Production in Asia rises sharply in 9 months 2022
- While production in Europe declined by 6% from January to September, global production continued to rise. In addition to the NAFTA region (USA, Mexico, Canada), whose production increased by 12% year-on-year, it is several Asian countries that are pulling up global production in 2022.
- China, despite its strict Covid 19 policy and related economic problems, produced over 1.3 million more vehicles in the first three quarters of 2022 than in 2021, an increase of 7.6%. Other Asian countries such as Malaysia (+67%), Iran (+62%), Uzbekistan (+41%), Indonesia (+33%), and Kazakhstan (+30%) show even more impressive production figures. It should be mentioned that production in some Asian countries is still at a low level and that these countries usually produce only for their respective regional markets, which, however, have enormous potential with a low level of motorization and a growing economic output.
- India is now the fourth largest country in terms of automotive production, with 4.5 million vehicles in nine months, an increase of 26%. With the new manufacturer VinFast in Vietnam, another Asian country could become an important production location.
The only Asian country whose production volume declined in the nine months to 2022 was Japan, down 3.3%. However, it remains the most important Asian production location after China. South Korea recorded a moderate increase of +4.5%.
The only Asian country whose production volume declined in the nine months to 2022 was Japan, down 3.3%. However, it remains the most important Asian production location after China. South Korea recorded a moderate increase of +4.5%.
- The Asian countries continue to benefit from strong consumer demand, appear to be less affected by logistical problems (as they have easier access to raw materials, especially those for the production of batteries, and to semiconductors), and the war in Ukraine and all its economic side effects appear to have less impact on Asia.
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