Thailand Vehicles Market in 2023 closed with a total of 651,317 sales, a 3.6% increase compared to last year. December reported a 0.9% loss, with a total of 35,814 new sales.
Market Trend and Outlook
Thailand Vehicles Market in 2023 closed with a total of 651,317 sales reporting a 3.6% increase compared to last year. December reported a 0.9% loss, with a total of 35,814 new sales.
Looking at cumulative data from 2023 brand-wise, the leader remains Toyota with 276,471 sales (-2.2%) followed by Honda at 93,785 (+7.0%), Ford -up 2 spots- at 37,609 (+18.1%) and Mitsubishi -down 1 spot- with 38,335 registrations (-24.5%).
BYD gains 19 spots and secures 5th position with 29,182 sales (+7620.1%), in front of MG at 28,849 (-2.2%) and Mazda -down 3 spots- with 22,717 sales (-38.1%).
Nissan loses 1 spot ranking in 8th spot with 18,691 registrations (-27.9%), followed by Suzuki -down 1 spot- with 15,226 sales (-26.6%) and Neta gains 22 spots closing the top 10 with 14,126 registrations (+19795.8%).
Looking at specific models the Isuzu D-Max remains the best seller despite losing 27.1% in year-on-year volume, followed by the Toyota Hilux down 18.6% from the previous year.
Medium-Term Market Trend
The vehicles market in Thailand has had many ups and downs in the past years. The market moved from 756,446 sales in 2010 to 1.44 million in 2012. While the trend inverted in the following year, initiating a downtrend that would continue until 2016 where it reached a low of 769,623 sales. 2017 and 2018 were years of recovery were the market grew back up to 1.04 million.
Following an 8.8% drop in 2019, the arrival of the pandemic caused the market to collapse further, reaching the lowest levels of the decade at 737,244 sales.
Thailand’s vehicles market remained relatively static in 2021 falling only 0.3%. While finally in 2022 showed signs of recovery, with volume rising 10.8% to 628,423.
The momentum gained in 2022 continues into 2023, with the first months posting positive performances. Despite the strong start to the year, the vehicles market will have to confront some issues within automotive industry: mainly the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Groups and top 10 Models.
