Automotive industry in the Asia-Pacific region - statistics & facts

Who are the big players?

Many countries across the Asia-Pacific region stand out as strong competitors in the automotive sector. Japan, China, and South Korea all boast impressive car manufacturing industries. Japan’s Toyota Motor Corporation was ranked the second-biggest car manufacturer globally by market capitalization. While Japan boasts high-value car brands, China produces the largest number of cars in the world. China’s Shanghai Automotive Industry Corporation (SAIC) has consistently exhibited increasing revenue, only experiencing a slight recession in recent years, and South Korea's Hyundai Motor Company stands as the largest vehicle manufacturer in South Korea. Other recently emerged economies have also made a strong entrance into the automotive sector, notably the ASEAN countries. However, Southeast Asian countries experienced a decrease in motor vehicle sales due to the pandemic.

What do consumers want?

In recent years, the industry has suffered somewhat in several countries across the Asia-Pacific region. A possible reason for this could be a rise in environmental awareness among consumers. With increased displays of climate change concern, now more than ever there appears to be high interest in vehicles that offer alternative fuel options. The present and future focus seem to be on electric vehicles. In order to retain their reputation in the automotive industry, it appears as though Asia-Pacific vehicle manufacturers will have to continuously develop and evolve their production of electric and eco-friendly vehicles. Interestingly, countries such as Thailand have started to channel their efforts into targeting foreign investors who seek the rise of eco-friendly automobiles. Beyond environmentally conscious vehicles, autonomous vehicles are also being tested across the Asia-Pacific region. However, presently there remains consumer concern about the safety of such vehicles. Indeed, it appears the Asia-Pacific region will have to tackle both these safety and climate concerns to maintain its global influence in the automotive industry.

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