Thailand Vehicles Market in 2026 is growing. January sales increased by 41.3%, with new incumbents such as BYD, Jaecoo and MG changing the composition of the top 10. EVs surged 163.1%, with BYD securing about 37.6% of a sector which is showing dynamic movements.
Economic Environment
Thailand’s economy is projected to grow 1.6% in 2026, before accelerating to around 2.3% in 2027 as both global and domestic demand gradually stabilize and new foreign investment projects begin to take effect. Export growth is expected to normalize after a strong 2025, although the country’s diversified export base, particularly strong electronics shipments, should help offset weaker performance in agriculture. The tourism sector continues its steady recovery, with international arrivals expected to gradually return to pre-pandemic levels by late 2027 thanks to improved connectivity, diversified source markets, and a focus on higher-value tourism.
Foreign direct investment is also strengthening, with applications nearly doubling in the first nine months of 2025, especially in digital infrastructure, batteries, electronics, and electric vehicle-related industries. Manufacturing remains a key pillar of the economy, accounting for about 25% of GDP and 16% of employment, supporting more than 6 million workers. Increasingly, green manufacturing is emerging as an important growth engine, with green goods already representing nearly 10% of total exports and offering higher technological value. Thailand has significant potential to expand into more advanced green production, particularly in sectors such as energy-efficient cooling technologies, solar photovoltaic products, and electric vehicle supply chains. Expanding these green industries could significantly boost long-term growth, potentially raising GDP by an additional 2.9% by 2035 while creating new jobs and strengthening economic resilience.
Automotive Industry Trend and Outlook
After the negative performance of 2025, the thai vehicle market seems to be recovering. In January 2026, about 89,864 units were sold, with a year-on-year change in volume of 41.3%.
Brand-wise, the leader remained Toyota with a share of 38.1% (-9.5%) followed by BYD -up 2 spots- with a share of 12% (-21.8%), Honda ranked 3rd with 10.7% (-41.5%) while Jaecoo -up 18 spots- followed in 4th with 6.9% (+27.4%).
Isuzu -down 3 spots- maintained 5th position with 4.5% of the market (-8.8%), in front of MG -up 1 spot- (-3.9%) and Aion -up 3 spots- (-38.8%).
Changan ranked in 8th position (+510.8%), followed by Mitsubishi -down 4 spots- (+291%) and Ora -up 6 spots- (-19.1%).
Looking at specific models, reported in the dedicated article, the Toyota Yaris Ativ became the best seller, growing 2 spots and taking the place of the Isuzu D-Max which fell into 4th.
EV Market Trend and Outlook
The thai’s EV sector sees renewed momentum in 2026, reaching an impressive share of 36.2% on total January sales (+163.1%). This surge can be attributed to a combination of government policies, in particular the EV 3.5 programme, as well as a broader assortment of affordable chinese models led by BYD and MG.
BYD was still the sector’s leader, up by 181% and with a share of 37.6%. MG followed in 2nd growing 292.9% and 1 spot while overtaking Deepal which fell 1 spot into 3rd despite still gaining 162.6%.
Medium-Term Market Trend
Thailand’s vehicle market has shown significant fluctuations over the past decade. Sales climbed rapidly from 756,446 units in 2010 to a peak of 1.44 million in 2012, before entering a prolonged downturn that lasted until 2016, when volumes dropped to 769,623 units. The market recovered temporarily in 2017 and 2018, reaching roughly 1.04 million units, but weakened again in 2019 with an 8.8% decline. The COVID-19 pandemic further deepened the contraction, pushing sales to some of the lowest levels of the decade.
Although the market showed brief signs of stabilization and recovery in the early 2020s, structural challenges such as global supply-chain disruptions, raw material shortages, and microchip constraints continued to weigh on performance. Vehicle sales totaled 690,890 units in 2024 (–14.5%) and declined further to 591,172 units in 2025 (–14.4%), highlighting the continued weakness of overall demand and the sector’s difficulty returning to pre-pandemic levels. In contrast, the electric vehicle segment has grown rapidly despite short-term volatility. EV sales fell 6.6% in 2024, but rebounded strongly in 2025, rising 56.2% to 113,719 units, reflecting increasing consumer interest, government incentives, and expanding investment in Thailand’s EV ecosystem.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Groups and top 10 Models.
