Electric Vehicles (EVs) are showing promise as the next generation of transport, with many nations in the South-East Asian and Oceania region leading the way in development, innovation, and sales of battery EVs, hybrids or plug-in hybrids (PHEVs) not only in their home regions but around the world. Japanese car makers Toyota, Honda, Nissan, Subaru, and Mazda have all jumped on board electric, as have Korean brands Hyundai and Kia – the former’s Ioniq line becoming one of the most popular cars in Australia. As brands continue to innovate with new technology, it will lead to EVs having lower prices, longer ranges, and better safety features.
So, what are the state of EV vs ICE (Internal Combustion Engine) sales in Oceania at the moment, and what will the future hold as countries roll back consumer incentives for EV purchases?
Australian sales statistics
New car sales in Australia increased 5.8% year-on-year during January 2024, selling 89,782 units. The most popular type of car sold were SUVs, accounting for 55.5% of all sales. PHEV and Hybrids accounted for 17.4% of sales and Battery EVs market share was 5.4%.
Singapore sales statistics
In 2023, Singaporeans registered 5,468 EVs, a 50.5% increase over the previous year. This represents 18.1% of all car registrations. The market in Singapore for EVs was valued at almost $100 million USD.
South Korea sales statistics
In 2023, South Koreans bought 1.45 million new vehicles, with local manufacturers Hyundai (54.4%) and Kia (39.2%) comprising most of the sales. This was up 4.46% over last year. EV sales did not substantially increase, with only a 1% jump over last year. Total EV sales were 541,877, according to PwC.
Japan sales statistics
Japan’s vehicle market expanded by 14% to 4.8 million cars sold, with Toyota being the leader in sales. Passenger vehicle sales rose 19.2%, and Japanese-centric “mini-cars” also saw 9.5% growth. Japanese BEV sales increased by 39% during 2023, with BEVs and PHEVs taking 2% market share each.
Taiwan sales statistics
Taiwan sold 477,021 units in 2023, an increase of 11%. As of 2022, electric passenger cars comprised 3.4% of total registrations in Taiwan. This is despite Taiwan manufacturing many of the electronic components used in EVs globally.
South-East Asian sales statistics
Other Southeast Asian countries had varying sales results. Vietnam’s sales dropped 20.6% from the previous year to 404,294 units, with BEV sales from January to September 2023 accounting for 21,000 units, an increase of 8.3x over last year. Indonesia saw a decrease of 0.5% over last year, selling 779,326 passenger cars, an overall decrease of 4%. Sales of electric vehicles surged by 3.4x to 69,903 units. Thailand also saw an 8.7% decline in sales over 2022, with only 775,783 cars sold in 2023. Exclusive EV brands (NETA & BYD) sold a combined 25,055 units owing to generous government subsidies.
The uptake of EVs seems to be hit or miss all over South East Asia, depending on subsidies, the state of consumer confidence, and local manufacturing. The global trend seems to be upward – at least for now.