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Total Asian Auto Industry Sales (All Years) | GCBC
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Total Asian Auto Industry Sales (All Years)

Total Asian Passenger Cars Sales & Trends (Since 2005)

According to the OICA, the total passenger car sales in Asia in 2022 was 37.5 million units, a decrease of 2.4% from 2021. China is the largest car market in Asia, accounting for over 23.6 million units sold in 2022. Japan and India are the second and third largest car markets in Asia, with sales of 5.9 million and 3.3 million units respectively.

The decline in car sales in Asia is due to a number of factors, including the COVID-19 pandemic, chip shortages, and rising inflation. The COVID-19 pandemic has disrupted supply chains and led to production delays, while chip shortages have also affected production. Rising inflation has made cars more expensive, which has also dampened demand.

Despite the decline in car sales, there are some positive trends in the Asian passenger car market. The market share of electric cars has increased significantly in recent years, and it is expected to continue to grow in the coming years. In 2022, electric cars accounted for 10% of new car sales in Asia, up from 5% in 2019. The Asian passenger car market is expected to recover in the coming years, but it is unlikely to return to the levels seen before the COVID-19 pandemic. The market is expected to grow at a slower pace than in previous years, and the shift to electric cars is expected to continue.

Asian Automotive Market Trends

Asia, being a diverse and expansive continent, has seen a multitude of automotive trends influenced by various cultural, economic, and regulatory factors.

China emerged as the world’s largest market for electric vehicles (EVs). Driven by government incentives, a focus on reducing pollution, and burgeoning local manufacturers like NIO, Xpeng, and BYD, electric car sales saw significant growth. China’s ambition to be a leader in EV technology translated to significant investments in battery technology and manufacturing capacity.

Due to factors like budget-conscious consumers, dense urban environments, and challenging road conditions, there’s been a strong preference for compact and affordable cars in India. Brands like Maruti Suzuki, Tata, and Hyundai have thrived by offering compact models tailored for the Indian market. Multi-Purpose Vehicles (MPVs) have been popular in countries like Indonesia and the Philippines. These vehicles, which can carry many passengers, suit the family-oriented cultures and are also commonly used as shared taxis or for ride-hailing services.

Brands like Hyundai, Kia (South Korea), Toyota, Honda, Nissan (Japan), and Geely (China) have strengthened their presence, not just within Asia, but on the global stage, bringing innovative models and technologies to market. With rapid economic development, many Asian countries have invested in infrastructure. This has influenced car trends, with better roads allowing for a wider variety of vehicle types and sizes. Global automakers have made efforts to cater to local tastes and preferences. This includes not just design modifications but also setting up R&D and production facilities in key markets.

Mirroring global trends, SUVs and crossovers have gained popularity across Asia. This trend can be seen from urban areas in Japan to emerging markets like India and Vietnam. Asian car buyers, especially the younger generation, have shown a strong preference for vehicles with advanced infotainment systems, connectivity options, and digital features.

Asian Passenger Car Sales

Charts & Trends

Asian Passenger Car Sales by Country