ASEAN automotive market shifts toward electrification led by Thailand and Vietnam

ASEAN automotive market electric vehicle sales electrification trends automotive industry growth EV adoption

The ASEAN-6 automotive market is experiencing a significant shift toward electrification, according to reports from PwC. Thailand has emerged as the regional leader in electrified vehicle (xEV) sales, recording a 47% increase to 206,000 units in the first half of 2026. In Thailand, xEVs now account for 53% of total vehicle sales.

Vietnam has recorded the highest growth rate in the ASEAN-6 group, with sales increasing 31.1% to approximately 291,000 units in the first half of 2026. This growth is heavily driven by VinFast, which delivered approximately 116,000 electric vehicles during the same period. Indonesia remains the largest market by absolute volume, with 437,000 units sold.

In response to these market shifts and intensifying competition, manufacturers are implementing aggressive sales strategies. VinFast has opened deposits for its VF Wild range-extended electric vehicle, while Toyota and other brands like Mitsubishi, Honda, and Mazda are offering significant discounts and registration fee support for various models, particularly in the SUV and hybrid segments.

Entities

Kia · MG · Mitsubishi · PwC · Thailand · Toyota · Toyota Vietnam · Vietnam · VinFast

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] Toyota Vietnam is offering promotions on six models including the Vios, Veloz Cross, Avanza Premio, Yaris Cross, Corolla Cross, and Innova Cross. thuonggiaonline.vn
[○ 1 SOURCE] The VF Wild is priced at 860 million VND for black, red, and white colors, and 872 million VND for the silver version.
[○ 1 SOURCE] Toyota Vios G-CVT, E-CVT, and E-MT versions receive support equivalent to 100% of the registration fee. thuonggiaonline.vn
[○ 1 SOURCE] The VF Wild utilizes a Range Extended Electric Vehicle (REEV) powertrain with a 46.4 kWh LFP battery.
[○ 1 SOURCE] Some dealers are offering direct discounts of 140 to 150 million VND on the 2025 MG ZS.
[○ 1 SOURCE] VinFast has opened early deposits for the VF Wild electric vehicle, with a 61 million VND discount for customers who deposit between September 25 and September 30, 2026.
[○ 1 SOURCE] Toyota has introduced registration fee support for the Corolla Cross in 2026, covering 50% of the fee.
[○ 1 SOURCE] Mitsubishi continues to offer support equivalent to 100% of the registration fee for the Xforce model.