Thailand - Automotive Production volume, 2024

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Flash report, Automotive Production volume, 2024

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

Flash report, February 2024

Mar 26, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.


February vehicle sales in Thailand down 26.1%, production down 19.3% (detailed report)
According to the Federation of Thai Industries (FTI), February vehicle sales in Thailand decreased 26.1% year over year (YoY) to 52,843 units from the same period in 2023. The key negative factors pointed out by the FTI were still a stringent requirement of financial institutions for an auto loan and high household debt, an economic slowdown, and a delay in the 2024 fiscal budget. In February 2024, sales of passenger cars, pure pickups, PPVs, and 5-10 ton trucks all recorded a YoY drop.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in February, Toyota (including Lexus) was down 23.1% to 19,702 units. Honda was down 1.4% to 8,587 units and Isuzu was down 50.2% to 7,653 units. Mitsubishi is in the 4th position with 26.4% down to 2,655 units and Ford sales were down 38.6% to 2,206 units. Among other Chinese brands, BYD was ranked 7th with 46.4% down to 1,109 units, while Great Wall Motor (GWM) was ranked 9th with 21.7% up to 943 units.
By body type, passenger cars were down 20.1% year over year to 19,861 units. Commercial vehicle sales were down 29.4% to 32,982 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 44.0% to 18,839 units.
The Toyota Hilux was the bestselling model (registration base) in February with 8,071 units, followed by Isuzu D-Max with 6,822 units, Toyota Yaris ATIV with 4,741 units, Honda City with 3,591 units and Toyota Yaris Cross with 2,934 units and The FTI announced that new vehicle production in February was 133,690 units, down 19.3% YoY. Vehicle production for domestic sales and exports in February 2024 contributed 35.1% and 64.9% respectively. In January-February 2024, vehicle production decreased 15.9% to 275,792 units.
Vehicle exports in February 2024 were 88,720 units, up 0.2% YoY. In February, exports to Asia, the Middle East, Africa, and Europe saw a YoY decline, as some of the countries that are Thailand’s trading partners witnessed an economic slowdown. Moreover, due to the Red Sea crisis, shipping took longer time as shipping companies, for their safety, preferred to sail around the Cape of Good Hope instead. The vehicle export value in February was THB 60.6 billion, up 10.7% year over year. Vehicle exports in the first 2 months of 2024 reached 175,436 units, up 0.1% YoY.

Thailand - Production and Retail Sales of new vehicles

Feb.
2024
Growth
Y-o-Y (%)
Jan.-Feb.
2023
Growth
YTD (%)
Production 133,690 -19.3% 275,792 -15.9%
Domestic Sales 52,843 -26.1% 107,657 -21.5%
Export (CBU) 88,720 0.2% 175,436 0.1%
Source: FTI (Federation of Thai Industries), various media reports


More detailed statistics for Thailand

PAGETOP

Flash report, January 2024

Feb 22, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

January vehicle sales in Thailand down 16.4%, production down 12.5% (detailed report)
According to the Federation of Thai Industries (FTI), January vehicle sales in Thailand decreased 16.4% year over year to 54,814 units. The decline followed semiconductor shortage issue that caused delays in the delivery of some car models. While sales of passenger cars in January saw a YoY growth, sales of pure pickups noted around 43.5% drop following a stringent requirement of financial institutions for an auto loan and high household debt. Sales of PPVs also declined 43.9% YoY as there was no interesting new PPV model released recently, while some customers preferred new hybrid SUVs with affordable prices instead. Other negative factors included an economic slowdown and a delay in the 2024 fiscal budget.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in January, Toyota was down 26.3% to 17,526 units. Honda was up 17.4% to 8,298 units and Isuzu was down 45.9% to 7,930 units. BYD sales were up 650.6% to 7,806 units, and Ford sales were down 41.3% to 1,983 units.
By body type sales in January, passenger cars were up 2.4% year over year to 23,412 units, while commercial vehicles were down 26.5% to 31,402 units. Pickup sales included in the commercial vehicle sales were down 43.5% to 17,938 units.
The Toyota Hilux was the best-selling model in January with 9,354 units, followed by Isuzu D-Max with 9,325 units, Toyota Yaris ATIV with 5,948 units, Honda City with 4,083 units and Toyota Yaris Cross with 3,223 units. BYD Dolphin and Seal ranked sixth and seventh with 3,175 units and 3,008 units, respectively.
New vehicle production in January decreased 12.5% to 142,102 units. Vehicle production for domestic sales and exports in January 2024 contributed 33.07% and 66.93% respectively. In January 2024, production of both 1-ton pickups and passenger cars witnessed a drop YoY.
Vehicle exports in January decreased 0.1% to 86,716 units, valued at THB 60.6 billion, up 15.0%. Exports to Asia, Africa, and North America saw a YoY decline, following the insufficient vessel space issue.
FTI anticipates growth of 3.2% in local car production in 2023 with 1.90 million units (1.15 million units for exports and 750,000 units to be sold locally).

Thailand - Production and Sales
of new vehicles

Jan. 2024 Growth
Y-o-Y (%)
Production 142,102 -12.5%
Domestic Sales 54,814 -16.4%
Export (CBU) 86,716 -0.1%

Source: FTI (Federation of Thai Industries), various media reports



More detailed statistics for Thailand

PAGETOP