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Cambodia. Ford holding over 30% in stable market

Cambodian Auto market reported a very strong May following the end of activities shutdown and is now projecting a recovery after the huge loss suffered in March/April for anti-covid19 restrictions.Economic EnvironmentThe economy is currently deteriorating due to the Covid-19 fallout and restrictions to curtail its spread. The all-important apparel industry is reeling from falling demand from key western markets and a lack of imports of raw materials from China amid supply-side disruptions. In addition, the general collapse in international travel is hammering the crucial tourism industry; air passengers were down by more than 90% in April, according to official estimates. The nascent hydrocarbon industry is being hit as well, as the crash in oil prices is prompting delays in the development of the Apsara offshore oil field.Market TrendCambodian vehicles market continue to be full of contradiction and request for changes in the current rules were raised by all key players, while the renovated political victory of the President Hun Sen has not produced effects while postponing the adoption of more logic limits to the import of new and old vehicles rules.Indeed, together with Laos, Cambodia is the only country within the ASEAN without a clear policy against the import of pre-owned old, high polluting, low safety vehicles and the tax reform applied in 2017, which increased the duties for new vehicles import, has penalized the local distributors which increased price freezing a potentially high demand and creating wide space for trading from Japan or others ASEAN countries.In 2020, the steady start of the year was followed by sale slump in April, when the market was closed for covid19 counteractions. However, from the business restart in May, demand was almost positive with May ended with 2.823 units, well ahead of the previous year, projecting the market at a strong recovery in the second half of the year.The current leader, Ford, which has grown from 8.9% of share in 2010 to 26.8% in 2019, is followed by Toyota and, with some surprise, Mazda, which is the fastest growing brand in the country.Tables with sales figuresIn the tables below we report sales for top BrandsThis content is for members only. Visit the site and log in/register to read.

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