While the Asian automotive markets’ spotlight has been brightly shining on China and India in recent years, researchers at Frost & Sullivan (F&S) are pointing to untapped market potential in the ASEAN markets of southeast Asia.
F&S researchers say that the region is likely to be the world’s eighth largest automotive market by 2015 with a total production of over 3 million vehicles. Thailand and Indonesia are set to be the main production hubs, according to F&S.
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“ASEAN is an untapped region with Japanese OEMs having more share in these markets than in their domestic market in Japan,” says F&S Vice President Asia Pacific Automotive & Transportation, Vivek Vaidya. “Indonesia and Thailand are the key ASEAN growth markets and in future Indonesia is likely to emerge as the low cost hub due to advantages in terms of government support, lower labour as well as manufacturing costs,” he adds.
F&S will hold a complimentary web conference, entitled ASEAN – The Final Frontier, taking place on Thursday, 17th November 2011, at 4 p.m. GMT. Vivek Vaidya will ‘investigate the type of vehicles which needs to be introduced in each ASEAN country and present opportunities and challenges lying ahead for Automotive OEMs and suppliers in this region of the world’.
To participate in the complimentary web conference, email Katja Feick at katja.feick@frost.com with your full contact details. Upon receipt of the above information, a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing.
F&S says that the web conference will benefit global and regional OEMs, component manufacturers, distributors and dealers by discussing emerging market trends and providing forward projections for the ASEAN automotive market.
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