The latest research from Counterpoint’s SEA Passenger Electric Vehicle Model Sales Tracker reveals that Southeast Asia’s (SEA) passenger battery electric vehicle (BEV) sales grew nearly 10 times year-over-year in Q1 2023.
Thailand accounted for over 75% of BEV sales in the region, followed by Indonesia and Vietnam. Chinese automakers dominated the market, with three out of every four BEVs sold being from a Chinese brand. BYD’s Atto 3 was the top-selling BEV.
Key Takeaways
- Thailand dominated the Southeast Asia BEV market in Q1 2023, accounting for over 75% of sales.
- Chinese automakers captured the majority of BEV sales in the region, with their market share increasing from 38% to nearly 75% in the past year.
- The outlook for the Southeast Asia EV market is promising, with expectations that the share of BEVs in total vehicle sales will reach 6% by the end of the year.
- Chinese EV…
