 2017 and from 4.7 percent in 2018.

Rising demand in Vietnam boosted overall Korean vehicle sales in the six ASEAN markets.

Korean carmakers, to avoid hefty auto tariffs, have been shipping vehicles to Vietnam as complete knockdown (CKD) units and assembled at local plants, said Seo Jin-won, a KAMA researcher.

Korean carmakers have shipped CKDs to the other ASEAN markets, but demand for their vehicles remains weak, KAMA said.

Japanese carmakers sold 2.63 million vehicles in the six ASEAN markets in 2019, taking a 74 percent share.

However, the Japanese market share has declined from 77 percent in 2017 and 76 percent in 2018.