Thailand - Automotive Sales volume, 2023

Flash report, December 2023

Jan 29, 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.

2023 vehicle sales in Thailand down 8.7%, production down 2.2% (detailed report)
According to the Federation of Thai Industries (FTI), December vehicle sales in Thailand decreased 17.5% year over year to 68,326 units. The negative factors mentioned by the FTI included the increased auto loan rejection rates, especially of pickup trucks, with stringent requirements of financial institutions. Household debt level has already exceeded 90% of the country's GDP. There was also an economic slowdown and a delay in the 2024 fiscal budget. 2023 full year vehicle sales in Thailand decreased 8.7% year over year to 775,780 units.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in 2023, Toyota was down 7.9% to 265,949 units. Isuzu was down 28.5% to 151,935 units and Honda was up 13.9% to 94,336 units. Ford sales were down 16.4% to 36,483 units, and Mitsubishi sales were down 35.2% to 32,668 units. Among Chinese makers, BYD was 30,432 units、MG was up 0.1% to 27,311 units and Neta was 13,836 units.
By body type sales in 2023, passenger cars were up 10.4% year over year to 292,505 units, while commercial vehicles were down 17.3% to 483,275 units. Pickup sales included in the commercial vehicle sales were down 28.5% to 325,024 units.
The Isuzu D-Max was the bestselling model in 2023 with 127,290 units, followed by Toyota Hilux with 114,585 units, Toyota Yaris ATIV with 55,527 units, Honda City with 43,262 units and Ford Ranger with 28,848 units.
New vehicle production in December decreased 15.8% to 133,621 units. Vehicle production for domestic sales and exports in December contributed 38.2% and 61.8% respectively. In December 2023, production of 1ton pickups witnessed a 21.4% drop YoY amid the decline in local sales of pickups. Moreover, passenger cars production in December also saw a 7.9% drop YoY. The FTI pointed out that this was also attributable to growth in EV imports. In 2023, vehicle production missed the revised target of 1.85 million units as it stood at 1,841,686 units, down 2.2% YoY.
Vehicle exports in December drops 19.1% to 90,305 units. The 2023 vehicle export increased 11.7% to 1,117,539 units valued at THB 720 billion, up 15.3%.
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 Retail Sales of new vehicles

	Dec. 2023	Growth Y-o-Y (%)	Jan.-Dec. 2023	Growth YTD (%)
Production	133,621	-15.8%	1,841,686	-2.2%
Domestic Sales	68,326	-17.5%	775,780	-8.7%
Export (CBU)	90,305	-19.1%	1,117,539	11.7%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	24,105	35.3%	30,197	36.5%	-20.2%	265,949	34.3%	288,809	34.0%	-7.9%
Isuzu	10,264	15.0%	18,216	22.0%	-43.7%	151,935	19.6%	212,491	25.0%	-28.5%
Honda	9,820	14.4%	8,324	10.1%	18.0%	94,336	12.2%	82,842	9.8%	13.9%
Ford	2,828	4.1%	5,549	6.7%	-49.0%	36,483	4.7%	43,628	5.1%	-16.4%
Mitsubishi	2,202	3.2%	4,204	5.1%	-47.6%	32,668	4.2%	50,385	5.9%	-35.2%
BYD	4,055	5.9%	312	0.4%	1199.7%	30,432	3.9%	312	0.0%	9653.8%
MG	2,518	3.7%	2,757	3.3%	-8.7%	27,311	3.5%	27,293	3.2%	0.1%
Mazda	1,033	1.5%	1,579	1.9%	-34.6%	16,544	2.1%	31,638	3.7%	-47.7%
Nissan	1,387	2.0%	2,164	2.6%	-35.9%	16,423	2.1%	22,521	2.7%	-27.1%
Neta	1,779	2.6%	1,019	1.2%	74.6%	13,836	1.8%	1,019	0.1%	1257.8%
Others	8,335	12.2%	8,478	10.2%	-1.7%	89,863	11.6%	88,450	10.4%	1.6%
Total	68,326	100.0%	82,799	100.0%	-17.5%	775,780	100.0%	849,388	100.0%	-8.7%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	7,258	27.8%	8,941	36.2%	-18.8%	99,292	33.9%	82,738	31.2%	20.0%
Honda	5,426	20.8%	5,786	23.4%	-6.2%	56,723	19.4%	61,665	23.3%	-8.0%
MG	1,742	6.7%	1,569	6.4%	11.0%	19,049	6.5%	14,183	5.4%	34.3%
Mitsubishi	1,139	4.4%	1,824	7.4%	-37.6%	15,430	5.3%	21,157	8.0%	-27.1%
Neta	1,779	6.8%	1,019	4.1%	74.6%	13,836	4.7%	1,019	0.4%	1257.8%
BYD	3,334	12.8%	-	-%	-%	11,219	3.8%	-	-%	-%
Suzuki	778	3.0%	1,476	6.0%	-47.3%	9,668	3.3%	16,721	6.3%	-42.2%
Mazda	554	2.1%	523	2.1%	5.9%	8,728	3.0%	17,810	6.7%	-51.0%
Nissan	425	1.6%	631	2.6%	-32.6%	6,153	2.1%	10,933	4.1%	-43.7%
GWM	343	1.3%	581	2.4%	-41.0%	6,046	2.1%	4,326	1.6%	39.8%
Hyundai	210	0.8%	0	0.0%	-%	1,521	0.5%	0	0.0%	-%
Porsche	141	0.5%	133	0.5%	6.0%	1,445	0.5%	1,025	0.4%	41.0%
KIA	154	0.6%	256	1.0%	-39.8%	1,242	0.4%	1,447	0.5%	-14.2%
Subaru	3	0.0%	4	0.0%	-25.0%	84	0.0%	25	0.0%	236.0%
Ford	3	0.0%	6	0.0%	-50.0%	22	0.0%	46	0.0%	-52.2%
Others	2,852	10.9%	1,949	7.9%	46.3%	42,047	14.4%	31,974	12.1%	31.5%
Total	26,141	100.0%	24,698	100.0%	5.8%	292,505	100.0%	265,069	100.0%	10.4%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	16,847	39.9%	21,256	36.6%	-20.7%	166,657	34.5%	206,071	35.3%	-19.1%
Isuzu	10,264	24.3%	18,216	31.4%	-43.7%	151,935	31.4%	212,491	36.4%	-28.5%
Honda	4,394	10.4%	2,538	4.4%	73.1%	37,613	7.8%	21,177	3.6%	77.6%
Ford	2,825	6.7%	5,543	9.5%	-49.0%	36,461	7.5%	43,582	7.5%	-16.3%
BYD	721	1.7%	312	0.5%	131.1%	19,213	4.0%	312	0.1%	6058.0%
Mitsubishi	1,063	2.5%	2,380	4.1%	-55.3%	17,238	3.6%	29,228	5.0%	-41.0%
Hino	2,116	5.0%	1,636	2.8%	29.3%	11,763	2.4%	14,339	2.5%	-18.0%
Nissan	962	2.3%	1,533	2.6%	-37.2%	10,270	2.1%	11,588	2.0%	-11.4%
MG	776	1.8%	1,188	2.0%	-34.7%	8,262	1.7%	13,110	2.2%	-37.0%
Mazda	479	1.1%	1,056	1.8%	-54.6%	7,816	1.6%	13,828	2.4%	-43.5%
GWM	907	2.2%	1,029	1.8%	-11.9%	6,993	1.4%	7,290	1.2%	-4.1%
Hyundai	439	1.0%	806	1.4%	-45.5%	4,029	0.8%	4,686	0.8%	-14.0%
Suzuki	147	0.3%	196	0.3%	-25.0%	2,483	0.5%	3,362	0.6%	-26.1%
Subaru	124	0.3%	313	0.5%	-60.4%	1,598	0.3%	2,257	0.4%	-29.2%
Peugeot	60	0.1%	48	0.1%	25.0%	427	0.1%	590	0.1%	-27.6%
CP Foton	26	0.1%	48	0.1%	-45.8%	414	0.1%	390	0.1%	6.2%
GAC	35	0.1%	-	-%	-%	88	0.0%	-	-%	-%
KIA	0	0.0%	0	0.0%	-%	11	0.0%	8	0.0%	37.5%
KG Mobility / Ssangyong	0	0.0%	3	0.0%	-100.0%	4	0.0%	10	0.0%	-60.0%
Total	42,185	100.0%	58,101	100.0%	-27.4%	483,275	100.0%	584,319	100.0%	-17.3%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Isuzu	9,090	37.8%	16,638	38.4%	-45.4%	136,350	42.0%	195,945	43.1%	-30.4%
Toyota	10,614	44.2%	18,083	41.7%	-41.3%	128,689	39.6%	175,786	38.6%	-26.8%
Ford	2,825	11.8%	5,543	12.8%	-49.0%	36,461	11.2%	43,582	9.6%	-16.3%
Mitsubishi	1,063	4.4%	2,360	5.4%	-55.0%	17,142	5.3%	28,978	6.4%	-40.8%
Nissan	353	1.5%	429	1.0%	-17.7%	4,618	1.4%	6,516	1.4%	-29.1%
MG	48	0.2%	142	0.3%	-66.2%	930	0.3%	2,562	0.6%	-63.7%
Mazda	30	0.1%	127	0.3%	-76.4%	834	0.3%	1,506	0.3%	-44.6%
Total	24,023	100.0%	43,322	100.0%	-44.5%	325,024	100.0%	454,875	100.0%	-28.5%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Dec. *1	Share	Dec. *1	Share		Jan.-Dec. *1	Share	Jan.-Dec. *1	Share
Honda	4,394	32.9%	2,538	25.5%	73.1%	37,613	32.9%	21,177	25.5%	77.6%
Toyota	5,244	39.3%	2,254	22.6%	132.7%	28,160	24.6%	22,644	27.3%	24.4%
MG	728	5.4%	1,046	10.5%	-30.4%	7,332	6.4%	10,497	12.7%	-30.2%
GWM	907	6.8%	1,029	10.3%	-11.9%	6,993	6.1%	7,290	8.8%	-4.1%
Mazda	449	3.4%	929	9.3%	-51.7%	6,982	6.1%	12,322	14.9%	-43.3%
Nissan	608	4.6%	1,085	10.9%	-44.0%	5,487	4.8%	4,909	5.9%	11.8%
Subaru	124	0.9%	313	3.1%	-60.4%	1,598	1.4%	2,257	2.7%	-29.2%
Hyundai	80	0.6%	389	3.9%	-79.4%	443	0.4%	666	0.8%	-33.5%
Peugeot	60	0.4%	48	0.5%	25.0%	427	0.4%	560	0.7%	-23.8%
Mitsubishi	0	0.0%	20	0.2%	-100.0%	96	0.1%	250	0.3%	-61.6%
Suzuki	9	0.1%	0	0.0%	-%	50	0.0%	0	0.0%	-%
KG Mobility / Ssangyong	0	0.0%	3	0.0%	-100.0%	4	0.0%	10	0.0%	-60.0%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
GAC	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	13,359	100.0%	9,966	100.0%	34.0%	114,486	100.0%	82,894	100.0%	38.1%

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	Dec. 2023	Dec. 2022	Y-o-Y	Jan.-Dec. 2023	Jan.-Dec. 2022	Y-o-Y
1	Isuzu	D-Max	5,396	9,878	-45.4%	127,290	181,384	-29.8%
2	Toyota	Hilux	5,274	7,617	-30.8%	114,585	145,435	-21.2%
3	Toyota	Yaris ATIV	3,232	2,543	27.1%	55,527	26,404	110.3%
4	Honda	City	1,524	2,363	-35.5%	43,262	46,222	-6.4%
5	Ford	Ford Ranger	1,151	2,051	-43.9%	28,848	29,310	-1.6%
6	Toyota	Fortuner	1,031	1,576	-34.6%	25,636	27,133	-5.5%
7	Honda	HR-V	958	765	25.2%	22,443	14,830	51.3%
8	Isuzu	MU-X	942	1,427	-34.0%	22,394	19,376	15.6%
9	Toyota	Corolla Cross	809	1,211	-33.2%	19,857	21,443	-7.4%
10	BYD Auto	Yuan PLUS / ATTO 3	721	252	186.1%	19,213	312	6058.0%

Source: MarkLines Data Center

Flash report, November 2023

Dec 22, 2023

*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.

November vehicle sales in Thailand down 9.8%, production down 14.1% (detailed report)
According to the Federation of Thai Industries (FTI), November vehicle sales in Thailand decreased 9.8% year over year (YoY) to 61,621 units from the same period in 2022, mainly due to the strictness in auto loan approval process of financial institutions, especially on the pickup trucks. In November 2023, sales of passenger cars increased YoY, but sales of pure pickups, PPVs, and 5–10-ton trucks all saw a double-digit YoY decline. Sales in January-November 2023 reached 707,454 units, slid 7.7% from the same period in 2022. According to the FTI, a satisfying number of cars booked at the 40th Thailand Motor Expo is expected to boost vehicle sales in the final month of 2023.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in November, Toyota was down 11.6% to 21,700 units. Isuzu was down 37.1% to 10,415 units and Honda was flat at 7,328 units. BYD is on the 4th position with 4,512 units and MG sales were up 29.5% to 2,500 units. Among other Chinese brands, Great Wall Motor (GWM) was ranked 8th with 1,573 units, up 74.6%, while Neta on the 9th with 1,492 units.
By body type, passenger cars were up 21.2% year over year to 24,567 units. Commercial vehicle sales were down 22.8% to 37,054 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 39.1% to 22,104 units.
The Toyota Hilux was the best-selling model (registration base) in November with 8,028 units, followed by Isuzu D-Max with 7,402 units, Toyota Yaris ATIV with 4,847 units, BYD Dolphin with 2,825 units and Honda City with 2,653 units.
The FTI announced that new vehicle production in November was 163,337 units, down 14.1% YoY. Vehicle production for domestic sales and exports contributed 42.8% and 57.2% respectively. In January-November 2023, vehicle production decreased 1.0% to 1,708,042 units.
Vehicle exports in November 2023 were 99,609 units, up 13.2% YoY. In November, exports to Australia, the Middle East, Europe, North America, Central America, and South America continued to improve. The vehicle export value in November was THB 65.6 billion, up 16.9% year over year. Vehicle exports in the first 11 months of 2023 reached 1,027,234 units, up 15.6% YoY.
The FTI has an optimistic attitude that the 2023’s full-year production target of 1.85 million units will be achieved.

Thailand - Production and Retail Sales of new vehicles

	Nov. 2023	Growth Y-o-Y (%)	Jan.-Nov. 2023	Growth YTD (%)
Production	163,337	-14.1%	1,708,042	-1.0%
Domestic Sales	61,621	-9.8%	707,454	-7.7%
Export (CBU)	99,609	13.2%	1,027,234	15.6%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	21,700	35.2%	24,554	36.0%	-11.6%	241,844	34.2%	258,612	33.7%	-6.5%
Isuzu	10,415	16.9%	16,561	24.3%	-37.1%	141,671	20.0%	194,275	25.3%	-27.1%
Honda	7,328	11.9%	7,328	10.7%	0.0%	84,516	11.9%	74,518	9.7%	13.4%
BYD	4,512	7.3%	-	-%	-%	26,377	3.7%	-	-%	-%
MG	2,500	4.1%	1,930	2.8%	29.5%	24,793	3.5%	24,536	3.2%	1.0%
Ford	2,326	3.8%	4,807	7.0%	-51.6%	33,655	4.8%	38,079	5.0%	-11.6%
Mitsubishi	2,186	3.5%	3,469	5.1%	-37.0%	30,466	4.3%	46,181	6.0%	-34.0%
GWM	1,573	2.6%	901	1.3%	74.6%	11,789	1.7%	10,006	1.3%	17.8%
Neta	1,492	2.4%	-	-%	-%	12,057	1.7%	-	-%	-%
Nissan	1,150	1.9%	1,604	2.3%	-28.3%	15,036	2.1%	20,357	2.7%	-26.1%
Others	6,439	10.4%	7,130	10.4%	-9.7%	85,250	12.1%	100,025	13.0%	-14.8%
Total	61,621	100.0%	68,284	100.0%	-9.8%	707,454	100.0%	766,589	100.0%	-7.7%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	7,512	30.6%	8,405	41.5%	-10.6%	92,034	34.6%	73,797	30.7%	24.7%
Honda	3,928	16.0%	4,438	21.9%	-11.5%	51,297	19.3%	55,879	23.2%	-8.2%
BYD	3,370	13.7%	-	-%	-%	7,885	3.0%	-	-%	-%
MG	1,848	7.5%	915	4.5%	102.0%	17,307	6.5%	12,614	5.2%	37.2%
Neta	1,492	6.1%	-	-%	-%	12,057	4.5%	-	-%	-%
Mitsubishi	872	3.5%	1,489	7.3%	-41.4%	14,291	5.4%	19,333	8.0%	-26.1%
GWM	821	3.3%	283	1.4%	190.1%	5,703	2.1%	3,745	1.6%	52.3%
Suzuki	568	2.3%	986	4.9%	-42.4%	8,890	3.3%	15,245	6.3%	-41.7%
Mazda	454	1.8%	363	1.8%	25.1%	8,174	3.1%	17,287	7.2%	-52.7%
Nissan	399	1.6%	465	2.3%	-14.2%	5,728	2.2%	10,302	4.3%	-44.4%
KIA	225	0.9%	78	0.4%	188.5%	1,088	0.4%	1,191	0.5%	-8.6%
Hyundai	77	0.3%	0	0.0%	-%	1,312	0.5%	0	0.0%	-%
Porsche	67	0.3%	89	0.4%	-24.7%	1,304	0.5%	892	0.4%	46.2%
Subaru	4	0.0%	8	0.0%	-50.0%	81	0.0%	21	0.0%	285.7%
Ford	2	0.0%	2	0.0%	0.0%	19	0.0%	40	0.0%	-52.5%
Others	2,928	11.9%	2,742	13.5%	6.8%	39,195	14.7%	30,025	12.5%	30.5%
Total	24,567	100.0%	20,263	100.0%	21.2%	266,365	100.0%	240,371	100.0%	10.8%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	14,188	38.3%	16,149	33.6%	-12.1%	149,810	34.0%	184,815	35.1%	-18.9%
Isuzu	10,415	28.1%	16,561	34.5%	-37.1%	141,671	32.1%	194,275	36.9%	-27.1%
Honda	3,400	9.2%	2,890	6.0%	17.6%	33,219	7.5%	18,639	3.5%	78.2%
Ford	2,324	6.3%	4,805	10.0%	-51.6%	33,636	7.6%	38,039	7.2%	-11.6%
Mitsubishi	1,314	3.5%	1,980	4.1%	-33.6%	16,175	3.7%	26,848	5.1%	-39.8%
BYD	1,142	3.1%	-	-%	-%	18,492	4.2%	-	-%	-%
Hino	1,107	3.0%	1,289	2.7%	-14.1%	9,647	2.2%	12,703	2.4%	-24.1%
GWM	752	2.0%	618	1.3%	21.7%	6,086	1.4%	6,261	1.2%	-2.8%
Nissan	751	2.0%	1,139	2.4%	-34.1%	9,308	2.1%	10,055	1.9%	-7.4%
MG	652	1.8%	1,015	2.1%	-35.8%	7,486	1.7%	11,922	2.3%	-37.2%
Mazda	348	0.9%	796	1.7%	-56.3%	7,337	1.7%	12,772	2.4%	-42.6%
Hyundai	303	0.8%	294	0.6%	3.1%	3,589	0.8%	3,880	0.7%	-7.5%
Suzuki	178	0.5%	245	0.5%	-27.3%	2,336	0.5%	3,166	0.6%	-26.2%
Subaru	87	0.2%	187	0.4%	-53.5%	1,474	0.3%	1,944	0.4%	-24.2%
Peugeot	39	0.1%	32	0.1%	21.9%	367	0.1%	542	0.1%	-32.3%
GAC	20	0.1%	-	-%	-%	53	0.0%	-	-%	-%
KIA	0	0.0%	0	0.0%	-%	11	0.0%	8	0.0%	37.5%
Others	34	0.1%	21	0.0%	61.9%	392	0.1%	349	0.1%	12.3%
Total	37,054	100.0%	48,021	100.0%	-22.8%	441,089	100.0%	526,218	100.0%	-16.2%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Isuzu	9,377	42.4%	15,382	42.4%	-39.0%	127,260	42.3%	179,307	43.6%	-29.0%
Toyota	8,544	38.7%	13,635	37.6%	-37.3%	118,075	39.2%	157,703	38.3%	-25.1%
Ford	2,324	10.5%	4,805	13.2%	-51.6%	33,636	11.2%	38,039	9.2%	-11.6%
Mitsubishi	1,312	5.9%	1,971	5.4%	-33.4%	16,079	5.3%	26,618	6.5%	-39.6%
Nissan	452	2.0%	275	0.8%	64.4%	4,265	1.4%	6,087	1.5%	-29.9%
MG	71	0.3%	82	0.2%	-13.4%	882	0.3%	2,420	0.6%	-63.6%
Mazda	24	0.1%	136	0.4%	-82.4%	804	0.3%	1,379	0.3%	-41.7%
Total	22,104	100.0%	36,286	100.0%	-39.1%	301,001	100.0%	411,553	100.0%	-26.9%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Nov. *1	Share	Nov.	Share		Jan.-Nov. *1	Share	Jan.-Nov.	Share
Toyota	4,547	40.5%	1,668	21.1%	172.6%	22,916	22.7%	20,390	28.0%	12.4%
Honda	3,400	30.3%	2,890	36.6%	17.6%	33,219	32.8%	18,639	25.6%	78.2%
GWM	752	6.7%	618	7.8%	21.7%	6,086	6.0%	6,261	8.6%	-2.8%
MG	581	5.2%	933	11.8%	-37.7%	6,604	6.5%	9,451	13.0%	-30.1%
Mazda	324	2.9%	660	8.4%	-50.9%	6,533	6.5%	11,393	15.6%	-42.7%
Nissan	299	2.7%	855	10.8%	-65.0%	4,879	4.8%	3,824	5.2%	27.6%
Subaru	87	0.8%	187	2.4%	-53.5%	1,474	1.5%	1,944	2.7%	-24.2%
Peugeot	39	0.3%	32	0.4%	21.9%	367	0.4%	512	0.7%	-28.3%
Hyundai	19	0.2%	45	0.6%	-57.8%	363	0.4%	277	0.4%	31.0%
Suzuki	8	0.1%	0	0.0%	-%	41	0.0%	0	0.0%	-%
Mitsubishi	2	0.0%	9	0.1%	-77.8%	96	0.1%	230	0.3%	-58.3%
KG Mobility / Ssangyong	0	0.0%	2	0.0%	-100.0%	4	0.0%	7	0.0%	-42.9%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
GAC	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	11,220	100.0%	7,899	100.0%	42.0%	101,127	100.0%	72,928	100.0%	38.7%

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	Nov. 2023	Nov. 2022	Y-o-Y	Jan.-Nov. 2023	Jan.-Nov. 2022	Y-o-Y
1	Toyota	Hilux	8,028	10,227	-21.5%	109,311	137,818	-20.7%
2	Isuzu	D-Max	7,402	13,378	-44.7%	121,894	171,506	-28.9%
3	Toyota	Yaris ATIV	4,847	3,097	56.5%	52,295	23,861	119.2%
4	BYD Auto	Dolphin	2,825	-	-%	7,340	-	-%
5	Honda	City	2,653	3,472	-23.6%	41,738	43,859	-4.8%
6	Ford	Ford Ranger	1,943	2,676	-27.4%	27,697	27,259	1.6%
7	Toyota	Fortuner	1,639	2,185	-25.0%	24,605	25,557	-3.7%
8	Honda	CR-V	1,467	169	768.0%	5,742	3,057	87.8%
9	Honda	HR-V	1,444	740	95.1%	21,485	14,065	52.8%
10	Toyota	Yaris	1,290	1,587	-18.7%	17,358	27,262	-36.3%

Source: MarkLines Data Center

Flash report, October 2023

Nov 24, 2023

*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.

October vehicle sales in Thailand down 8.8%, production down 7.0% (detailed report)
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. 

Thailand - Production and Retail Sales of new vehicles

	Oct. 2023	Growth Y-o-Y (%)	Jan.-Oct. 2023	Growth YTD (%)
Production	158,734	-7.0%	1,544,705	0.6%
Domestic Sales	58,963	-8.8%	645,833	-7.5%
Export (CBU)	105,726	12.2%	927,625	15.9%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	20,852	35.4%	25,439	39.4%	-18.0%	220,144	34.1%	234,058	33.5%	-5.9%
Isuzu	10,962	18.6%	14,087	21.8%	-22.2%	131,256	20.3%	177,714	25.4%	-26.1%
Honda	7,306	12.4%	5,909	9.1%	23.6%	77,188	12.0%	67,190	9.6%	14.9%
BYD	3,840	6.5%	-	-%	-%	21,865	3.4%	-	-%	-%
MG	2,700	4.6%	1,886	2.9%	43.2%	22,293	3.5%	22,606	3.2%	-1.4%
Ford	2,543	4.3%	5,046	7.8%	-49.6%	31,329	4.9%	33,272	4.8%	-5.8%
Mitsubishi	1,728	2.9%	3,402	5.3%	-49.2%	28,280	4.4%	42,712	6.1%	-33.8%
GWM	1,115	1.9%	1,011	1.6%	10.3%	10,216	1.6%	9,105	1.3%	12.2%
Neta	1,058	1.8%	-	-%	-%	10,565	1.6%	-	-%	-%
Mazda	977	1.7%	905	1.4%	8.0%	14,709	2.3%	28,900	4.1%	-49.1%
Others	5,882	10.0%	6,933	10.7%	-15.2%	77,988	12.1%	82,748	11.8%	-5.8%
Total	58,963	100.0%	64,618	100.0%	-8.8%	645,833	100.0%	698,305	100.0%	-7.5%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	7,165	32.4%	6,615	34.0%	8.3%	84,522	35.0%	65,392	29.7%	29.3%
Honda	3,462	15.6%	5,454	28.0%	-36.5%	47,369	19.6%	51,441	23.4%	-7.9%
BYD	2,413	10.9%	-	-%	-%	4,515	1.9%	-	-%	-%
MG	2,127	9.6%	740	3.8%	187.4%	15,459	6.4%	11,699	5.3%	32.1%
Neta	1,058	4.8%	-	-%	-%	10,565	4.4%	-	-%	-%
Mitsubishi	743	3.4%	1,489	7.6%	-50.1%	13,419	5.5%	17,844	8.1%	-24.8%
Suzuki	628	2.8%	1,366	7.0%	-54.0%	8,322	3.4%	14,259	6.5%	-41.6%
Mazda	577	2.6%	292	1.5%	97.6%	7,720	3.2%	16,924	7.7%	-54.4%
GWM	561	2.5%	497	2.6%	12.9%	4,882	2.0%	3,462	1.6%	41.0%
Nissan	330	1.5%	472	2.4%	-30.1%	5,329	2.2%	9,837	4.5%	-45.8%
Hyundai	105	0.5%	0	0.0%	-%	1,235	0.5%	0	0.0%	-%
Porsche	100	0.5%	52	0.3%	92.3%	1,237	0.5%	803	0.4%	54.0%
KIA	71	0.3%	55	0.3%	29.1%	863	0.4%	1,113	0.5%	-22.5%
Subaru	8	0.0%	0	0.0%	-%	77	0.0%	13	0.0%	492.3%
Ford	4	0.0%	3	0.0%	33.3%	17	0.0%	38	0.0%	-55.3%
Others	2,778	12.6%	2,433	12.5%	14.2%	36,267	15.0%	27,283	12.4%	32.9%
Total	22,130	100.0%	19,468	100.0%	13.7%	241,798	100.0%	220,108	100.0%	9.9%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	13,687	37.2%	18,824	41.7%	-27.3%	135,622	33.6%	168,666	35.3%	-19.6%
Isuzu	10,962	29.8%	14,087	31.2%	-22.2%	131,256	32.5%	177,714	37.2%	-26.1%
Honda	3,844	10.4%	455	1.0%	744.8%	29,819	7.4%	15,749	3.3%	89.3%
Ford	2,539	6.9%	5,043	11.2%	-49.7%	31,312	7.7%	33,234	6.9%	-5.8%
BYD	1,427	3.9%	-	-%	-%	17,350	4.3%	-	-%	-%
Mitsubishi	985	2.7%	1,913	4.2%	-48.5%	14,861	3.7%	24,868	5.2%	-40.2%
Hino	626	1.7%	905	2.0%	-30.8%	8,540	2.1%	11,414	2.4%	-25.2%
Nissan	589	1.6%	800	1.8%	-26.4%	8,557	2.1%	8,916	1.9%	-4.0%
MG	573	1.6%	1,146	2.5%	-50.0%	6,834	1.7%	10,907	2.3%	-37.3%
GWM	554	1.5%	514	1.1%	7.8%	5,334	1.3%	5,643	1.2%	-5.5%
Mazda	400	1.1%	613	1.4%	-34.7%	6,989	1.7%	11,976	2.5%	-41.6%
Hyundai	336	0.9%	329	0.7%	2.1%	3,286	0.8%	3,586	0.7%	-8.4%
Suzuki	177	0.5%	309	0.7%	-42.7%	2,158	0.5%	2,921	0.6%	-26.1%
Subaru	51	0.1%	144	0.3%	-64.6%	1,387	0.3%	1,757	0.4%	-21.1%
Peugeot	41	0.1%	45	0.1%	-8.9%	328	0.1%	510	0.1%	-35.7%
GAC	2	0.0%	-	-%	-%	33	0.0%	-	-%	-%
KIA	0	0.0%	0	0.0%	-%	11	0.0%	8	0.0%	37.5%
Others	40	0.1%	23	0.1%	73.9%	358	0.1%	328	0.1%	9.1%
Total	36,833	100.0%	45,150	100.0%	-18.4%	404,035	100.0%	478,197	100.0%	-15.5%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Isuzu	9,725	42.3%	12,795	36.1%	-24.0%	117,883	42.3%	163,925	43.7%	-28.1%
Toyota	9,338	40.6%	15,020	42.4%	-37.8%	109,531	39.3%	144,068	38.4%	-24.0%
Ford	2,539	11.0%	5,043	14.2%	-49.7%	31,312	11.2%	33,234	8.9%	-5.8%
Mitsubishi	977	4.2%	1,898	5.4%	-48.5%	14,767	5.3%	24,647	6.6%	-40.1%
Nissan	308	1.3%	409	1.2%	-24.7%	3,813	1.4%	5,812	1.5%	-34.4%
MG	73	0.3%	142	0.4%	-48.6%	811	0.3%	2,338	0.6%	-65.3%
Mazda	38	0.2%	140	0.4%	-72.9%	780	0.3%	1,243	0.3%	-37.2%
Total	22,998	100.0%	35,447	100.0%	-35.1%	278,897	100.0%	375,267	100.0%	-25.7%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Oct. *1	Share	Oct.	Share		Jan.-Oct. *1	Share	Jan.-Oct.	Share
Honda	3,844	36.5%	455	9.7%	744.8%	29,819	33.2%	15,749	24.2%	89.3%
Toyota	3,433	32.6%	1,625	34.6%	111.3%	18,369	20.4%	18,722	28.8%	-1.9%
GWM	554	5.3%	514	10.9%	7.8%	5,334	5.9%	5,643	8.7%	-5.5%
MG	500	4.7%	1,004	21.4%	-50.2%	6,023	6.7%	8,518	13.1%	-29.3%
Mazda	362	3.4%	473	10.1%	-23.5%	6,209	6.9%	10,733	16.5%	-42.2%
Nissan	278	2.6%	380	8.1%	-26.8%	4,580	5.1%	2,969	4.6%	54.3%
Subaru	51	0.5%	144	3.1%	-64.6%	1,387	1.5%	1,757	2.7%	-21.1%
Peugeot	41	0.4%	45	1.0%	-8.9%	328	0.4%	480	0.7%	-31.7%
Hyundai	25	0.2%	40	0.9%	-37.5%	344	0.4%	232	0.4%	48.3%
Mitsubishi	8	0.1%	15	0.3%	-46.7%	94	0.1%	221	0.3%	-57.5%
Suzuki	5	0.0%	0	0.0%	-%	33	0.0%	0	0.0%	-%
KG Mobility / Ssangyong	0	0.0%	0	0.0%	-%	4	0.0%	5	0.0%	-20.0%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
GAC	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	10,530	100.0%	4,695	100.0%	124.3%	89,907	100.0%	65,029	100.0%	38.3%

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	Oct. 2023	Oct. 2022	Y-o-Y	Jan.-Oct. 2023	Jan.-Oct. 2022	Y-o-Y
1	Toyota	Hilux	7,693	9,565	-19.6%	101,283	127,591	-20.6%
2	Isuzu	D-Max	7,177	12,313	-41.7%	114,492	158,128	-27.6%
3	Toyota	Yaris ATIV	5,227	2,602	100.9%	47,448	20,764	128.5%
4	Honda	City	2,666	3,526	-24.4%	39,085	40,387	-3.2%
5	BYD Auto	Dolphin	2,413	-	-%	4,515	-	-%
6	Ford	Ford Ranger	1,931	2,197	-12.1%	25,754	24,583	4.8%
7	Toyota	Fortuner	1,820	2,131	-14.6%	22,966	23,372	-1.7%
8	Honda	HR-V	1,535	1,092	40.6%	20,041	13,325	50.4%
9	Toyota	Yaris	1,490	1,423	4.7%	16,068	25,675	-37.4%
10	BYD Auto	Yuan PLUS / ATTO 3	1,427	-	-%	17,350	-	-%

Source: MarkLines Data Center

Flash report, September 2023

Oct 24, 2023

*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.

September vehicle sales in Thailand down 16.3%, production down 8.4% (detailed report)
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.

Thailand - Production and Retail Sales of new vehicles

	Sep. 2023	Growth Y-o-Y (%)	Jan.-Sep. 2023	Growth YTD (%)
Production	164,093	-8.4%	1,385,971	1.6%
Domestic Sales	62,086	-16.3%	586,870	-7.4%
Export (CBU)	97,476	-2.9%	821,899	16.3%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	21,141	34.1%	22,954	31.0%	-7.9%	199,292	34.0%	208,619	32.9%	-4.5%
Isuzu	10,898	17.6%	21,598	29.1%	-49.5%	120,294	20.5%	163,627	25.8%	-26.5%
Honda	9,113	14.7%	6,793	9.2%	34.2%	69,882	11.9%	61,281	9.7%	14.0%
BYD	3,231	5.2%	-	-%	-%	18,025	3.1%	-	-%	-%
Ford	2,948	4.7%	5,010	6.8%	-41.2%	28,786	4.9%	28,226	4.5%	2.0%
MG	2,427	3.9%	2,211	3.0%	9.8%	19,593	3.3%	20,720	3.3%	-5.4%
Mitsubishi	2,109	3.4%	3,872	5.2%	-45.5%	26,552	4.5%	39,310	6.2%	-32.5%
Nissan	1,303	2.1%	1,605	2.2%	-18.8%	12,967	2.2%	17,481	2.8%	-25.8%
Mazda	1,247	2.0%	2,752	3.7%	-54.7%	13,732	2.3%	27,995	4.4%	-50.9%
GWM	1,031	1.7%	915	1.2%	12.7%	9,101	1.6%	8,094	1.3%	12.4%
Others	6,638	10.7%	6,440	8.7%	3.1%	68,646	11.7%	58,334	9.2%	17.7%
Total	62,086	100.0%	74,150	100.0%	-16.3%	586,870	100.0%	633,687	100.0%	-7.4%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	9,922	39.0%	7,382	32.1%	34.4%	77,357	35.2%	58,777	29.3%	31.6%
Honda	4,212	16.6%	5,961	25.9%	-29.3%	43,907	20.0%	45,987	22.9%	-4.5%
MG	1,864	7.3%	1,246	5.4%	49.6%	13,332	6.1%	10,959	5.5%	21.7%
BYD	1,621	6.4%	-	-%	-%	2,102	1.0%	-	-%	-%
Mitsubishi	1,083	4.3%	1,793	7.8%	-39.6%	12,676	5.8%	16,355	8.2%	-22.5%
Neta	954	3.8%	-	-%	-%	9,507	4.3%	-	-%	-%
Mazda	705	2.8%	1,263	5.5%	-44.2%	7,143	3.3%	16,632	8.3%	-57.1%
GWM	618	2.4%	450	2.0%	37.3%	4,321	2.0%	2,965	1.5%	45.7%
Suzuki	598	2.4%	1,426	6.2%	-58.1%	7,694	3.5%	12,893	6.4%	-40.3%
Nissan	413	1.6%	563	2.4%	-26.6%	4,999	2.3%	9,365	4.7%	-46.6%
Hyundai	125	0.5%	0	0.0%	-%	1,130	0.5%	0	0.0%	-%
KIA	125	0.5%	49	0.2%	155.1%	792	0.4%	1,058	0.5%	-25.1%
Porsche	82	0.3%	102	0.4%	-19.6%	1,137	0.5%	751	0.4%	51.4%
Subaru	15	0.1%	0	0.0%	-%	69	0.0%	13	0.0%	430.8%
Ford	2	0.0%	3	0.0%	-33.3%	13	0.0%	35	0.0%	-62.9%
Others	3,086	12.1%	2,785	12.1%	10.8%	33,489	15.2%	24,850	12.4%	34.8%
Total	25,425	100.0%	23,023	100.0%	10.4%	219,668	100.0%	200,640	100.0%	9.5%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	11,219	30.6%	15,572	30.5%	-28.0%	121,935	33.2%	149,842	34.6%	-18.6%
Isuzu	10,898	29.7%	21,598	42.2%	-49.5%	120,294	32.8%	163,627	37.8%	-26.5%
Honda	4,901	13.4%	832	1.6%	489.1%	25,975	7.1%	15,294	3.5%	69.8%
Ford	2,946	8.0%	5,007	9.8%	-41.2%	28,773	7.8%	28,191	6.5%	2.1%
BYD	1,610	4.4%	-	-%	-%	15,923	4.3%	-	-%	-%
Mitsubishi	1,026	2.8%	2,079	4.1%	-50.6%	13,876	3.8%	22,955	5.3%	-39.6%
Nissan	890	2.4%	1,042	2.0%	-14.6%	7,968	2.2%	8,116	1.9%	-1.8%
Hino	848	2.3%	1,111	2.2%	-23.7%	7,914	2.2%	10,509	2.4%	-24.7%
MG	563	1.5%	965	1.9%	-41.7%	6,261	1.7%	9,761	2.3%	-35.9%
Mazda	542	1.5%	1,489	2.9%	-63.6%	6,589	1.8%	11,363	2.6%	-42.0%
GWM	413	1.1%	465	0.9%	-11.2%	4,780	1.3%	5,129	1.2%	-6.8%
Hyundai	390	1.1%	344	0.7%	13.4%	2,950	0.8%	3,257	0.8%	-9.4%
Suzuki	170	0.5%	354	0.7%	-52.0%	1,981	0.5%	2,612	0.6%	-24.2%
Subaru	110	0.3%	193	0.4%	-43.0%	1,336	0.4%	1,613	0.4%	-17.2%
Peugeot	42	0.1%	38	0.1%	10.5%	287	0.1%	465	0.1%	-38.3%
GAC	31	0.1%	-	-%	-%	31	0.0%	-	-%	-%
KIA	0	0.0%	0	0.0%	-%	11	0.0%	8	0.0%	37.5%
Others	62	0.2%	38	0.1%	63.2%	318	0.1%	305	0.1%	4.3%
Total	36,661	100.0%	51,127	100.0%	-28.3%	367,202	100.0%	433,047	100.0%	-15.2%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota	9,547	40.9%	13,234	32.0%	-27.9%	100,193	39.2%	129,048	38.0%	-22.4%
Isuzu	9,298	39.8%	20,226	48.9%	-54.0%	108,158	42.3%	151,130	44.5%	-28.4%
Ford	2,946	12.6%	5,007	12.1%	-41.2%	28,773	11.2%	28,191	8.3%	2.1%
Mitsubishi	1,012	4.3%	2,045	4.9%	-50.5%	13,790	5.4%	22,749	6.7%	-39.4%
Nissan	399	1.7%	437	1.1%	-8.7%	3,505	1.4%	5,403	1.6%	-35.1%
MG	75	0.3%	178	0.4%	-57.9%	738	0.3%	2,196	0.6%	-66.4%
Mazda	66	0.3%	269	0.6%	-75.5%	742	0.3%	1,103	0.3%	-32.7%
Total	23,343	100.0%	41,396	100.0%	-43.6%	255,899	100.0%	339,820	100.0%	-24.7%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep. *1	Share	Jan.-Sep.	Share
Honda	4,901	51.2%	832	13.5%	489.1%	25,975	32.7%	15,294	25.3%	69.8%
Toyota	962	10.0%	2,015	32.7%	-52.3%	14,936	18.8%	17,097	28.3%	-12.6%
MG	488	5.1%	736	12.0%	-33.7%	5,523	7.0%	7,514	12.5%	-26.5%
Nissan	488	5.1%	594	9.6%	-17.8%	4,302	5.4%	2,589	4.3%	66.2%
Mazda	476	5.0%	1,220	19.8%	-61.0%	5,847	7.4%	10,260	17.0%	-43.0%
GWM	413	4.3%	465	7.6%	-11.2%	4,780	6.0%	5,129	8.5%	-6.8%
Subaru	110	1.1%	193	3.1%	-43.0%	1,336	1.7%	1,613	2.7%	-17.2%
Peugeot	42	0.4%	38	0.6%	10.5%	287	0.4%	435	0.7%	-34.0%
Hyundai	38	0.4%	31	0.5%	22.6%	319	0.4%	192	0.3%	66.1%
Mitsubishi	14	0.1%	34	0.6%	-58.8%	86	0.1%	206	0.3%	-58.3%
Suzuki	7	0.1%	0	0.0%	-%	28	0.0%	0	0.0%	-%
KG Mobility / Ssangyong	0	0.0%	0	0.0%	-%	4	0.0%	5	0.0%	-20.0%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
GAC	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	9,580	100.0%	6,158	100.0%	55.6%	79,377	100.0%	60,334	100.0%	31.6%

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	Sep. 2023	Sep. 2022	Y-o-Y	Jan.-Sep. 2023	Jan.-Sep. 2022	Y-o-Y
1	Toyota	Hilux	8,452	14,528	-41.8%	93,590	118,026	-20.7%
2	Isuzu	D-Max	8,282	19,077	-56.6%	107,315	145,815	-26.4%
3	Toyota	Yaris ATIV	4,279	2,725	57.0%	42,221	18,162	132.5%
4	Honda	City	2,974	3,767	-21.1%	36,419	36,861	-1.2%
5	Ford	Ford Ranger	2,182	2,413	-9.6%	23,823	22,386	6.4%
6	Toyota	Fortuner	1,870	2,099	-10.9%	21,146	21,241	-0.4%
7	Isuzu	MU-X	1,654	1,870	-11.6%	18,876	14,675	28.6%
8	BYD Auto	Dolphin	1,621	-	-%	2,102	-	-%
9	BYD Auto	Yuan PLUS / ATTO 3	1,610	-	-%	15,923	-	-%
10	Toyota	Yaris	1,608	2,290	-29.8%	14,578	24,252	-39.9%

Source: MarkLines Data Center

Flash report, August 2023

Sep 25, 2023

*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.

August vehicle sales in Thailand down 11.7%, production down 12.3% (detailed report)
According to the Federation of Thai Industries (FTI), August vehicle sales in Thailand decreased 11.7% year over year (YoY) to 60,234 units from the same period in 2022. Sales in January-August 2023 reached 524,784 units, slid 6.2% 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 August, Toyota was down 10.6% to 20,871 units. Isuzu was down 28.2% to 11,380 units and Honda was up 0.2% to 7,084 units. Ford sales were down 36.8% to 2,956 units. BYD entered top 5 makers for the first time with 2,251 units. Among other Chinese brands, MG was ranked 6th with 2,122 units, up 22.3%, while Great Wall Motor on the 10th with 1,071 units, up 32.2%.
By body type, passenger cars were up 4.9% year over year to 23,645 units. Commercial vehicle sales were down 19.9% to 36,589 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 32.6% to 24,622 units.
The Toyota Hilux was the best-selling model (registration base) in August with 10,218 units, followed by Isuzu D-Max with 9,700 units, Toyota Yaris ATIV with 4,280 units, Honda City with 3,824 units and Ford Ranger with 2,552 units.
The FTI announced that new vehicle production in August was 150,657 units, down 12.3% YoY. Vehicle production for domestic sales and exports contributed 41.2% and 58.8% respectively. In January-August 2023, vehicle production increased 3.1% to 1,221,878 units.
Vehicle exports in August 2023 were at 87,555 units, up 19.4% YoY. The vehicle export value in August was THB 60.2 billion, up 22.0% year over year. In August, exports to Australia, the Middle East, Europe, North America, Central America, and South America improved. Vehicle exports in the first 8 months of 2023 reached 724,423 units, up 19.5% YoY.
On August 25, FTI announced that it has revised its projection on local car production in 2023 downward from 1.95 million units to 1.9 million units. According to the latest media reports, FTI mentioned about the possibility for further revising down.

Thailand - Production and Retail Sales of new vehicles

	Aug. 2023	Growth Y-o-Y (%)	Jan.-Aug. 2023	Growth YTD (%)
Production	150,657	-12.3%	1,221,878	3.1%
Domestic Sales	60,234	-11.7%	524,784	-6.2%
Export (CBU)	87,555	19.4%	724,423	19.5%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	20,871	34.6%	23,356	34.2%	-10.6%	178,151	33.9%	185,665	33.2%	-4.0%
Isuzu	11,380	18.9%	15,858	23.2%	-28.2%	109,396	20.8%	142,029	25.4%	-23.0%
Honda	7,084	11.8%	7,071	10.4%	0.2%	60,769	11.6%	54,488	9.7%	11.5%
Ford	2,956	4.9%	4,676	6.9%	-36.8%	25,838	4.9%	23,216	4.1%	11.3%
BYD	2,251	3.7%	-	-%	-%	14,794	2.8%	-	-%	-%
MG	2,122	3.5%	1,735	2.5%	22.3%	17,166	3.3%	18,509	3.3%	-7.3%
Mitsubishi	2,103	3.5%	4,013	5.9%	-47.6%	24,443	4.7%	35,438	6.3%	-31.0%
Mazda	1,379	2.3%	2,718	4.0%	-49.3%	12,485	2.4%	25,243	4.5%	-50.5%
Nissan	1,227	2.0%	1,769	2.6%	-30.6%	11,664	2.2%	15,876	2.8%	-26.5%
GWM	1,071	1.8%	810	1.2%	32.2%	8,070	1.5%	7,179	1.3%	12.4%
Others	7,790	12.9%	6,202	9.1%	25.6%	62,008	11.8%	51,894	9.3%	19.5%
Total	60,234	100.0%	68,208	100.0%	-11.7%	524,784	100.0%	559,537	100.0%	-6.2%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	8,346	35.3%	7,405	32.9%	12.7%	67,435	34.7%	51,395	28.9%	31.2%
Honda	4,348	18.4%	5,817	25.8%	-25.3%	39,695	20.4%	40,026	22.5%	-0.8%
MG	1,592	6.7%	872	3.9%	82.6%	11,468	5.9%	9,713	5.5%	18.1%
Neta	990	4.2%	-	-%	-%	8,553	4.4%	-	-%	-%
Mitsubishi	929	3.9%	1,592	7.1%	-41.6%	11,593	6.0%	14,562	8.2%	-20.4%
Mazda	760	3.2%	1,526	6.8%	-50.2%	6,438	3.3%	15,369	8.7%	-58.1%
Suzuki	692	2.9%	944	4.2%	-26.7%	7,096	3.7%	11,467	6.5%	-38.1%
GWM	629	2.7%	417	1.9%	50.8%	3,703	1.9%	2,515	1.4%	47.2%
Nissan	501	2.1%	879	3.9%	-43.0%	4,586	2.4%	8,802	5.0%	-47.9%
BYD	481	2.0%	-	-%	-%	481	0.2%	-	-%	-%
Hyundai	170	0.7%	0	0.0%	-%	1,005	0.5%	0	0.0%	-%
Porsche	95	0.4%	82	0.4%	15.9%	1,055	0.5%	649	0.4%	62.6%
Subaru	18	0.1%	0	0.0%	-%	54	0.0%	13	0.0%	315.4%
KIA	15	0.1%	59	0.3%	-74.6%	667	0.3%	1,009	0.6%	-33.9%
Ford	0	0.0%	2	0.0%	-100.0%	11	0.0%	32	0.0%	-65.6%
Others	4,079	17.3%	2,935	13.0%	39.0%	30,403	15.7%	22,065	12.4%	37.8%
Total	23,645	100.0%	22,530	100.0%	4.9%	194,243	100.0%	177,617	100.0%	9.4%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	12,525	34.2%	15,951	34.9%	-21.5%	110,716	33.5%	134,270	35.2%	-17.5%
Isuzu	11,380	31.1%	15,858	34.7%	-28.2%	109,396	33.1%	142,029	37.2%	-23.0%
Ford	2,956	8.1%	4,674	10.2%	-36.8%	25,827	7.8%	23,184	6.1%	11.4%
Honda	2,736	7.5%	1,254	2.7%	118.2%	21,074	6.4%	14,462	3.8%	45.7%
BYD	1,770	4.8%	-	-%	-%	14,313	4.3%	-	-%	-%
Mitsubishi	1,174	3.2%	2,421	5.3%	-51.5%	12,850	3.9%	20,876	5.5%	-38.4%
Hino	961	2.6%	1,223	2.7%	-21.4%	7,066	2.1%	9,398	2.5%	-24.8%
Nissan	726	2.0%	890	1.9%	-18.4%	7,078	2.1%	7,074	1.9%	0.1%
Mazda	619	1.7%	1,192	2.6%	-48.1%	6,047	1.8%	9,874	2.6%	-38.8%
MG	530	1.4%	863	1.9%	-38.6%	5,698	1.7%	8,796	2.3%	-35.2%
GWM	442	1.2%	393	0.9%	12.5%	4,367	1.3%	4,664	1.2%	-6.4%
Hyundai	380	1.0%	404	0.9%	-5.9%	2,560	0.8%	2,913	0.8%	-12.1%
Suzuki	209	0.6%	278	0.6%	-24.8%	1,811	0.5%	2,258	0.6%	-19.8%
Subaru	117	0.3%	189	0.4%	-38.1%	1,226	0.4%	1,420	0.4%	-13.7%
Peugeot	21	0.1%	48	0.1%	-56.3%	245	0.1%	427	0.1%	-42.6%
KIA	0	0.0%	0	0.0%	-%	11	0.0%	8	0.0%	37.5%
Others	43	0.1%	40	0.1%	7.5%	256	0.1%	267	0.1%	-4.1%
Total	36,589	100.0%	45,678	100.0%	-19.9%	330,541	100.0%	381,920	100.0%	-13.5%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota	10,014	40.7%	13,923	38.1%	-28.1%	90,646	39.0%	115,814	38.8%	-21.7%
Isuzu	9,999	40.6%	14,633	40.1%	-31.7%	98,860	42.5%	130,904	43.9%	-24.5%
Ford	2,956	12.0%	4,674	12.8%	-36.8%	25,827	11.1%	23,184	7.8%	11.4%
Mitsubishi	1,168	4.7%	2,398	6.6%	-51.3%	12,778	5.5%	20,704	6.9%	-38.3%
Nissan	376	1.5%	472	1.3%	-20.3%	3,106	1.3%	4,966	1.7%	-37.5%
Mazda	61	0.2%	227	0.6%	-73.1%	676	0.3%	834	0.3%	-18.9%
MG	48	0.2%	201	0.6%	-76.1%	663	0.3%	2,018	0.7%	-67.1%
Total	24,622	100.0%	36,528	100.0%	-32.6%	232,556	100.0%	298,424	100.0%	-22.1%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug. *1	Share	Jan.-Aug.	Share
Honda	2,736	33.1%	1,254	21.8%	118.2%	21,074	30.2%	14,462	26.7%	45.7%
Toyota	1,730	20.9%	1,787	31.0%	-3.2%	13,974	20.0%	15,082	27.8%	-7.3%
Mazda	558	6.8%	965	16.7%	-42.2%	5,371	7.7%	9,040	16.7%	-40.6%
MG	482	5.8%	662	11.5%	-27.2%	5,035	7.2%	6,778	12.5%	-25.7%
GWM	442	5.3%	393	6.8%	12.5%	4,367	6.3%	4,664	8.6%	-6.4%
Nissan	348	4.2%	414	7.2%	-15.9%	3,814	5.5%	1,995	3.7%	91.2%
Subaru	117	1.4%	189	3.3%	-38.1%	1,226	1.8%	1,420	2.6%	-13.7%
Hyundai	50	0.6%	25	0.4%	100.0%	281	0.4%	161	0.3%	74.5%
Peugeot	21	0.3%	48	0.8%	-56.3%	245	0.4%	397	0.7%	-38.3%
Mitsubishi	6	0.1%	23	0.4%	-73.9%	72	0.1%	172	0.3%	-58.1%
Suzuki	4	0.0%	0	0.0%	-%	21	0.0%	0	0.0%	-%
KG Mobility / Ssangyong	0	0.0%	2	0.0%	-100.0%	4	0.0%	5	0.0%	-20.0%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	8,264	100.0%	5,762	100.0%	43.4%	69,797	100.0%	54,176	100.0%	28.8%

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	Aug. 2023	Aug. 2022	Y-o-Y	Jan.-Aug. 2023	Jan.-Aug. 2022	Y-o-Y
1	Toyota	Hilux	10,218	13,182	-22.5%	85,139	103,498	-17.7%
2	Isuzu	D-Max	9,700	17,001	-42.9%	99,033	126,738	-21.9%
3	Toyota	Yaris ATIV	4,280	1,487	187.8%	37,942	15,437	145.8%
4	Honda	City	3,824	2,761	38.5%	33,445	33,094	1.1%
5	Ford	Ford Ranger	2,552	2,465	3.5%	21,641	19,973	8.4%
6	Toyota	Fortuner	2,011	1,927	4.4%	19,294	19,142	0.8%
7	Isuzu	MU-X	1,993	1,731	15.1%	17,319	12,805	35.3%
8	Honda	HR-V	1,894	1,576	20.2%	17,002	10,449	62.7%
9	Toyota	Corolla Cross	1,858	1,952	-4.8%	15,028	14,695	2.3%
10	Toyota	Yaris	1,822	2,538	-28.2%	12,970	21,962	-40.9%

Source: MarkLines Data Center

Flash report, July 2023

Aug 28, 2023

*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.

July vehicle sales in Thailand down 8.8%, production up 4.7% (detailed report)
According to the Federation of Thai Industries (FTI), July vehicle sales in Thailand decreased 8.8% year over year (YoY) to 58,419 units from the same period in 2022. Sales in January-July 2023 reached 464,550 units, slid 5.5% from the same period in 2022. Along with the local economic slowdown, rising household debt, and other negative factors, the strictness in auto loan approval process of financial institutions, especially for pickup trucks, continued to hamper vehicle sales. FTI said that the new government is expected to launch some support measures that will uplift the auto industry and the overall economy, hence the anticipated brighter outlook for the final quarter of 2023.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in July, Toyota was up 0.7% to 20,421 units. Isuzu was down 27.9% to 11,735 units and Honda was up 4.1% to 7,551 units. Ford sales were down 23.7% to 2,754 units and Mitsubishi sales were down 36.6% to 2,505 units. Chinese brands moved up the sales ranking with MG 6th and BYD 7th position.
By body type, passenger cars were up 17.3% year over year to 22,511 units. Commercial vehicle sales were down 19.9% to 35,908 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 26.6% to 24,982 units.
The Isuzu D-Max was the best-selling model (registration base) in July with 8,944 units, followed by Toyota Hilux with 8,811 units, Toyota Yaris ATIV with 3,337 units, Honda City with 3,069 units and Ford Ranger with 2,144 units.
The FTI announced that new vehicle production in July was 149,709 units, up 4.7% YoY. Vehicle production for domestic sales and exports contributed 42.2% and 57.8% respectively. In January-July 2023, vehicle production increased 0.7% to 1,071,221 units.
Vehicle exports in July 2023 were at 108,052 units, up 30.0% YoY. The vehicle export value in July was THB 67.6 billion, up 30.0% year over year. In July, exports to almost every country which are Thailand trading partners improved, except for North America. Vehicle exports in the first 7 months of 2023 reached 636,868 units, up 19.5% YoY.
On July 25, FTI announced that it has revised its projection on local car production in 2023 downward from 1.95 million units to 1.9 million units. The targeted vehicle production for exports stays at 1.05 million units, while production for local sales has been lowered from 900,000 units to 850,000 units. The 4 reasons behind this adjustment are financial institutions’ stringent auto loan conditions, Thailand’s exports of some other products have been declining for several consecutive months, causing many industries to reduce work shifts and overtime, the rising cost of living, and high interest rates and though the sales of EVs continues rising in Thailand, most of them are imported from overseas, not locally produced.

Thailand - Production and Retail Sales of new vehicles

	Jul. 2023	Growth Y-o-Y (%)	Jan.-Jul. 2023	Growth YTD (%)
Production	149,709	4.7%	1,071,221	0.7%
Domestic Sales	58,419	-8.8%	464,550	-5.5%
Export (CBU)	108,052	30.0%	636,868	19.5%

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

New vehicle retail sales by major makers

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	20,421	35.0%	20,277	31.7%	0.7%	157,280	33.9%	162,309	33.0%	-3.1%
Isuzu	11,735	20.1%	16,282	25.4%	-27.9%	98,016	21.1%	126,171	25.7%	-22.3%
Honda	7,551	12.9%	7,256	11.3%	4.1%	53,685	11.6%	47,417	9.7%	13.2%
Ford	2,754	4.7%	3,611	5.6%	-23.7%	22,882	4.9%	18,540	3.8%	23.4%
Mitsubishi	2,505	4.3%	3,951	6.2%	-36.6%	22,340	4.8%	31,425	6.4%	-28.9%
MG	1,973	3.4%	1,459	2.3%	35.2%	15,044	3.2%	16,774	3.4%	-10.3%
BYD	1,376	2.4%	-	-%	-%	12,543	2.7%	-	-%	-%
Mazda	1,287	2.2%	2,408	3.8%	-46.6%	11,106	2.4%	22,525	4.6%	-50.7%
Nissan	1,204	2.1%	2,340	3.7%	-48.5%	10,437	2.2%	14,107	2.9%	-26.0%
Neta	1,161	2.0%	-	-%	-%	7,563	1.6%	-	-%	-%
Others	6,452	11.0%	6,449	10.1%	0.0%	53,654	11.5%	52,061	10.6%	3.1%
Total	58,419	100.0%	64,033	100.0%	-8.8%	464,550	100.0%	491,329	100.0%	-5.5%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	8,048	35.8%	5,096	26.5%	57.9%	59,089	34.6%	43,990	28.4%	34.3%
Honda	4,922	21.9%	4,635	24.1%	6.2%	35,347	20.7%	34,209	22.1%	3.3%
MG	1,429	6.3%	753	3.9%	89.8%	9,876	5.8%	8,841	5.7%	11.7%
Neta	1,161	5.2%	-	-%	-%	7,563	4.4%	-	-%	-%
Mitsubishi	1,086	4.8%	1,788	9.3%	-39.3%	10,664	6.3%	12,970	8.4%	-17.8%
Suzuki	787	3.5%	1,003	5.2%	-21.5%	6,404	3.8%	10,523	6.8%	-39.1%
Mazda	773	3.4%	1,732	9.0%	-55.4%	5,678	3.3%	13,843	8.9%	-59.0%
Nissan	525	2.3%	1,111	5.8%	-52.7%	4,085	2.4%	7,923	5.1%	-48.4%
GWM	474	2.1%	696	3.6%	-31.9%	3,074	1.8%	2,098	1.4%	46.5%
Hyundai	296	1.3%	0	0.0%	-%	835	0.5%	0	0.0%	-%
Porsche	130	0.6%	74	0.4%	75.7%	960	0.6%	567	0.4%	69.3%
KIA	47	0.2%	100	0.5%	-53.0%	652	0.4%	950	0.6%	-31.4%
Subaru	9	0.0%	1	0.0%	800.0%	36	0.0%	13	0.0%	176.9%
Ford	0	0.0%	2	0.0%	-100.0%	11	0.0%	30	0.0%	-63.3%
Others	2,824	12.5%	2,203	11.5%	28.2%	26,324	15.4%	19,130	12.3%	37.6%
Total	22,511	100.0%	19,194	100.0%	17.3%	170,598	100.0%	155,087	100.0%	10.0%

* Includes sales volume of the Lexus.

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

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	12,373	34.5%	15,181	33.9%	-18.5%	98,191	33.4%	118,319	35.2%	-17.0%
Isuzu	11,735	32.7%	16,282	36.3%	-27.9%	98,016	33.3%	126,171	37.5%	-22.3%
Ford	2,754	7.7%	3,609	8.0%	-23.7%	22,871	7.8%	18,510	5.5%	23.6%
Honda	2,629	7.3%	2,621	5.8%	0.3%	18,338	6.2%	13,208	3.9%	38.8%
Mitsubishi	1,419	4.0%	2,163	4.8%	-34.4%	11,676	4.0%	18,455	5.5%	-36.7%
BYD	1,376	3.8%	-	-%	-%	12,543	4.3%	-	-%	-%
Hino	733	2.0%	1,101	2.5%	-33.4%	6,105	2.1%	8,175	2.4%	-25.3%
Nissan	679	1.9%	1,229	2.7%	-44.8%	6,352	2.2%	6,184	1.8%	2.7%
MG	544	1.5%	706	1.6%	-22.9%	5,168	1.8%	7,933	2.4%	-34.9%
Mazda	514	1.4%	676	1.5%	-24.0%	5,428	1.8%	8,682	2.6%	-37.5%
Hyundai	424	1.2%	398	0.9%	6.5%	2,180	0.7%	2,509	0.7%	-13.1%
GWM	303	0.8%	454	1.0%	-33.3%	3,925	1.3%	4,271	1.3%	-8.1%
Suzuki	225	0.6%	233	0.5%	-3.4%	1,602	0.5%	1,980	0.6%	-19.1%
Subaru	122	0.3%	112	0.2%	8.9%	1,109	0.4%	1,231	0.4%	-9.9%
Peugeot	20	0.1%	30	0.1%	-33.3%	224	0.1%	379	0.1%	-40.9%
KIA	0	0.0%	1	0.0%	-100.0%	11	0.0%	8	0.0%	37.5%
Others	58	0.2%	43	0.1%	34.9%	213	0.1%	227	0.1%	-6.2%
Total	35,908	100.0%	44,839	100.0%	-19.9%	293,952	100.0%	336,242	100.0%	-12.6%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Isuzu	10,228	40.9%	14,832	43.6%	-31.0%	88,861	42.7%	116,271	44.4%	-23.6%
Toyota	10,088	40.4%	12,659	37.2%	-20.3%	80,632	38.8%	101,891	38.9%	-20.9%
Ford	2,754	11.0%	3,609	10.6%	-23.7%	22,871	11.0%	18,510	7.1%	23.6%
Mitsubishi	1,416	5.7%	2,138	6.3%	-33.8%	11,610	5.6%	18,306	7.0%	-36.6%
Nissan	369	1.5%	523	1.5%	-29.4%	2,730	1.3%	4,494	1.7%	-39.3%
MG	64	0.3%	196	0.6%	-67.3%	615	0.3%	1,817	0.7%	-66.2%
Mazda	63	0.3%	97	0.3%	-35.1%	615	0.3%	607	0.2%	1.3%
Total	24,982	100.0%	34,054	100.0%	-26.6%	207,934	100.0%	261,896	100.0%	-20.6%

SUV

Maker/Brand	2023		2022		Y-o-Y	2023		2022		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul. *1	Share	Jan.-Jul.	Share
Honda	2,629	35.9%	2,621	36.7%	0.3%	18,338	29.8%	13,208	27.3%	38.8%
Toyota	1,575	21.5%	2,139	29.9%	-26.4%	12,244	19.9%	13,295	27.5%	-7.9%
MG	480	6.6%	510	7.1%	-5.9%	4,553	7.4%	6,116	12.6%	-25.6%
Mazda	451	6.2%	579	8.1%	-22.1%	4,813	7.8%	8,075	16.7%	-40.4%
Nissan	308	4.2%	692	9.7%	-55.5%	3,466	5.6%	1,581	3.3%	119.2%
GWM	303	4.1%	454	6.4%	-33.3%	3,925	6.4%	4,271	8.8%	-8.1%
Subaru	122	1.7%	112	1.6%	8.9%	1,109	1.8%	1,231	2.5%	-9.9%
Hyundai	52	0.7%	11	0.2%	372.7%	231	0.4%	136	0.3%	69.9%
Peugeot	20	0.3%	0	0.0%	-%	224	0.4%	349	0.7%	-35.8%
Mitsubishi	3	0.0%	25	0.3%	-88.0%	66	0.1%	149	0.3%	-55.7%
Suzuki	3	0.0%	0	0.0%	-%	17	0.0%	0	0.0%	-%
KG Mobility / Ssangyong	1	0.0%	1	0.0%	0.0%	4	0.0%	3	0.0%	33.3%
BYD	N/A	-%	-	-%	-%	N/A	-%	-	-%	-%
Total *1	7,323	100.0%	7,144	100.0%	2.5%	61,533	100.0%	48,414	100.0%	27.1%

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	Jul. 2023	Jul. 2022	Y-o-Y	Jan.-Jul. 2023	Jan.-Jul. 2022	Y-o-Y
1	Isuzu	D-Max	8,944	14,036	-36.3%	89,333	109,737	-18.6%
2	Toyota	Hilux	8,811	10,352	-14.9%	74,921	90,316	-17.0%
3	Toyota	Yaris ATIV	3,337	1,477	125.9%	33,662	13,950	141.3%
4	Honda	City	3,069	2,330	31.7%	29,621	30,333	-2.3%
5	Ford	Ford Ranger	2,144	1,844	16.3%	19,089	17,508	9.0%
6	Isuzu	MU-X	1,856	1,384	34.1%	15,326	11,074	38.4%
7	Toyota	Fortuner	1,763	1,677	5.1%	17,283	17,215	0.4%
8	Toyota	Yaris	1,691	2,187	-22.7%	11,148	19,424	-42.6%
9	Toyota	Corolla Cross	1,603	1,583	1.3%	13,170	12,743	3.4%
10	Honda	HR-V	1,594	1,092	46.0%	15,108	8,873	70.3%

Source: MarkLines Data Center