A Frost & Sullivan analysis covering the four key automotive regions of Indonesia, Malaysia, Thailand and Vietnam finds the market is likely to grow at a compound annual rate of 10.1% from 2011 to 2018.
The Australian government has recalled 21,500 Great Wall vehicles and 2,250 Chery units to add warning stickers, a response a retailers’ group calls “pathetic.”
Before signing on as their exclusive Australian importer, Ateco was given written assurances by Great Wall and Chery that their vehicles complied with local regulations and did not contain any asbestos.
The survey cites demand for vehicle components ranging from high-value forgings and castings to consumables such as batteries or interior parts. One of the biggest markets identified by value is engine parts.
The changes to the scheme are designed to help buyers unable to take delivery of their cars because of high demand and supply constraints following last year's floods, and to ease production pressures on auto makers.
A government minister says the ripple effect could lead to stand-downs for as many as 4,000 workers and cost the auto makers tens of millions of dollars for each day of lost production.