Based on official reports, the ASEAN Light Vehicle (LV) market continued to slow by 9% YoY, with June representing the 11th consecutive month of decline. Consequently, sales in Q2 2024 fell by 5% QoQ, marking the fifth successive quarter of weakening and contributing to an 8% YoY drop for H1 2024 overall. This downward trend was largely attributable to negative sentiment in Thailand and Indonesia.
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