Thailand Vehicles Market in 2025 experiences a downturn. Full-year sales fell by 14%, with Isuzu and Ford dropping the most. EVs defied the contractionn, led by BYD which reported the largest gains among top 5 brands.
Economic Environment
Thailand’s economic outlook points to moderating growth amid heightened external and structural challenges, despite broadly sound macroeconomic fundamentals. Real GDP growth is expected to slow to around 2.0% in 2025 and further to 1.5% in 2026, reflecting weaker export prospects, ongoing global trade tensions and structural adjustments in key sectors such as manufacturing and tourism, before rebounding to about 2.6% in 2027 as domestic demand and exports gradually recover. Inflation remains low and within the central bank’s target range, allowing monetary policy to stay supportive, although high household and corporate debt continue to pose risks to financial stability.
Fiscal space is increasingly constrained as public debt approaches its policy ceiling, while spending pressures related to population ageing, social protection and climate change intensify, underscoring the need for stronger revenue mobilisation. Over the medium term, sustaining growth and improving living standards will depend critically on structural reforms to boost productivity, including strengthening competition, reducing regulatory burdens, attracting higher-quality foreign investment, addressing widespread informality, and advancing climate adaptation and decarbonisation efforts.
Automotive Industry Trend and Outlook
The Thai Vehicle Market is struggling, with year-on-year change remanining negative throughout whole year. Full-year sales totaled 594,317 units, reporting a loss of 14%.
Brand-wise, the leader remained Toyota with a share of 38.1% (-9.5%) followed by Honda -up 1 spot- with a share of 12% (-21.8%), Isuzu -down 1 spot- ranked 3rd with 10.7% (-41.5%) while BYD -up 1 spot- followed in 4th with 6.9% (+27.4%).
Mitsubishi -up 1 spot- maintained 5th position with 4.5% of the market (-8.8%), in front of MG -up 1 spot- (-3.9%) and Ford -down 3 spots- (-38.8%).
Aion gained 12 spots ranking in 8th position (+510.8%), followed by Changan -up 10 spots- (+291%) and BMW (-19.1%).
Looking at specific models, reported in the dedicated article, the Toyota Hilux was still the best seller despite losing 28.3% in year-on-year volume, followed by the Toyota Yaris Ativ, up by 4.6% and 1 spot from the previous year.
EV Market Trend and Outlook
Thailand’s EV Sector is surging quickly, reaching a 18% share in 2025. The growth can be attributed to the introduction of more affordable EV models and an expansion of domestic production.
BYD was the sector’s leader, up by 37.1% and with a share of 30.6%. MG followed in 2nd growing 23.7% while Deepal ranked 3rd, growing 3 spots and 160.9%.
Medium-Term Market Trend
Thailand’s vehicle market has experienced pronounced volatility over the past decade. Sales rose sharply from 756,446 units in 2010 to a peak of 1.44 million in 2012. This upward trend reversed in 2013, ushering in a prolonged downturn that lasted until 2016, when volumes fell to a low of 769,623 units. A recovery followed in 2017 and 2018, with the market rebounding to around 1.04 million vehicles sold.
In 2019, sales declined again by 8.8%, and the outbreak of the COVID-19 pandemic further intensified the contraction, pushing the market to its lowest level of the decade at 737,244 units. Market conditions stabilised somewhat in 2021, with sales slipping only marginally by 0.3%. Clear signs of recovery emerged in 2022, as volumes increased by 10.8% to 628,423 units, and this momentum initially carried into 2023, with the early months recording positive results.
However, the recovery has proven fragile. Ongoing challenges within the automotive industry, most notably global supply-chain disruptions linked to shortages of raw materials and microchips, have continued to weigh on performance. In 2024, vehicle sales in Thailand totalled 690,890 units, representing a year-on-year decline of 14.4%. Despite intermittent rebounds, the market has failed to return to pre-COVID levels and has shown a broadly declining trend in recent years.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Groups and top 10 Models.
