Thailand vehicles market kept the outstanding momentum in 2018 signing the second consecutive annual growth, with registrations at 850.012 (+21.9%). Toyota, the market leader with 30.2% of market share, is followed by Isuzu and Honda.
Economic Environment
Following a moderation in the pace of growth in the third quarter of 2018, the economy should have accelerated in the final quarter on the back of rising private consumption. Indeed, in October–November, annual private consumption growth remained broadly unchanged from the multi-year high averaged in the second quarter.
Although economic growth is expected to moderate somewhat this year, it should nonetheless remain robust. Growth in fixed investment and public consumption is likely to pick up pace, while private consumption growth should remain solid.
A possible flare up in the U.S.-China trade spat following the end to the temporary truce would dim prospects, while rising tensions leading up to the general election present a further downside risk.
Market Trend
A recovery started just in the 2017, positively impacted by the possibility, after 5 years of ownership, to re-sell vehicles purchased during the “first car buyers” 2012 incentive campaign. Indeed according to data released by the Thai Automotive Industry Association the 2017 total vehicles sales have been 871.644 (+13.4%).
In the 2018 the Thai market improved again. The marked signed a second consecutive annual gain, ending with registrations at 850.012. After keeping a positive trend during the entire year, sales have increased by 21.9% from last year.
Competitive Arena
Brand-wise, the usual dominator of the market, Toyota is on top of the 2018 ranking with 30.2% of market share and sales up 31.3% at 314.498 units, celebrating the 10 million units locally produced milestone, reached in July this year.
Isuzu was second with 177.864 units (+10.8%) followed by Honda with 128.290 (+0.4%), Mitsubishi with 84.563 units (+21.3%), Nissan with 72.394 (+21.2%), Mazda with 70.475 (+37.2%), Ford with 66.064 (+17.6%), Suzuki with 28.503 (+14%) and MG with 23.740 (+97.6%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models
