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Thailand: Investment in xEVs Continues, Led by Chinese BEVs and Japanese HEVs

GlobalData 5-Year Forecast: Thailand's light vehicle production to rebound to 1.8 million units

2026/11/11

Summary
GlobalData Production Forecast: Thailand light vehicle production expected to recover to 1.80 million units in five years
Thai market shrinks from 800,000 units to around 600,000; Chinese OEMs’ share exceeds 30%
Chinese OEMs face intensifying competition as sales of BEVs double, while Japanese cars dominate HEV segment
Chinese OEMs: Full-scale local manufacturing begins centered on BEVs
Japanese OEMs: Restructuring production operations, investing in electrification

Summary

According to GlobalData's forecast, Thailand's light vehicle production volume is expected to recover from the 1.4 million unit level in 2026 to 1.8 million units in five years. The Thai market is at a critical turning point as it transitions to electrified vehicle (xEV) powertrains, and optimism remains for its long-term potential.

New vehicle sales in Thailand had fallen to around 600,000 units starting in 2024, but they are showing signs of recovery this year. While sales of internal combustion engine (ICE) vehicles fell by 17% year-over-year (y/y) in 2025, sales of battery electric vehicles (BEVs) rose by more than 70%. In 2026, Chinese OEMs continue to expand their BEV sales, and companies such as BYD, SAIC, GAC, Changan, and Chery are moving forward with plans to expand their local manufacturing footprint. On the other hand, the market share of Japanese OEMs fell to 60 percent. Automakers are moving ahead with the roll-out of electrified vehicles and are working to reassess their production organizations.

Vehicle sales volume in Thailand
(Source: MarkLines Thailand sales volume by OEM)

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