Thailand - Automotive Sales volume, 2024

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Flash report, Automotive sales volume, 2024

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

Flash report, June 2024

Jul 25, 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.

Thailand - Production and Retail Sales of new vehicles

Jun.
2024
Growth
Y-o-Y (%)
Jan.-Jun.
2024
Growth
YTD (%)
Production 116,289 -20.1% 761,240 -17.4%
Domestic Sales 47,662 -26.0% 308,027 -24.2%
Export (CBU) 89,071 0.3% 519,040 -1.8%
Source: FTI (Federation of Thai Industries), various media reports

* Data is updated regularly, these figures may change.


Thailand - Top 10 best selling models
- Maker/Brand Model Jun. 2024 Jun. 2023 Y-o-Y Jan.-Jun.
2024
Jan.-Jun.
2023
Y-o-Y
1 Toyota Hilux 6,669 9,984 -33.2% 44,607 66,110 -32.5%
2 Isuzu D-Max 5,004 11,014 -54.6% 41,868 80,389 -47.9%
3 Toyota Yaris ATIV 3,893 4,464 -12.8% 26,641 30,325 -12.1%
4 Toyota Yaris Cross 3,511 - -% 19,358 - -%
5 Honda City 3,037 4,308 -29.5% 19,657 26,552 -26.0%
6 Honda HR-V 2,388 2,271 5.2% 13,890 13,514 2.8%
7 Toyota Corolla Cross 1,637 1,784 -8.2% 9,156 11,567 -20.8%
8 Ford Ford Ranger 1,539 2,465 -37.6% 10,628 16,945 -37.3%
9 Toyota Fortuner 1,290 2,041 -36.8% 8,922 15,520 -42.5%
10 Mitsubishi Xpander 1,078 995 8.3% 5,076 6,975 -27.2%
Source: MarkLines Data Center


More detailed statistics for Thailand

PAGETOP

Flash report, May 2024

Jun 25, 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.

May vehicle sales in Thailand down 23.4%, production down 16.2% (detailed report)
According to the Federation of Thai Industries (FTI), May vehicle sales in Thailand decreased 23.4% year over year (YoY) to 49,871 units from the same period in 2023. In the first 5 months of 2024, vehicle sales reached 260,365 units, a decline of 23.8% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in May, Toyota (including Lexus) was down 8.4% to 19,504 units. Isuzu was down 40.6% to 7,833 units and Honda was down 2.5% to 6,527 units. Mitsubishi is in the 4th position with 20.7% down to 2,383 units and BYD sales were down 3.3% to 1,958 units. Among other Chinese brands, MG was ranked 7th with 44.3% down to 1,343 units.
By body type, passenger cars were down 28.1% year over year to 18,686 units. Commercial vehicle sales were down 20.2% to 31,185 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 35.4% to 17,651 units.
The Isuzu D-Max was the bestselling model (registration base) in May with 8,135 units, followed by Toyota Hilux with 6,572 units, Toyota Yaris ATIV with 3,964 units, Honda City with 3,097 units and Toyota Yaris Cross with 3,025 units.
The FTI announced that new vehicle production in May was 126,161 units, down 16.2% YoY. Vehicle production for domestic sales and exports in May 2024 contributed 29.6% and 70.4% respectively. production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a YoY drop. FTI noted that production for domestic sales of 1-ton pickup trucks in May declined over 54% YoY. In January-May 2024, vehicle production decreased 16.9% to 644,951 units.
Vehicle exports in May 2024 were 89,284 units, up 3.4% YoY. Exports of hybrid passenger cars skyrocketed over 373% to reach 4,404 units. The vehicle export value in May was THB 63.1 billion, up 14.7% year over year. Vehicle exports in the first 5 months of 2024 reached 429,969 units, down 2.3% YoY.
The FTI commented that the key negative factors were still (i) strictness of financial institutions in granting auto loans, (ii) Thailand’s slower economic growth, and (iii) a delay in the fiscal budget that has also delayed many activities and investments of both public and private segments. Also, many factories have announced layoffs and reductions of working hours. People were getting more cautious about spending amid higher living costs. The FTI expected to see the local economic recovery in the latter half of 2024.

Thailand - Production and Retail Sales of new vehicles

May
2024
Growth
Y-o-Y (%)
Jan.-May
2024
Growth
YTD (%)
Production 126,161 -16.2% 644,951 -16.9%
Domestic Sales 49,871 -23.4% 260,365 -23.8%
Export (CBU) 89,284 3.4% 429,969 -2.3%
Source: FTI (Federation of Thai Industries), various media reports

New vehicle retail sales by major makers

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
May Share May Share Jan.-May Share Jan.-May Share
Toyota * 19,504 39.1% 21,296 32.7% -8.4% 97,736 37.5% 115,982 33.9% -15.7%
Isuzu 7,883 15.8% 13,281 20.4% -40.6% 39,183 15.0% 73,776 21.6% -46.9%
Honda 6,527 13.1% 6,697 10.3% -2.5% 37,374 14.4% 39,067 11.4% -4.3%
Mitsubishi 2,383 4.8% 3,005 4.6% -20.7% 12,187 4.7% 16,825 4.9% -27.6%
BYD 1,958 3.9% 2,025 3.1% -3.3% 12,902 5.0% 9,310 2.7% 38.6%
Ford 1,701 3.4% 2,993 4.6% -43.2% 9,651 3.7% 16,911 4.9% -42.9%
MG 1,343 2.7% 2,413 3.7% -44.3% 7,626 2.9% 10,703 3.1% -28.7%
Mazda 961 1.9% 1,537 2.4% -37.5% 4,399 1.7% 8,036 2.4% -45.3%
Nissan 960 1.9% 1,332 2.0% -27.9% 4,686 1.8% 7,732 2.3% -39.4%
Suzuki 685 1.4% 1,268 1.9% -46.0% 3,272 1.3% 5,745 1.7% -43.0%
Others 5,966 12.0% 9,241 14.2% -35.4% 31,349 12.0% 37,604 11.0% -16.6%
Total 49,871 100.0% 65,088 100.0% -23.4% 260,365 100.0% 341,691 100.0% -23.8%
* Includes sales volume of the Lexus.

Passenger Cars
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
May Share May Share Jan.-May Share Jan.-May Share
Toyota * 5,761 30.8% 8,266 31.8% -30.3% 27,892 27.5% 43,630 35.3% -36.1%
Honda 3,610 19.3% 4,415 17.0% -18.2% 21,250 20.9% 25,984 21.0% -18.2%
Mitsubishi 1,572 8.4% 1,506 5.8% 4.4% 8,191 8.1% 8,227 6.6% -0.4%
BYD 1,101 5.9% - -% -% 9,756 9.6% - -% -%
MG 1,077 5.8% 1,597 6.1% -32.6% 6,066 6.0% 6,786 5.5% -10.6%
Suzuki 626 3.4% 1,027 4.0% -39.0% 2,852 2.8% 4,621 3.7% -38.3%
Mazda 549 2.9% 900 3.5% -39.0% 2,357 2.3% 3,886 3.1% -39.3%
Neta 507 2.7% 2,288 8.8% -77.8% 2,210 2.2% 5,018 4.1% -56.0%
Nissan 382 2.0% 781 3.0% -51.1% 1,784 1.8% 2,948 2.4% -39.5%
GWM 255 1.4% 863 3.3% -70.5% 1,636 1.6% 1,884 1.5% -13.2%
Porsche 132 0.7% 167 0.6% -21.0% 716 0.7% 633 0.5% 13.1%
KIA 101 0.5% 136 0.5% -25.7% 430 0.4% 586 0.5% -26.6%
Hyundai 98 0.5% 111 0.4% -11.7% 721 0.7% 239 0.2% 201.7%
Others 2,915 15.6% 3,928 15.1% -25.8% 15,728 15.5% 19,312 15.6% -18.6%
Total 18,686 100.0% 25,985 100.0% -28.1% 101,589 100.0% 123,754 100.0% -17.9%
* Includes sales volume of the Lexus.

Commercial vehicles (incl. 1-ton pickups and SUVs)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
May Share May Share Jan.-May Share Jan.-May Share
Toyota * 13,743 44.1% 13,030 33.3% 5.5% 69,844 44.0% 72,352 33.2% -3.5%
Isuzu 7,883 25.3% 13,281 34.0% -40.6% 39,183 24.7% 73,776 33.9% -46.9%
Honda 2,917 9.4% 2,282 5.8% 27.8% 16,124 10.2% 13,083 6.0% 23.2%
Ford 1,699 5.4% 2,993 7.7% -43.2% 9,645 6.1% 16,902 7.8% -42.9%
BYD 857 2.7% 2,025 5.2% -57.7% 3,146 2.0% 9,310 4.3% -66.2%
Mitsubishi 811 2.6% 1,499 3.8% -45.9% 3,996 2.5% 8,598 3.9% -53.5%
Nissan 578 1.9% 551 1.4% 4.9% 2,902 1.8% 4,784 2.2% -39.3%
Mazda 412 1.3% 637 1.6% -35.3% 2,042 1.3% 4,150 1.9% -50.8%
Hyundai 314 1.0% 226 0.6% 38.9% 1,449 0.9% 1,383 0.6% 4.8%
GWM 277 0.9% 551 1.4% -49.7% 2,027 1.3% 3,204 1.5% -36.7%
MG 266 0.9% 816 2.1% -67.4% 1,560 1.0% 3,917 1.8% -60.2%
Hino 261 0.8% 810 2.1% -67.8% 1,948 1.2% 4,198 1.9% -53.6%
KIA 85 0.3% 1 0.0% 8400.0% 116 0.1% 11 0.0% 954.5%
Suzuki 59 0.2% 241 0.6% -75.5% 420 0.3% 1,124 0.5% -62.6%
Subaru 52 0.2% 91 0.2% -42.9% 390 0.2% 850 0.4% -54.1%
CP Foton 11 0.0% 37 0.1% -70.3% 142 0.1% 129 0.1% 10.1%
Peugeot 11 0.0% 32 0.1% -65.6% 106 0.1% 163 0.1% -35.0%
Others 949 3.0% 0 0.0% -% 3,736 2.4% 3 0.0% 124433.3%
Total 31,185 100.0% 39,103 100.0% -20.2% 158,776 100.0% 217,937 100.0% -27.1%
* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
May Share May Share Jan.-May Share Jan.-May Share
Toyota 7,855 44.5% 10,205 37.3% -23.0% 41,750 45.5% 59,741 38.4% -30.1%
Isuzu 6,873 38.9% 12,131 44.4% -43.3% 34,445 37.5% 67,533 43.4% -49.0%
Ford 1,699 9.6% 2,993 11.0% -43.2% 9,645 10.5% 16,902 10.9% -42.9%
Mitsubishi 795 4.5% 1,482 5.4% -46.4% 3,961 4.3% 8,541 5.5% -53.6%
Nissan 279 1.6% 315 1.2% -11.4% 1,401 1.5% 1,951 1.3% -28.2%
Mazda 99 0.6% 106 0.4% -6.6% 350 0.4% 474 0.3% -26.2%
MG 51 0.3% 91 0.3% -44.0% 213 0.2% 471 0.3% -54.8%
Total 17,651 100.0% 27,323 100.0% -35.4% 91,765 100.0% 155,613 100.0% -41.0%


SUV
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
May *1 Share May *1 Share Jan.-May *1 Share Jan.-May *1 Share
Toyota * 4,922 44.8% 1,938 23.0% 154.0% 24,256 44.4% 8,859 19.5% 173.8%
Honda 2,917 26.5% 2,282 27.1% 27.8% 16,124 29.5% 13,083 28.8% 23.2%
Mazda 313 2.8% 531 6.3% -41.1% 1,692 3.1% 3,676 8.1% -54.0%
Nissan 299 2.7% 219 2.6% 36.5% 1,499 2.7% 2,684 5.9% -44.2%
GWM 277 2.5% 551 6.6% -49.7% 2,027 3.7% 3,204 7.0% -36.7%
MG 215 2.0% 725 8.6% -70.3% 1,347 2.5% 3,446 7.6% -60.9%
KIA 85 0.8% - -% -% 116 0.2% - -% -%
Hyundai 84 0.8% - -% -% 310 0.6% 155 0.3% 100.0%
Subaru 52 0.5% 91 1.1% -42.9% 390 0.7% 850 1.9% -54.1%
Mitsubishi 16 0.1% 17 0.2% -5.9% 35 0.1% 57 0.1% -38.6%
Peugeot 11 0.1% 32 0.4% -65.6% 106 0.2% 163 0.4% -35.0%
Others 4 0.0% 0 0.0% -% 22 0.0% 3 0.0% 633.3%
GAC N/A -% N/A -% -% 484 0.9% N/A -% -%
BYD N/A -% N/A -% -% N/A -% N/A -% -%
Changan N/A -% N/A -% -% N/A -% N/A -% -%
Total 10,993 100.0% 8,411 100.0% 30.7% 54,657 100.0% 45,490 100.0% 20.2%
Source: Toyota Motor Thailand Co., Ltd. (TMT)
*1 Data announced by TMT.
* Y-o-Y is based on MarkLines' own calculation.

Thailand - Top 10 best selling models
- Maker/Brand Model May 2024 May 2023 Y-o-Y Jan.-May
2024
Jan.-May
2023
Y-o-Y
1 Isuzu D-Max 8,135 13,120 -38.0% 36,864 69,375 -46.9%
2 Toyota Hilux 6,572 11,063 -40.6% 37,938 56,126 -32.4%
3 Toyota Yaris ATIV 3,964 4,572 -13.3% 22,748 25,861 -12.0%
4 Honda City 3,097 4,379 -29.3% 16,620 22,244 -25.3%
5 Toyota Yaris Cross 3,025 - -% 15,847 - -%
6 Honda HR-V 1,983 2,547 -22.1% 11,502 11,243 2.3%
7 Ford Ford Ranger 1,463 2,421 -39.6% 9,089 14,480 -37.2%
8 Toyota Corolla Cross 1,414 1,675 -15.6% 7,519 9,783 -23.1%
9 Toyota Fortuner 1,211 2,359 -48.7% 7,632 13,479 -43.4%
10 Isuzu MU-X 1,132 2,157 -47.5% 6,506 11,349 -42.7%
Source: MarkLines Data Center


More detailed statistics for Thailand

PAGETOP

Flash report, April 2024

Jun. 3, 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.

April vehicle sales in Thailand down 21.5%, production down 11.0% (detailed report)
According to the Federation of Thai Industries (FTI), April vehicle sales in Thailand decreased 21.5% year over year (YoY) to 46,738 units from the same period in 2023. In the first 4 months of 2024, vehicle sales reached 210,494 units, a decline of 23.9% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in April, Toyota (including Lexus) was down 0.7% to 19,422 units. Isuzu was down 48.6% to 6,856 units and Honda was down 10.4% to 5,743 units. Mitsubishi is in the 4th position with 22.4% down to 2,217 units and Ford sales were down 29.8% to 2,016 units. Among other Chinese brands, MG was ranked 6th with 24.2% down to 1,451 units, BYD was ranked 8th with 48.5% down to 897 units, and Great Wall Motor was ranked 10th with 45.2% down to 792 units.
By body type, passenger cars were down 14.4% year over year to 17,288 units. Commercial vehicle sales were down 25.1% to 29,450 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 34.0% to 17,689 units.
The Toyota Hilux was the bestselling model (registration base) in April with 6,151 units, followed by Isuzu D-Max with 5,954 units, Toyota Yaris ATIV with 3,798 units, Toyota Yaris Cross with 3,058 units and Honda City with 2,656 units.
The FTI announced that new vehicle production in April was 104,667 units, down 11.0% YoY. Vehicle production for domestic sales and exports in April 2024 contributed 31.3% and 68.7% respectively. In January-April 2024, vehicle production decreased 17.0% to 518,790 units.
Vehicle exports in April 2024 were 70,160 units, down 12.2% YoY. The FTI also revealed that exports of HEVs reached 2,501 units in April. The vehicle export value in April was THB 33.5 billion, up 11.3% year over year. Vehicle exports in the first 4 months of 2024 reached 340,685 units, down 3.7% YoY.
The FTI commented that the strictness of financial institutions in granting auto loans and Thailand’s slower economic growth continued to have a negative impact on the local auto industry. Moreover, a delay in the 2024 fiscal budget has also delayed many activities and investments of both public and private segments. The unemployment rate remained high and people’s purchasing power were weak. Once the 2024 fiscal budget comes into effect, the FTI expected that the government will accelerate public investment disbursement and stimulate economic growth. As the government has already approved new measures to support the property market in April, the FTI asked the government to further stimulate local car purchases as well, especially those internal combustion cars and pickup trucks that use over 90% of domestically produced parts.

Thailand - Production and Retail Sales of new vehicles

Apr.
2024
Growth
Y-o-Y (%)
Jan.-Apr.
2024
Growth
YTD (%)
Production 104,667 -11.0% 518,790 -17.0%
Domestic Sales 46,738 -21.5% 210,494 -23.9%
Export (CBU) 70,160 -12.2% 340,685 -3.7%

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

New vehicle retail sales by major makers

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Apr. Share Apr. Share Jan.-Apr. Share Jan.-Apr. Share
Toyota * 19,422 41.6% 19,565 32.9% -0.7% 78,232 37.2% 94,686 34.2% -17.4%
Isuzu 6,856 14.7% 13,336 22.4% -48.6% 31,300 14.9% 60,495 21.9% -48.3%
Honda 5,743 12.3% 6,409 10.8% -10.4% 30,847 14.7% 32,370 11.7% -4.7%
Mitsubishi 2,217 4.7% 2,858 4.8% -22.4% 9,804 4.7% 13,820 5.0% -29.1%
Ford 2,016 4.3% 2,871 4.8% -29.8% 7,950 3.8% 13,918 5.0% -42.9%
MG 1,451 3.1% 1,915 3.2% -24.2% 6,283 3.0% 8,290 3.0% -24.2%
Mazda 1,007 2.2% 2,079 3.5% -51.6% 3,438 1.6% 6,499 2.3% -47.1%
BYD 897 1.9% 1,743 2.9% -48.5% 10,944 5.2% 7,285 2.6% 50.2%
Nissan 851 1.8% 1,326 2.2% -35.8% 3,726 1.8% 6,400 2.3% -41.8%
GWM 792 1.7% 1,445 2.4% -45.2% 3,131 1.5% 3,674 1.3% -14.8%
Others 5,486 11.7% 5,983 10.1% -8.3% 24,839 11.8% 29,166 10.5% -14.8%
Total 46,738 100.0% 59,530 100.0% -21.5% 210,494 100.0% 276,603 100.0% -23.9%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Apr. Share Apr. Share Jan.-Apr. Share Jan.-Apr. Share
Toyota * 5,500 31.8% 7,284 36.1% -24.5% 22,131 26.7% 35,364 36.2% -37.4%
Honda 3,442 19.9% 3,783 18.7% -9.0% 17,640 21.3% 21,569 22.1% -18.2%
Mitsubishi 1,665 9.6% 1,503 7.4% 10.8% 6,619 8.0% 6,721 6.9% -1.5%
MG 1,159 6.7% 1,213 6.0% -4.5% 4,989 6.0% 5,189 5.3% -3.9%
BYD 680 3.9% - -% -% 8,655 10.4% - -% -%
Mazda 538 3.1% 941 4.7% -42.8% 1,808 2.2% 2,986 3.1% -39.5%
Suzuki 530 3.1% 949 4.7% -44.2% 2,226 2.7% 3,594 3.7% -38.1%
Neta 390 2.3% 325 1.6% 20.0% 1,703 2.1% 2,730 2.8% -37.6%
Nissan 321 1.9% 427 2.1% -24.8% 1,402 1.7% 2,167 2.2% -35.3%
GWM 308 1.8% 631 3.1% -51.2% 1,381 1.7% 1,021 1.0% 35.3%
Hyundai 273 1.6% 128 0.6% 113.3% 623 0.8% 128 0.1% 386.7%
KIA 135 0.8% 147 0.7% -8.2% 329 0.4% 450 0.5% -26.9%
Porsche 89 0.5% 68 0.3% 30.9% 584 0.7% 466 0.5% 25.3%
Others 2,258 13.1% 2,804 13.9% -19.5% 12,813 15.5% 15,384 15.7% -16.7%
Total 17,288 100.0% 20,203 100.0% -14.4% 82,903 100.0% 97,769 100.0% -15.2%

* Includes sales volume of the Lexus.

Commercial vehicles (incl. 1-ton pickups and SUVs)

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Apr. Share Apr. Share Jan.-Apr. Share Jan.-Apr. Share
Toyota * 13,922 47.3% 12,281 31.2% 13.4% 56,101 44.0% 59,322 33.2% -5.4%
Isuzu 6,856 23.3% 13,336 33.9% -48.6% 31,300 24.5% 60,495 33.8% -48.3%
Honda 2,301 7.8% 2,626 6.7% -12.4% 13,207 10.4% 10,801 6.0% 22.3%
Ford 2,015 6.8% 2,869 7.3% -29.8% 7,946 6.2% 13,909 7.8% -42.9%
Mitsubishi 552 1.9% 1,355 3.4% -59.3% 3,185 2.5% 7,099 4.0% -55.1%
Nissan 530 1.8% 899 2.3% -41.0% 2,324 1.8% 4,233 2.4% -45.1%
GWM 484 1.6% 814 2.1% -40.5% 1,750 1.4% 2,653 1.5% -34.0%
Mazda 469 1.6% 1,138 2.9% -58.8% 1,630 1.3% 3,513 2.0% -53.6%
Hyundai 367 1.2% 180 0.5% 103.9% 1,135 0.9% 1,157 0.6% -1.9%
MG 292 1.0% 702 1.8% -58.4% 1,294 1.0% 3,101 1.7% -58.3%
BYD 217 0.7% 1,743 4.4% -87.6% 2,289 1.8% 7,285 4.1% -68.6%
Hino 160 0.5% 842 2.1% -81.0% 1,687 1.3% 3,388 1.9% -50.2%
Subaru 92 0.3% 288 0.7% -68.1% 338 0.3% 759 0.4% -55.5%
Suzuki 78 0.3% 205 0.5% -62.0% 361 0.3% 883 0.5% -59.1%
KIA 29 0.1% 5 0.0% 480.0% 31 0.0% 10 0.0% 210.0%
Peugeot 20 0.1% 30 0.1% -33.3% 95 0.1% 131 0.1% -27.5%
Others 1,066 3.6% 14 0.0% 7514.3% 2,918 2.3% 95 0.1% 2971.6%
Total 29,450 100.0% 39,327 100.0% -25.1% 127,591 100.0% 178,834 100.0% -28.7%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Apr. Share Apr. Share Jan.-Apr. Share Jan.-Apr. Share
Toyota 8,647 48.9% 10,249 38.2% -15.6% 33,895 45.7% 49,536 38.6% -31.6%
Isuzu 6,091 34.4% 11,880 44.3% -48.7% 27,572 37.2% 55,402 43.2% -50.2%
Ford 2,015 11.4% 2,869 10.7% -29.8% 7,946 10.7% 13,909 10.8% -42.9%
Mitsubishi 542 3.1% 1,342 5.0% -59.6% 3,166 4.3% 7,059 5.5% -55.1%
Nissan 250 1.4% 300 1.1% -16.7% 1,122 1.5% 1,636 1.3% -31.4%
Mazda 104 0.6% 112 0.4% -7.1% 251 0.3% 368 0.3% -31.8%
MG 40 0.2% 66 0.2% -39.4% 162 0.2% 380 0.3% -57.4%
Total 17,689 100.0% 26,818 100.0% -34.0% 74,114 100.0% 128,290 100.0% -42.2%


SUV

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Apr. *1 Share Apr. *1 Share Jan.-Apr. *1 Share Jan.-Apr. *1 Share
Toyota * 4,578 46.8% 1,409 15.4% 224.9% 19,334 44.3% 6,921 18.7% 179.4%
Honda 2,301 23.5% 2,626 28.6% -12.4% 13,207 30.2% 10,801 29.1% 22.3%
GWM 484 4.9% 814 8.9% -40.5% 1,750 4.0% 2,653 7.2% -34.0%
Mazda 365 3.7% 1,026 11.2% -64.4% 1,379 3.2% 3,145 8.5% -56.2%
Nissan 280 2.9% 590 6.4% -52.5% 1,200 2.7% 2,465 6.6% -51.3%
MG 252 2.6% 636 6.9% -60.4% 1,132 2.6% 2,721 7.3% -58.4%
Hyundai 103 1.1% - -% -% 226 0.5% 155 0.4% 45.8%
Subaru 92 0.9% 288 3.1% -68.1% 338 0.8% 759 2.0% -55.5%
KIA 29 0.3% - -% -% 31 0.1% - -% -%
Peugeot 20 0.2% 30 0.3% -33.3% 95 0.2% 131 0.4% -27.5%
Others 14 0.1% 13 0.1% 7.7% 37 0.1% 43 0.1% -14.0%
GAC N/A -% N/A -% -% 484 1.1% N/A -% -%
BYD N/A -% N/A -% -% N/A -% N/A -% -%
Changan N/A -% N/A -% -% N/A -% N/A -% -%
Total 9,790 100.0% 9,175 100.0% 6.7% 43,664 100.0% 37,079 100.0% 17.8%

Source: Toyota Motor Thailand Co., Ltd. (TMT)
*1 Data announced by TMT.
* Y-o-Y is based on MarkLines' own calculation.

 

Thailand - Top 10 best selling models
- Maker/Brand Model Apr. 2024 Apr. 2023 Y-o-Y Jan.-Apr.
2024
Jan.-Apr.
2023
Y-o-Y
1 Toyota Hilux
6,151
8,906
-30.9%
31,366
45,063
-30.4%
2 Isuzu D-Max
5,954
10,622
-43.9%
28,729
56,255
-48.9%
3 Toyota Yaris ATIV
3,798
5,053
-24.8%
18,784
21,289
-11.8%
4 Toyota Yaris Cross
3,058
-
-%
12,822
-
-%
5 Honda City
2,656
3,381
-21.4%
13,523
17,865
-24.3%
6 Honda HR-V
1,862
2,058
-9.5%
9,519
8,696
9.5%
7 Ford Ford Ranger
1,401
2,200
-36.3%
7,626
12,059
-36.8%
8 Toyota Corolla Cross
1,303
1,500
-13.1%
6,105
8,108
-24.7%
9 Toyota Fortuner
1,252
2,124
-41.1%
6,421
11,120
-42.3%
10 Isuzu MU-X
1,075
1,971
-45.5%
5,374
9,192
-41.5%
Source: MarkLines Data Center



More detailed statistics for Thailand

PAGETOP

Flash report, March 2024

Apr 25, 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.

March vehicle sales in Thailand down 29.8%, production down 23.1% (detailed report)
According to the Federation of Thai Industries (FTI), March vehicle sales in Thailand decreased 29.8% year over year (YoY) to 56,099 units from the same period in 2023. Sales of passenger cars, pure pickups, PPVs, and 5-10-ton trucks all recorded a double-digit YoY drop. In the first quarter of 2024, vehicle sales reached 163,756 units, down 24.6% YoY. According to the FTI, the auto loan rejections were high. The negative factors included (i) financial institutions’ stricter auto loan criteria, (ii) high household debt, (iii) a weak economy, and (iv) a delay in the 2024 fiscal budget that hampered many activities of the public and private segments. The FTI expected to see the local auto market recover in the second half of 2024.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in March, Toyota (including Lexus) was down 16.1% to 21,582 units. Isuzu was down 48.3% to 8,861 units and Honda was down 19.3% to 8,219 units. Mitsubishi is in the 4th position with 26.0% down to 3,012 units and Ford sales were down 57.2% to 1,745 units. Among other Chinese brands, MG was ranked 6th with 11.0% down to 1,707 units, while BYD was ranked 7th with 53.5% down to 1,132 units.
By body type, passenger cars were down 25.1% year over year to 22,342 units. Commercial vehicle sales were down 32.6% to 33,757 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 45.5% to 19,648 units.
The Toyota Hilux was the bestselling model (registration base) in March with 7,790 units, followed by Isuzu D-Max with 6,628 units, Toyota Yaris ATIV with 4,297 units, Toyota Yaris Cross with 3,607 units and Honda City with 3,193 units.
The FTI announced that new vehicle production in March was 138,331 units, down 23.1% YoY. Vehicle production for domestic sales and exports in March 2024 contributed 33.6% and 66.4% respectively. In January-March 2024, vehicle production decreased 18.4% to 414,123 units.
Vehicle exports in March 2024 were 95,089 units, down 3.3% YoY. The FTI also revealed that exports of HEVs reached 4,888 units in March. Despite a YoY decline, the FTI pointed out that monthly vehicle exports figure of over 90,000 units is considered great. Exports to countries that are Thailand’s trading partners, such as Australia, the Philippines, the U.S., Mexico, the UK, etc. increased. However, international conflicts must be monitored, as they may hit vehicle exports. The vehicle export value in March was THB 67.9 billion, up 12.0% year over year. Vehicle exports in the first 3 months of 2024 reached 270,575 units, down 1.2% YoY.


Thailand - Production and Retail Sales of new vehicles

Mar.
2024
Growth
Y-o-Y (%)
Jan.-Mar.
2024
Growth
YTD (%)
Production 138,331 -23.1% 414,123 -18.4%
Domestic Sales 56,099 -29.8% 163,756 -24.6%
Export (CBU) 95,089 -3.3% 270,525 -1.2%

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

New vehicle retail sales by major makers

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Mar. Share Mar. Share Jan.-Mar. Share Jan.-Mar. Share
Toyota * 21,582 38.5% 25,713 32.2% -16.1% 58,810 35.9% 75,121 34.6% -21.7%
Isuzu 8,861 15.8% 17,133 21.4% -48.3% 24,444 14.9% 47,159 21.7% -48.2%
Honda 8,219 14.7% 10,185 12.7% -19.3% 25,104 15.3% 25,961 12.0% -3.3%
Mitsubishi 3,012 5.4% 4,072 5.1% -26.0% 7,587 4.6% 10,962 5.0% -30.8%
Ford 1,745 3.1% 4,077 5.1% -57.2% 5,934 3.6% 11,047 5.1% -46.3%
MG 1,707 3.0% 1,919 2.4% -11.0% 4,832 3.0% 6,375 2.9% -24.2%
BYD 1,132 2.0% 2,434 3.0% -53.5% 10,047 6.1% 5,542 2.6% 81.3%
Suzuki 1,004 1.8% 1,304 1.6% -23.0% 1,979 1.2% 3,323 1.5% -40.4%
Nissan 927 1.7% 1,858 2.3% -50.1% 2,875 1.8% 5,074 2.3% -43.3%
Mazda 921 1.6% 1,707 2.1% -46.0% 2,431 1.5% 4,420 2.0% -45.0%
Others 6,989 12.5% 9,541 11.9% -26.7% 19,713 12.0% 22,089 10.2% -10.8%
Total 56,099 100.0% 79,943 100.0% -29.8% 163,756 100.0% 217,073 100.0% -24.6%
* Includes sales volume of the Lexus.

Passenger Cars
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Mar. Share Mar. Share Jan.-Mar. Share Jan.-Mar. Share
Toyota * 6,606 29.6% 9,953 33.4% -33.6% 16,631 25.3% 28,080 36.2% -40.8%
Honda 4,869 21.8% 7,053 23.6% -31.0% 14,198 21.6% 17,786 22.9% -20.2%
Mitsubishi 2,039 9.1% 1,789 6.0% 14.0% 4,954 7.6% 5,218 6.7% -5.1%
MG 1,393 6.2% 1,170 3.9% 19.1% 3,830 5.8% 3,976 5.1% -3.7%
Suzuki 932 4.2% 1,089 3.7% -14.4% 1,696 2.6% 2,645 3.4% -35.9%
BYD 891 4.0% - -% -% 7,975 12.2% - -% -%
Mazda 500 2.2% 862 2.9% -42.0% 1,270 1.9% 2,045 2.6% -37.9%
Nissan 385 1.7% 676 2.3% -43.0% 1,081 1.6% 1,740 2.2% -37.9%
Neta 376 1.7% 840 2.8% -55.2% 1,313 2.0% 2,405 3.1% -45.4%
GWM 345 1.5% 86 0.3% 301.2% 1,073 1.6% 390 0.5% 175.1%
Hyundai 206 0.9% - -% -% 350 0.5% - -% -%
Porsche 185 0.8% 133 0.4% 39.1% 495 0.8% 398 0.5% 24.4%
KIA 80 0.4% 166 0.6% -51.8% 194 0.3% 303 0.4% -36.0%
Others 3,535 15.8% 6,018 20.2% -41.3% 10,555 16.1% 12,580 16.2% -16.1%
Total 22,342 100.0% 29,835 100.0% -25.1% 65,615 100.0% 77,566 100.0% -15.4%
* Includes sales volume of the Lexus.

Commercial vehicles (incl. 1-ton pickups and SUVs)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Mar. Share Mar. Share Jan.-Mar. Share Jan.-Mar. Share
Toyota * 14,976 44.4% 15,760 31.5% -5.0% 42,179 43.0% 47,041 33.7% -10.3%
Isuzu 8,861 26.2% 17,133 34.2% -48.3% 24,444 24.9% 47,159 33.8% -48.2%
Honda 3,350 9.9% 3,132 6.3% 7.0% 10,906 11.1% 8,175 5.9% 33.4%
Ford 1,744 5.2% 4,074 8.1% -57.2% 5,931 6.0% 11,040 7.9% -46.3%
Mitsubishi 973 2.9% 2,283 4.6% -57.4% 2,633 2.7% 5,744 4.1% -54.2%
Nissan 542 1.6% 1,182 2.4% -54.1% 1,794 1.8% 3,334 2.4% -46.2%
Hino 522 1.5% 1,273 2.5% -59.0% 1,527 1.6% 2,546 1.8% -40.0%
Mazda 421 1.2% 845 1.7% -50.2% 1,161 1.2% 2,375 1.7% -51.1%
GWM 381 1.1% 535 1.1% -28.8% 1,266 1.3% 1,839 1.3% -31.2%
MG 314 0.9% 749 1.5% -58.1% 1,002 1.0% 2,399 1.7% -58.2%
Hyundai 288 0.9% 209 0.4% 37.8% 768 0.8% 977 0.7% -21.4%
BYD 241 0.7% 2,434 4.9% -90.1% 2,072 2.1% 5,542 4.0% -62.6%
Subaru 86 0.3% 193 0.4% -55.4% 246 0.3% 471 0.3% -47.8%
CP Foton 77 0.2% 46 0.1% 67.4% 121 0.1% 78 0.1% 55.1%
Suzuki 72 0.2% 215 0.4% -66.5% 283 0.3% 678 0.5% -58.3%
Peugeot 30 0.1% 40 0.1% -25.0% 75 0.1% 101 0.1% -25.7%
Others 879 2.6% 5 0.0% 17480.0% 1,733 1.8% 8 0.0% 21562.5%
Total 33,757 100.0% 50,108 100.0% -32.6% 98,141 100.0% 139,507 100.0% -29.7%
* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Mar. Share Mar. Share Jan.-Mar. Share Jan.-Mar. Share
Toyota 8,629 43.9% 13,103 36.3% -34.1% 25,248 44.7% 39,287 38.7% -35.7%
Isuzu 7,865 40.0% 15,845 43.9% -50.4% 21,481 38.1% 43,522 42.9% -50.6%
Ford 1,744 8.9% 4,074 11.3% -57.2% 5,931 10.5% 11,040 10.9% -46.3%
Mitsubishi 972 4.9% 2,271 6.3% -57.2% 2,624 4.7% 5,717 5.6% -54.1%
Nissan 325 1.7% 568 1.6% -42.8% 872 1.5% 1,336 1.3% -34.7%
Mazda 80 0.4% 111 0.3% -27.9% 147 0.3% 256 0.3% -42.6%
MG 33 0.2% 94 0.3% -64.9% 122 0.2% 314 0.3% -61.1%
Total 19,648 100.0% 36,066 100.0% -45.5% 56,425 100.0% 101,472 100.0% -44.4%

SUV
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Mar. *1 Share Mar.*1 Share Jan.-Mar. *1 Share Jan.-Mar.*1 Share
Toyota * 5,502 48.3% 1,853 18.3% 196.9% 14,756 43.6% 5,512 19.8% 167.7%
Honda 3,350 29.4% 3,132 30.9% 7.0% 10,906 32.2% 8,175 29.3% 33.4%
GAC 484 4.3% - -% -% 484 1.4% - -% -%
GWM 381 3.3% 535 5.3% -28.8% 1,266 3.7% 1,839 6.6% -31.2%
Mazda 341 3.0% 734 7.2% -53.5% 1,014 3.0% 2,119 7.6% -52.1%
MG 281 2.5% 655 6.5% -57.1% 880 2.6% 2,085 7.5% -57.8%
Nissan 217 1.9% 538 5.3% -59.7% 920 2.7% 1,875 6.7% -50.9%
Subaru 86 0.8% 193 1.9% -55.4% 246 0.7% 471 1.7% -47.8%
Hyundai 77 0.7% 4 0.0% 1825.0% 123 0.4% 155 0.6% -20.6%
Peugeot 30 0.3% 40 0.4% -25.0% 75 0.2% 101 0.4% -25.7%
Others 2 0.0% 13 0.1% -84.6% 25 0.1% 30 0.1% -16.7%
BYD N/A -% N/A -% -% N/A -% N/A -% -%
Changan N/A -% N/A -% -% N/A -% N/A -% -%
Total 11,387 100.0% 10,131 100.0% 12.4% 33,874 100.0% 27,904 100.0% 21.4%
Source: Toyota Motor Thailand Co., Ltd. (TMT)
*1 Data announced by TMT.
* Y-o-Y is based on MarkLines' own calculation.

Thailand - Top 10 best selling models
- Maker/Brand Model Mar. 2024 Mar. 2023 Y-o-Y Jan.-Mar.
2024
Jan.-Mar.
2023
Y-o-Y
1 Toyota Hilux 7,790 11,628 -33.0% 25,215 36,157 -30.3%
2 Isuzu D-Max 6,628 14,795 -55.2% 22,775 45,633 -50.1%
3 Toyota Yaris ATIV 4,297 6,724 -36.1% 14,986 16,236 -7.7%
4 Toyota Yaris Cross 3,607 - -% 9,764 - -%
5 Honda City 3,193 4,930 -35.2% 10,867 14,484 -25.0%
6 Honda HR-V 2,339 2,663 -12.2% 7,657 6,638 15.4%
7 Ford Ford Ranger 1,775 3,144 -43.5% 6,225 9,859 -36.9%
8 Toyota Fortuner 1,547 2,841 -45.5% 5,169 8,996 -42.5%
9 Toyota Corolla Cross 1,322 2,270 -41.8% 4,802 6,608 -27.3%
10 Isuzu MU-X 1,175 2,454 -52.1% 4,299 7,221 -40.5%
Source: MarkLines Data Center



More detailed statistics for Thailand

PAGETOP

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.
2024
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

New vehicle retail sales by major makers

Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Feb. Share Feb. Share Jan.-Feb. Share Jan.-Feb. Share
Toyota * 19,702 37.3% 25,612 35.8% -23.1% 37,228 34.6% 49,408 36.0% -24.7%
Honda 8,587 16.3% 8,705 12.2% -1.4% 16,885 15.7% 15,776 11.5% 7.0%
Isuzu 7,653 14.5% 15,375 21.5% -50.2% 15,583 14.5% 30,026 21.9% -48.1%
Mitsubishi 2,655 5.0% 3,606 5.0% -26.4% 4,575 4.2% 6,890 5.0% -33.6%
Ford 2,206 4.2% 3,593 5.0% -38.6% 4,189 3.9% 6,970 5.1% -39.9%
MG 1,614 3.1% 2,223 3.1% -27.4% 3,125 2.9% 4,456 3.2% -29.9%
BYD 1,109 2.1% 2,068 2.9% -46.4% 8,915 8.3% 3,108 2.3% 186.8%
Nissan 945 1.8% 1,516 2.1% -37.7% 1,948 1.8% 3,216 2.3% -39.4%
GWM 943 1.8% 775 1.1% 21.7% 1,613 1.5% 1,608 1.2% 0.3%
Mazda 722 1.4% 1,357 1.9% -46.8% 1,510 1.4% 2,713 2.0% -44.3%
Others 6,707 12.7% 6,721 9.4% -0.2% 12,086 11.2% 12,959 9.5% -6.7%
Total 52,843 100.0% 71,551 100.0% -26.1% 107,657 100.0% 137,130 100.0% -21.5%
* Includes sales volume of the Lexus.

Passenger Cars
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Feb. Share Feb. Share Jan.-Feb. Share Jan.-Feb. Share
Toyota * 4,880 24.6% 9,463 38.1% -48.4% 10,025 23.2% 18,127 38.0% -44.7%
Honda 4,721 23.8% 5,660 22.8% -16.6% 9,329 21.6% 10,733 22.5% -13.1%
Mitsubishi 1,705 8.6% 1,873 7.5% -9.0% 2,915 6.7% 3,429 7.2% -15.0%
MG 1,271 6.4% 1,324 5.3% -4.0% 2,437 5.6% 2,806 5.9% -13.2%
BYD 870 4.4% - -% -% 7,084 16.4% - -% -%
Neta 698 3.5% 652 2.6% 7.1% 937 2.2% 1,565 3.3% -40.1%
GWM 483 2.4% 124 0.5% 289.5% 728 1.7% 304 0.6% 139.5%
Suzuki 379 1.9% 781 3.1% -51.5% 764 1.8% 1,556 3.3% -50.9%
Mazda 371 1.9% 646 2.6% -42.6% 770 1.8% 1,183 2.5% -34.9%
Nissan 352 1.8% 557 2.2% -36.8% 696 1.6% 1,064 2.2% -34.6%
Porsche 224 1.1% 121 0.5% 85.1% 310 0.7% 265 0.6% 17.0%
Hyundai 58 0.3% - -% -% 144 0.3% - -% -%
KIA 36 0.2% 102 0.4% -64.7% 114 0.3% 137 0.3% -16.8%
Others 3,813 19.2% 3,564 14.3% 7.0% 7,020 16.2% 6,562 13.7% 7.0%
Total 19,861 100.0% 24,867 100.0% -20.1% 43,273 100.0% 47,731 100.0% -9.3%
* Includes sales volume of the Lexus.

Commercial vehicles (incl. 1-ton pickups and SUVs)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Feb. Share Feb. Share Jan.-Feb. Share Jan.-Feb. Share
Toyota * 14,822 44.9% 16,149 34.6% -8.2% 27,203 42.3% 31,281 35.0% -13.0%
Isuzu 7,653 23.2% 15,375 32.9% -50.2% 15,583 24.2% 30,026 33.6% -48.1%
Honda 3,866 11.7% 3,045 6.5% 27.0% 7,556 11.7% 5,043 5.6% 49.8%
Ford 2,205 6.7% 3,590 7.7% -38.6% 4,187 6.5% 6,966 7.8% -39.9%
Mitsubishi 950 2.9% 1,733 3.7% -45.2% 1,660 2.6% 3,461 3.9% -52.0%
Nissan 593 1.8% 959 2.1% -38.2% 1,252 1.9% 2,152 2.4% -41.8%
Hino 477 1.4% 800 1.7% -40.4% 1,005 1.6% 1,273 1.4% -21.1%
GWM 460 1.4% 651 1.4% -29.3% 885 1.4% 1,304 1.5% -32.1%
Mazda 351 1.1% 711 1.5% -50.6% 740 1.1% 1,530 1.7% -51.6%
MG 343 1.0% 899 1.9% -61.8% 688 1.1% 1,650 1.8% -58.3%
BYD 239 0.7% 2,068 4.4% -88.4% 1,831 2.8% 3,108 3.5% -41.1%
Hyundai 214 0.6% 299 0.6% -28.4% 480 0.7% 768 0.9% -37.5%
Suzuki 126 0.4% 225 0.5% -44.0% 211 0.3% 463 0.5% -54.4%
Subaru 99 0.3% 139 0.3% -28.8% 160 0.2% 278 0.3% -42.4%
CP Foton 32 0.1% 14 0.0% 128.6% 44 0.1% 32 0.0% 37.5%
Peugeot 25 0.1% 26 0.1% -3.8% 45 0.1% 61 0.1% -26.2%
Others 527 1.6% 1 0.0% 52600.0% 854 1.3% 3 0.0% 28366.7%
Total 32,982 100.0% 46,684 100.0% -29.4% 64,384 100.0% 89,399 100.0% -28.0%
* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Feb. Share Feb. Share Jan.-Feb. Share Jan.-Feb. Share
Toyota 8,661 46.0% 13,582 40.4% -36.2% 16,619 45.2% 26,184 40.0% -36.5%
Isuzu 6,690 35.5% 14,134 42.0% -52.7% 13,616 37.0% 27,677 42.3% -50.8%
Ford 2,205 11.7% 3,590 10.7% -38.6% 4,187 11.4% 6,966 10.7% -39.9%
Mitsubishi 949 5.0% 1,729 5.1% -45.1% 1,652 4.5% 3,446 5.3% -52.1%
Nissan 271 1.4% 401 1.2% -32.4% 547 1.5% 768 1.2% -28.8%
MG 39 0.2% 126 0.4% -69.0% 89 0.2% 220 0.3% -59.5%
Mazda 24 0.1% 73 0.2% -67.1% 67 0.2% 145 0.2% -53.8%
Total 18,839 100.0% 33,635 100.0% -44.0% 36,777 100.0% 65,406 100.0% -43.8%

SUV
Maker/Brand 2024 2023 Y-o-Y 2024 2023 Y-o-Y
Feb. *1 Share Feb. *1 Share Jan.-Feb. *1 Share Jan.-Feb. *1 Share
Toyota * 5,469 46.8% 1,937 19.7% 182.3% 9,254 41.2% 3,659 20.6% 152.9%
Honda 3,866 33.1% 3,045 30.9% 27.0% 7,556 33.6% 5,043 28.4% 49.8%
GWM 460 3.9% 651 6.6% -29.3% 885 3.9% 1,304 7.3% -32.1%
Mazda 327 2.8% 638 6.5% -48.7% 673 3.0% 1,385 7.8% -51.4%
Nissan 321 2.7% 527 5.4% -39.1% 703 3.1% 1,337 7.5% -47.4%
MG 304 2.6% 773 7.9% -60.7% 599 2.7% 1,430 8.0% -58.1%
Subaru 99 0.8% 139 1.4% -28.8% 160 0.7% 278 1.6% -42.4%
Hyundai 25 0.2% 32 0.3% -21.9% 46 0.2% 151 0.8% -69.5%
Peugeot 25 0.2% 26 0.3% -3.8% 45 0.2% 61 0.3% -26.2%
Suzuki 12 0.1% - -% -% 13 0.1% - -% -%
Others 1 0.0% 5 0.1% -80.0% 10 0.0% 17 0.1% -41.2%
BYD N/A -% N/A -% -% N/A -% N/A -% -%
Changan N/A -% N/A -% -% N/A -% N/A -% -%
GAC N/A -% N/A -% -% N/A -% N/A -% -%
Total 11,675 100.0% 9,841 100.0% 18.6% 22,487 100.0% 17,773 100.0% 26.5%
Source: Toyota Motor Thailand Co., Ltd. (TMT)
*1 Data announced by TMT.
* Y-o-Y is based on MarkLines' own calculation.

Thailand - Top 10 best selling models
- Maker/Brand Model Feb. 2024 Feb. 2023 Y-o-Y Jan.-Feb.
2024
Jan.-Feb.
2023
Y-o-Y
1 Toyota Hilux 8,071 11,513 -29.9% 17,425 24,529 -29.0%
2 Isuzu D-Max 6,822 14,786 -53.9% 16,147 30,838 -47.6%
3 Toyota Yaris ATIV 4,741 4,958 -4.4% 10,689 9,512 12.4%
4 Honda City 3,591 4,820 -25.5% 7,674 9,554 -19.7%
5 Toyota Yaris Cross 2,934 - -% 6,157 - -%
6 Honda HR-V 2,574 2,008 28.2% 5,318 3,975 33.8%
7 Ford Ford Ranger 2,094 3,476 -39.8% 4,450 6,715 -33.7%
8 Toyota Fortuner 1,650 3,065 -46.2% 3,622 6,155 -41.2%
9 Honda CR-V 1,438 188 664.9% 3,494 398 777.9%
10 Toyota Corolla Cross 1,393 2,186 -36.3% 3,480 4,338 -19.8%
Source: MarkLines Data Center


More detailed statistics for Thailand

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Flash report, January 2024

Feb 27, 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

New vehicle sales by major makers

Maker/Brand 2024 2023 Y-o-Y
Jan. Share Jan. Share
Toyota * 17,526 32.0% 23,796 36.3% -26.3%
Honda 8,298 15.1% 7,071 10.8% 17.4%
Isuzu 7,930 14.5% 14,651 22.3% -45.9%
BYD 7,806 14.2% 1,040 1.6% 650.6%
Ford 1,983 3.6% 3,377 5.1% -41.3%
Mitsubishi 1,920 3.5% 3,284 5.0% -41.5%
MG 1,511 2.8% 2,233 3.4% -32.3%
Nissan 1,003 1.8% 1,700 2.6% -41.0%
Mazda 788 1.4% 1,356 2.1% -41.9%
GWM 670 1.2% 833 1.3% -19.6%
Others 5,379 9.8% 6,238 9.5% -13.8%
Total 54,814 100.0% 65,579 100.0% -16.4%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand 2024 2023 Y-o-Y
Jan. Share Jan. Share
BYD 6,214 26.5% - -% -%
Toyota * 5,145 22.0% 8,664 37.9% -40.6%
Honda 4,608 19.7% 5,073 22.2% -9.2%
Mitsubishi 1,210 5.2% 1,556 6.8% -22.2%
MG 1,166 5.0% 1,482 6.5% -21.3%
Mazda 399 1.7% 537 2.3% -25.7%
Suzuki 385 1.6% 775 3.4% -50.3%
Nissan 344 1.5% 507 2.2% -32.1%
GWM 245 1.0% 180 0.8% 36.1%
Neta 239 1.0% 913 4.0% -73.8%
Porsche 86 0.4% 144 0.6% -40.3%
Hyundai 86 0.4% - -% -%
KIA 78 0.3% 35 0.2% 122.9%
Others 3,207 13.7% 2,998 13.1% 7.0%
Total 23,412 100.0% 22,864 100.0% 2.4%

* Includes sales volume of the Lexus.

Commercial vehicles (incl. 1-ton pickups and SUVs)

Maker/Brand 2024 2023 Y-o-Y
Jan. Share Jan. Share
Toyota * 12,381 39.4% 15,132 35.4% -18.2%
Isuzu 7,930 25.3% 14,651 34.3% -45.9%
Honda 3,690 11.8% 1,998 4.7% 84.7%
Ford 1,982 6.3% 3,376 7.9% -41.3%
BYD 1,592 5.1% 1,040 2.4% 53.1%
Mitsubishi 710 2.3% 1,728 4.0% -58.9%
Nissan 659 2.1% 1,193 2.8% -44.8%
Hino 528 1.7% 473 1.1% 11.6%
GWM 425 1.4% 653 1.5% -34.9%
Mazda 389 1.2% 819 1.9% -52.5%
MG 345 1.1% 751 1.8% -54.1%
Hyundai 266 0.8% 469 1.1% -43.3%
Suzuki 85 0.3% 238 0.6% -64.3%
Subaru 61 0.2% 139 0.3% -56.1%
Peugeot 20 0.1% 35 0.1% -42.9%
CP Foton 12 0.0% 18 0.0% -33.3%
Others 327 1.0% 2 0.0% 16250.0%
Total 31,402 100.0% 42,715 100.0% -26.5%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand 2024 2023 Y-o-Y
Jan. Share Jan. Share
Toyota 7,958 44.4% 12,602 39.7% -36.9%
Isuzu 6,926 38.6% 13,543 42.6% -48.9%
Ford 1,982 11.0% 3,376 10.6% -41.3%
Mitsubishi 703 3.9% 1,717 5.4% -59.1%
Nissan 276 1.5% 367 1.2% -24.8%
MG 50 0.3% 94 0.3% -46.8%
Mazda 43 0.2% 72 0.2% -40.3%
Total 17,938 100.0% 31,771 100.0% -43.5%


SUV

Maker/Brand 2024 2023 Y-o-Y
Jan. Share Jan. Share
Toyota 3,785 35.0% 1,722 21.7% 119.8%
Honda 3,690 34.1% 1,998 25.2% 84.7%
GWM 425 3.9% 653 8.2% -34.9%
Nissan 382 3.5% 810 10.2% -52.8%
Mazda 346 3.2% 747 9.4% -53.7%
MG 295 2.7% 657 8.3% -55.1%
Subaru 61 0.6% 139 1.8% -56.1%
Hyundai 21 0.2% 119 1.5% -82.4%
Peugeot 20 0.2% 35 0.4% -42.9%
BYD N/A -% N/A -% -%
GAC N/A -% N/A -% -%
Others 10 0.1% 12 0.2% -16.7%
Total *1 10,812 100.0% 7,932 100.0% 36.3%

Source: Toyota Motor Thailand Co., Ltd. (TMT)
*1 Data announced by TMT.
* Y-o-Y is based on MarkLines' own calculation.

Thailand - Top 10 best selling models

- Maker/Brand Model Jan. 2024 Jan. 2023 Y-o-Y
1 Toyota Hilux 9,354 13,016 -28.1%
2 Isuzu D-Max 9,325 16,052 -41.9%
3 Toyota Yaris ATIV 5,948 4,554 30.6%
4 Honda City 4,083 4,734 -13.8%
5 Toyota Yaris Cross 3,223 - -%
6 BYD Auto Dolphin 3,175 - -%
7 BYD Auto Haibao/Seal 3,008 - -%
8 Honda HR-V 2,744 1,967 39.5%
9 Ford Ford Ranger 2,356 3,239 -27.3%
10 Toyota Corolla Cross 2,087 2,152 -3.0%

Source: MarkLines Data Center

More detailed statistics for Thailand

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