D-MAX (Isuzu)

According to the Federation of Thai Industries (FTI), October vehicle sales in Thailand decreased 8.8% year over year (YoY) to 58,963 units from the same period in 2022. Sales in January-October 2023 reached 645,833 units, slid 7.5% from the same period in 2022 . According to the FTI, the strictness in auto loan approval process of financial institutions remains a key reason. Moreover, household debt remains high, and Thailand’s slowing economy is also caused by the delay in the implementation of Thailand's national budget for the 2024 fiscal year, which would also impact government investment.

According to data compiled by Toyota Motor Thailand (TMT), by maker sales in October, Toyota was down 18.0% to 20,852 units. Isuzu was down 22.2% to 10,962 units and Honda was up 23.6% to 7,306 units. BYD is on the 4th position with 3,840 units and MG sales were up 43.2% to 2,700 units. Among other Chinese brands, Great Wall Motor (GWM) was ranked 8th with 1,115 units, up 10.3%, while Neta on the 9th with 1,058 units.

By body type, passenger cars were up 13.7% year over year to 22,130 units. Commercial vehicle sales were down 18.4% to 36,833 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 35.1% to 22,998 units.

The Toyota Hilux was the best-selling model (registration base) in October with 7,693 units, followed by Isuzu D-Max with 7,177 units, Toyota Yaris ATIV with 5,227 units, Honda City with 2,666 units and BYD Dolphin with 2,413 units.

The FTI announced that new vehicle production in October was 158,734 units, down 7.0% YoY. Vehicle production for domestic sales and exports contributed 40.6% and 59.4% respectively. In January-October 2023, vehicle production increased 0.6% to 1,544,705 units.

Vehicle exports in October 2023 were 105,726 units, up 12.2% YoY. In October, exports to Australia, the Middle East, Europe, North America, Central America, and South America improved. The vehicle export value in October was THB 72.5 billion, up 17.3% year over year. Vehicle exports in the first 10 months of 2023 reached 927,625 units, up 15.9% YoY.

On October 24, the FTI also announced that its projection on local car production in 2023 has, once again, been revised downward from 1.9 million units to 1.85 million units. 

On November 3, the Federal Chamber of Automotive Industries announced that new vehicle registrations of 106,809 units in October 2023 represented an increase 22.3% over the last October.

New vehicle sales of 1,006,095 units in the first ten months of the year represented an 12.0% increase YoY.

Passenger car sales of 17,616 units in October represented a 32.2% increase YoY, SUV sales of 59,259 units represented an 22.3% increase, LCV sales of 25,681 units represented an 19.7% increase and MHCV sales of 4,253 units represented an 4.5% increase.

EV accounted for 5.7% share.

Among the companies, Toyota sales increased 11.2% YoY to 20,298 units, Mazda sales increased 61.3% to 9,316 units, Ford sales increased 10.0% to 8,605 units, Hyundai sales increased 25.2% to 6,620 units and Mitsubishi sales increased 6.9% to 6,395 units. MG came in sixth with 6,102 units, up 21.3%.

The best-selling cars in October 2023, in order of popularity, were Toyota Hi-Lux, Isuzu Ute D-Max, and Toyota RAV4.

FCAI release from November 3, 2023

According to the Federation of Thai Industries (FTI), September vehicle sales in Thailand decreased 16.3% year over year (YoY) to 62,086 units from the same period in 2022. Sales in January-September 2023 reached 586,870 units, slid 7.4% from the same period in 2022. The key negative factors mentioned by the FTI still include the strictness in auto loan approval process of financial institutions, especially for pickup trucks, amid the rising household debt.

According to data compiled by Toyota Motor Thailand (TMT), by maker sales in September, Toyota was down 7.9% to 21,141 units. Isuzu was down 49.5% to 10,898 units and Honda was up 34.2% to 9,113 units. BYD rose to the 4th position with 3,231 units and Ford sales were down 41.2% to 2,948 units. Among other Chinese brands, MG was ranked 6th with 2,427 units, up 9.8%, while Great Wall Motor on the 10th with 1,031 units, up 12.7%.

By body type, passenger cars were up 10.4% year over year to 25,425 units. Commercial vehicle sales were down 28.3% to 36,661 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 43.6% to 23,343 units.

The Toyota Hilux was the best-selling model (registration base) in September with 8,452 units, followed by Isuzu D-Max with 8,282 units, Toyota Yaris ATIV with 4,279 units, Honda City with 2,974 units and Ford Ranger with 2,182 units.

The FTI announced that new vehicle production in September was 164,093 units, down 8.4% YoY. Vehicle production for domestic sales and exports contributed 36.6% and 63.4% respectively. In January-September 2023, vehicle production increased 1.6% to 1,385,971 units.

Vehicle exports in September 2023 were at 97,476 units, down 2.9% YoY. In September, exports to the Middle East, Europe, North America, Central America, and South America improved. The vehicle export value in September was THB 62.5 billion, down 7.5% year over year. Vehicle exports in the first 9 months of 2023 reached 821,899 units, up 16.3% YoY.

On October 24, the FTI also announced that its projection on local car production in 2023 has, once again, been revised downward from 1.9 million units to 1.85 million units. The targeted vehicle production for exports stays at 1.05 million units, while production for local sales has been lowered from 850,000 units to 800,000 units.