Malaysia Overtakes Thailand in New Vehicle Sales

News: Industry News

2024-05-25

Malaysia Overtakes Thailand in New Vehicle Sales

THAILAND REPORT

Rankings of new vehicle sales in Southeast Asia are shifting, with Malaysia overtaking Thailand to take second place in 2023. The Philippines overtook Vietnam to take fourth place. EV sales continue to grow across the region, particularly in Thailand.

New vehicle sales in six major Southeast Asian countries, including Indonesia and Thailand, totaled 3.34 million units in 2023, down 2% from the previous year. This was the first decline in three years. Rising interest rates weighed on the market. In Southeast Asia, customers with low equity often buy cars with car loans, which was affected by higher lending rates and stricter underwriting.

Despite the headwinds, sales increased in Malaysia and the Philippines. Sales in Malaysia rose 11% to 790,000 units, a record high, and the country became the second largest market in the region for the first time. The introduction of sales tax exemptions for domestically produced vehicles as part of an economic stimulus package provided a boost.

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2024-04-17

Global Lawn and Garden Equipment Market

GLOBAL REPORT
Michael Aistrup

The global lawn and Garden Equipment Market, which includes commercial and residential equipment, is projected by Power Systems Research to reach sales of $46.16 billion by 2030. This is a projected increase of $15.96 billion dollars from 2023 to 2030, an increase of 52.8%.

The global impact of COVID-19 is stating to wane and the market is returning to a normal growth rate. Individual homeowners are still interested in lawn and garden care, just not as much as during COVID-19. More people are returning to recreational activities.

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2023-10-23

EU May Impose Tariffs on Chinese EVs

In her annual State of The EU address on Sept. 13, 2023, European Commission President Ursula von der Leyen suggested that Chinese manufacturers are dumping Chinese EVs on EU customers that are priced below what domestic manufacturers charge.

She suggested that the root cause of the problem is the heavy subsidies provided to Chinese automakers by the central government — subsidies that allow them to sell Chinese EVs at artificially low prices to the detriment of domestic companies. If so, she warned the EU would consider imposing new tariffs on Chinese cars to level the playing field.

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2023-08-20

Methane Is A Big Greenhouse Gas Problem

The world has a methane gas problem. Methane is over 80 times worse for forcing global heating over 20 years than its greenhouse gas sibling, carbon dioxide.

And yet we love to burn natural gas, which is mostly methane, to make electricity and heat. Our agricultural and food systems leave a lot of biomass lying around where a lot of it turns into methane and enters the atmosphere. Acceptable limits of leakage are suggested at 0.2%, however evidence suggests that actual leakage to be in the range of 1.5% to 3%

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New Machinery Requirements

Christopher Bamforth
Christopher Bamforth

New Machinery requirements have been published for Europe and will replace the existing Machinery Directive Jan. 20, 2027. OEMs will have to be compliant with the new requirements on that day since there is no transition period.

With a heavy focus on safety, the environment and machine learning, the main takeaways are that these are EU regulations. This means that manufacturers will not have to wait for each member state’s upgrade of the regulation into law. This may streamline the process although it could mean big changes for some member states that previously had fewer requirements.

And there’s another important consideration. Since we have entered the digital age, all certifications and instructions can be in digital format. One exception is the non-professional machinery’s safety measures which must be included in paper format.

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