Thailand - Automotive Sales volume, 2024

Flash report, December 2024

Jan 28, 2025

*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.

2024 vehicle sales in Thailand down 26.2%, production down 19.9% (detailed report)
According to the Federation of Thai Industries (FTI), December vehicle sales in Thailand decreased 20.9% year over year to 54,016 units. 2024 full year vehicle sales in Thailand decreased 26.2% year over year to 572,675 units. The FTI still mentioned the difficulty in getting auto loans approved under financial institutions’ strict conditions amidst Thailand’s high household debt. Non-performing loans in the automotive sector continued to increase as Thailand’s economy experienced slow growth. Besides, the declining index for total industrial production also led to declining purchasing power of the workers.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in 2024, Toyota was down 17.1% to 220,356 units. Isuzu was down 43.7% to 85,582 units and Honda was down 18.8% to 76,574 units. Mitsubishi sales were down 16.4% to 27,318 units, and BYD sales were down 11.2% to 27,021 units. Among Chinese makers, MG was ranked 7th with 17,239 units, down 36.9%, and Changan was ranked 10th with 8,549 units.
By body type sales in 2024, passenger cars were down 23.4% year over year to 224,148 units, while commercial vehicles were down 27.9% to 348,527 units. Pickup sales included in the commercial vehicle sales were down 38.4% to 200,190 units.
The Toyota Hilux was the bestselling model in 2024 with 76,614 units, followed by Isuzu D-Max with 66,267 units, Toyota Yaris ATIV with 47,538 units, Toyota Yaris Cross with 34,822 units and Honda City with 33,700 units.
New vehicle production in December decreased 17.4% to 104,878 units. In 2024, vehicle production missed the revised target of 1.50 million units as it stood at 1,468,997 units, down 19.9% YoY. HEV production was reported at 190,837 units, while BEV production reached 9,688 units in 2024.
Vehicle exports in December dropped 15.5% to 76,346 units. The 2024 vehicle export decreased 8.8% to 1,019,213 units valued at THB 699 billion, down 2.9%.
FTI anticipates growth of 2.1% in local car production in 2025 with 1.50 million units (1.0 million units for exports and 500,000 units to be sold locally).

Thailand - Production and Retail Sales of new vehicles

	Dec. 2024	Dec. 2023	Growth Y-o-Y (%)	Jan.-Dec. 2024	Jan.-Dec. 2023	Growth YTD (%)
Production	104,878	126,921	-17.4%	1,468,997	1,834,986	-19.9%
Domestic Sales	54,016	68,291	-20.9%	572,675	775,745	-26.2%
Export (CBU)	76,346	90,305	-15.5%	1,019,213	1,117,539	-8.8%

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

* Data is updated regularly, these figures may change.

New vehicle retail sales by major makers

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	20,869	38.6%	24,105	35.3%	-13.4%	220,356	38.5%	265,949	34.3%	-17.1%
Isuzu	8,153	15.1%	10,264	15.0%	-20.6%	85,582	14.9%	151,935	19.6%	-43.7%
Honda	9,252	17.1%	9,820	14.4%	-5.8%	76,574	13.4%	94,336	12.2%	-18.8%
Mitsubishi	2,678	5.0%	2,202	3.2%	21.6%	27,318	4.8%	32,668	4.2%	-16.4%
BYD	1,491	2.8%	4,055	5.9%	-63.2%	27,021	4.7%	30,432	3.9%	-11.2%
Ford	1,842	3.4%	2,828	4.1%	-34.9%	20,893	3.6%	36,483	4.7%	-42.7%
MG	1,737	3.2%	2,518	3.7%	-31.0%	17,239	3.0%	27,311	3.5%	-36.9%
Nissan	857	1.6%	1,387	2.0%	-38.2%	9,427	1.6%	16,423	2.1%	-42.6%
Mazda	855	1.6%	1,033	1.5%	-17.2%	9,220	1.6%	16,544	2.1%	-44.3%
Changan	1,127	2.1%	-	-%	-%	8,549	1.5%	-	-%	-%
Others	5,155	9.5%	10,079	14.8%	-48.9%	70,496	12.3%	103,664	13.4%	-32.0%
Total	54,016	100.0%	68,291	100.0%	-20.9%	572,675	100.0%	775,745	100.0%	-26.2%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	7,128	34.4%	7,258	27.8%	-1.8%	66,912	29.9%	99,292	33.9%	-32.6%
Honda	5,426	26.2%	5,426	20.8%	0.0%	46,595	20.8%	56,723	19.4%	-17.9%
BYD	1,208	5.8%	3,334	12.8%	-63.8%	19,159	8.5%	11,219	3.8%	70.8%
Mitsubishi	1,494	7.2%	1,139	4.4%	31.2%	18,134	8.1%	15,430	5.3%	17.5%
MG	1,239	6.0%	1,742	6.7%	-28.9%	12,739	5.7%	19,049	6.5%	-33.1%
Mazda	476	2.3%	554	2.1%	-14.1%	5,173	2.3%	8,728	3.0%	-40.7%
Neta	0	0.0%	1,779	6.8%	-100.0%	4,844	2.2%	13,836	4.7%	-65.0%
Suzuki	262	1.3%	778	3.0%	-66.3%	4,814	2.1%	9,668	3.3%	-50.2%
GWM	484	2.3%	343	1.3%	41.1%	3,709	1.7%	6,046	2.1%	-38.7%
Nissan	295	1.4%	425	1.6%	-30.6%	3,606	1.6%	6,153	2.1%	-41.4%
Changan	325	1.6%	-	-%	-%	1,662	0.7%	-	-%	-%
Porsche	191	0.9%	141	0.5%	35.5%	1,606	0.7%	1,445	0.5%	11.1%
Hyundai	79	0.4%	210	0.8%	-62.4%	1,104	0.5%	1,521	0.5%	-27.4%
KIA	161	0.8%	154	0.6%	4.5%	937	0.4%	1,242	0.4%	-24.6%
Others	1,959	9.5%	2,858	10.9%	-31.5%	33,154	14.8%	42,153	14.4%	-21.3%
Total	20,727	100.0%	26,141	100.0%	-20.7%	224,148	100.0%	292,505	100.0%	-23.4%

* 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
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota *	13,741	41.3%	16,847	39.9%	-18.4%	153,444	44.0%	166,657	34.5%	-7.9%
Isuzu	8,153	24.5%	10,264	24.3%	-20.6%	85,582	24.6%	151,935	31.4%	-43.7%
Honda	3,826	11.5%	4,394	10.4%	-12.9%	29,979	8.6%	37,613	7.8%	-20.3%
Ford	1,842	5.5%	2,825	6.7%	-34.8%	20,865	6.0%	36,461	7.5%	-42.8%
Mitsubishi	1,184	3.6%	1,063	2.5%	11.4%	9,184	2.6%	17,238	3.6%	-46.7%
BYD	283	0.9%	721	1.7%	-60.7%	7,862	2.3%	19,213	4.0%	-59.1%
Changan	802	2.4%	-	-%	-%	6,887	2.0%	-	-%	-%
Nissan	562	1.7%	962	2.3%	-41.6%	5,821	1.7%	10,270	2.1%	-43.3%
Hino	420	1.3%	2,116	5.0%	-80.2%	4,550	1.3%	11,763	2.4%	-61.3%
MG	498	1.5%	776	1.8%	-35.8%	4,500	1.3%	8,262	1.7%	-45.5%
Mazda	379	1.1%	479	1.1%	-20.9%	4,047	1.2%	7,816	1.6%	-48.2%
GWM	387	1.2%	907	2.2%	-57.3%	3,655	1.0%	6,993	1.4%	-47.7%
Hyundai	299	0.9%	439	1.0%	-31.9%	2,665	0.8%	4,029	0.8%	-33.9%
Neta	0	0.0%	-	-%	-%	1,690	0.5%	-	-%	-%
KIA	105	0.3%	0	0.0%	-%	940	0.3%	11	0.0%	8445.5%
Suzuki	59	0.2%	147	0.3%	-59.9%	840	0.2%	2,483	0.5%	-66.2%
Subaru	39	0.1%	124	0.3%	-68.5%	680	0.2%	1,598	0.3%	-57.4%
CP Foton	37	0.1%	26	0.1%	42.3%	533	0.2%	414	0.1%	28.7%
Peugeot	8	0.0%	60	0.1%	-86.7%	137	0.0%	427	0.1%	-67.9%
Others	665	2.0%	35	0.1%	1800.0%	4,666	1.3%	92	0.0%	4971.7%
Total	33,289	100.0%	42,185	100.0%	-21.1%	348,527	100.0%	483,275	100.0%	-27.9%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
Toyota	8,061	42.6%	10,614	44.2%	-24.1%	91,001	45.5%	128,689	39.6%	-29.3%
Isuzu	7,327	38.8%	9,090	37.8%	-19.4%	74,594	37.3%	136,350	42.0%	-45.3%
Ford	1,842	9.7%	2,825	11.8%	-34.8%	20,865	10.4%	36,461	11.2%	-42.8%
Mitsubishi	1,184	6.3%	1,063	4.4%	11.4%	9,135	4.6%	17,142	5.3%	-46.7%
Nissan	280	1.5%	353	1.5%	-20.7%	2,964	1.5%	4,618	1.4%	-35.8%
MG	161	0.9%	48	0.2%	235.4%	1,124	0.6%	930	0.3%	20.9%
Mazda	30	0.2%	30	0.1%	0.0%	486	0.2%	834	0.3%	-41.7%
GWM	19	0.1%	-	-%	-%	21	0.0%	-	-%	-%
Total	18,904	100.0%	24,023	100.0%	-21.3%	200,190	100.0%	325,024	100.0%	-38.4%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Dec. *1	Share	Dec. *1	Share		Jan.-Dec. *1	Share	Jan.-Dec. *1	Share
Toyota *	4,420	38.2%	5,244	39.3%	-15.7%	50,940	43.3%	28,160	24.6%	80.9%
Honda	3,826	33.0%	4,394	32.9%	-12.9%	29,979	25.5%	37,613	32.9%	-20.3%
Changan	802	6.9%	-	-%	-%	4,071	3.5%	-	-%	-%
GWM	368	3.2%	907	6.8%	-59.4%	3,634	3.1%	6,993	6.1%	-48.0%
Mazda	349	3.0%	449	3.4%	-22.3%	3,561	3.0%	6,982	6.1%	-49.0%
MG	337	2.9%	728	5.4%	-53.7%	3,376	2.9%	7,332	6.4%	-54.0%
Nissan	282	2.4%	608	4.6%	-53.6%	2,855	2.4%	5,487	4.8%	-48.0%
NETA	0	0.0%	-	-%	-%	1,682	1.4%	-	-%	-%
KIA	105	0.9%	-	-%	-%	940	0.8%	-	-%	-%
Subaru	39	0.3%	124	0.9%	-68.5%	680	0.6%	1,598	1.4%	-57.4%
Hyundai	134	1.2%	80	0.6%	67.5%	628	0.5%	443	0.4%	41.8%
Peugeot	8	0.1%	60	0.4%	-86.7%	137	0.1%	427	0.4%	-67.9%
Others	6	0.1%	9	0.1%	-33.3%	93	0.1%	150	0.1%	-38.0%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
GAC	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Jaecoo	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Omoda	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Xpeng	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Zeekr	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	11,578	100.0%	13,359	100.0%	-13.3%	117,660	100.0%	114,486	100.0%	2.8%

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	Dec. 2024	Dec. 2023	Y-o-Y	Jan.-Dec. 2024	Jan.-Dec. 2023	Y-o-Y
1	Toyota	Hilux	3,712	5,274	-29.6%	76,614	114,585	-33.1%
2	Isuzu	D-Max	2,837	5,396	-47.4%	66,267	127,290	-47.9%
3	Toyota	Yaris ATIV	2,224	3,232	-31.2%	47,538	55,527	-14.4%
4	Toyota	Yaris Cross	1,622	1,164	39.3%	34,822	2,100	1558.2%
5	Honda	City	1,564	1,524	2.6%	33,700	43,262	-22.1%
6	Honda	HR-V	502	958	-47.6%	22,161	22,443	-1.3%
7	Ford	Ford Ranger	776	1,151	-32.6%	17,578	28,848	-39.1%
8	Toyota	Corolla Cross	662	809	-18.2%	16,469	19,857	-17.1%
9	Toyota	Fortuner	623	1,031	-39.6%	14,530	25,636	-43.3%
10	BYD Auto	Dolphin	817	2,069	-60.5%	13,386	9,409	42.3%

Source: MarkLines Data Center

Flash report, November 2024

Dec 24, 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.

November vehicle sales in Thailand down 31.3%, production down 28.2% (detailed report)
According to the Federation of Thai Industries (FTI), November vehicle sales in Thailand decreased 31.3% year over year (YoY) to 42,309 units from the same period in 2023. In the first 11 months of 2024, vehicle sales were 518,659 units, a decline of 26.7% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in November, Toyota (including Lexus) was down 21.2% to 17,107 units. Isuzu was down 41.7% to 6,068 units and Honda was down 33.5% to 4,874 units. Mitsubishi is in the 4th position down 1.4% to 2,155 units and BYD sales were down 55.7% to 1,998 units. Among Chinese brands, MG was ranked 7th down 45.9% to 1,353 units, Changan ranked 8th with 1,005 units Neta ranked 9th down 59.6% to 603 units.
By body type, passenger cars were down 26.7% year over year to 18,000 units. Commercial vehicle sales were down 34.4% to 24,309 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 34.7% to 14,435 units. The difficulty in getting auto loans approved under financial institutions’ strict conditions is still the key reason for the sales decline. Thailand’s economic growth slowed. The household debt ratio was 89.6% of GDP (as of Q2/2024), while non-performing loans in the automotive sector continued to increase. The FTI added that a satisfying number of car bookings at the 41st Thailand Motor Expo are expected to boost vehicle sales in the final month of the year.
The Toyota Hilux was the bestselling model (registration base) in November with 4,941 units, followed by Isuzu D-Max with 4,011 units, Toyota Yaris ATIV with 3,555 units, Toyota Yaris Cross with 2,426 units and Honda City with 2,321 units.
The FTI announced that new vehicle production in November was 117,251 units, down 28.2% YoY. Vehicle production for domestic sales and exports in November 2024 contributed 32% and 68% respectively. Production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a double-digit YoY drop. In the first 11 months of 2024, vehicle production reached 1,364,119 units, down 20.1% YoY.
Vehicle exports in November 2024 were 89,646 units, down 10.0% YoY. Exports to almost every country which are Thailand trading partners posted a YoY drop, excluding the North American market. The FTI said this YoY drop was attributable to the high base level in the same period in 2023, the Israel-Hamas conflict escalation disrupting shipping, and China’s economic slowdown. The vehicle export value in November was THB 58.0 billion, down 11.6% year over year. Vehicle exports in the first 11 months of 2024 reached 942,867 units, down 8.2% YoY.

Thailand - Production and Retail Sales of new vehicles

	Nov. 2024	Growth Y-o-Y (%)	Jan.-Nov. 2024	Growth YTD (%)
Production	117,251	-28.2%	1,364,119	-20.1%
Domestic Sales	42,309	-31.3%	518,659	-26.7%
Export (CBU)	89,646	-10.0%	942,867	-8.2%

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
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	17,107	40.4%	21,700	35.2%	-21.2%	199,487	38.5%	241,844	34.2%	-17.5%
Isuzu	6,068	14.3%	10,415	16.9%	-41.7%	77,429	14.9%	141,671	20.0%	-45.3%
Honda	4,874	11.5%	7,328	11.9%	-33.5%	67,322	13.0%	84,516	11.9%	-20.3%
Mitsubishi	2,155	5.1%	2,186	3.5%	-1.4%	24,640	4.8%	30,466	4.3%	-19.1%
BYD	1,998	4.7%	4,512	7.3%	-55.7%	25,530	4.9%	26,377	3.7%	-3.2%
Ford	1,604	3.8%	2,326	3.8%	-31.0%	19,051	3.7%	33,655	4.8%	-43.4%
MG	1,353	3.2%	2,500	4.1%	-45.9%	15,502	3.0%	24,793	3.5%	-37.5%
Changan	1,005	2.4%	-	-%	-%	7,422	1.4%	-	-%	-%
Neta	603	1.4%	1,492	2.4%	-59.6%	6,534	1.3%	12,057	1.7%	-45.8%
Nissan	602	1.4%	1,150	1.9%	-47.7%	8,570	1.7%	15,036	2.1%	-43.0%
Others	4,940	11.7%	8,012	13.0%	-38.3%	67,172	13.0%	97,039	13.7%	-30.8%
Total	42,309	100.0%	61,621	100.0%	-31.3%	518,659	100.0%	707,454	100.0%	-26.7%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	5,751	32.0%	7,512	30.6%	-23.4%	59,784	29.4%	92,034	34.6%	-35.0%
Honda	3,829	21.3%	3,928	16.0%	-2.5%	41,169	20.2%	51,297	19.3%	-19.7%
BYD	1,721	9.6%	3,370	13.7%	-48.9%	17,951	8.8%	7,885	3.0%	127.7%
Mitsubishi	1,461	8.1%	872	3.5%	67.5%	16,640	8.2%	14,291	5.4%	16.4%
MG	977	5.4%	1,848	7.5%	-47.1%	11,500	5.7%	17,307	6.5%	-33.6%
GWM	360	2.0%	821	3.3%	-56.2%	3,225	1.6%	5,703	2.1%	-43.5%
Mazda	342	1.9%	454	1.8%	-24.7%	4,697	2.3%	8,174	3.1%	-42.5%
Changan	319	1.8%	-	-%	-%	1,337	0.7%	-	-%	-%
Neta	315	1.8%	1,492	6.1%	-78.9%	4,844	2.4%	12,057	4.5%	-59.8%
Nissan	235	1.3%	399	1.6%	-41.1%	3,311	1.6%	5,728	2.2%	-42.2%
Suzuki	212	1.2%	568	2.3%	-62.7%	4,552	2.2%	8,890	3.3%	-48.8%
Porsche	132	0.7%	67	0.3%	97.0%	1,415	0.7%	1,304	0.5%	8.5%
KIA	70	0.4%	225	0.9%	-68.9%	776	0.4%	1,088	0.4%	-28.7%
Hyundai	33	0.2%	76	0.3%	-56.6%	1,025	0.5%	1,311	0.5%	-21.8%
Others	2,243	12.5%	2,934	11.9%	-23.6%	31,195	15.3%	39,295	14.8%	-20.6%
Total	18,000	100.0%	24,566	100.0%	-26.7%	203,421	100.0%	266,364	100.0%	-23.6%

* 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
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota *	11,356	46.7%	14,188	38.3%	-20.0%	139,703	44.3%	149,810	34.0%	-6.7%
Isuzu	6,068	25.0%	10,415	28.1%	-41.7%	77,429	24.6%	141,671	32.1%	-45.3%
Ford	1,603	6.6%	2,324	6.3%	-31.0%	19,023	6.0%	33,636	7.6%	-43.4%
Honda	1,045	4.3%	3,400	9.2%	-69.3%	26,153	8.3%	33,219	7.5%	-21.3%
Mitsubishi	694	2.9%	1,314	3.5%	-47.2%	8,000	2.5%	16,175	3.7%	-50.5%
Changan	686	2.8%	-	-%	-%	6,085	1.9%	-	-%	-%
MG	376	1.5%	652	1.8%	-42.3%	4,002	1.3%	7,486	1.7%	-46.5%
Nissan	367	1.5%	751	2.0%	-51.1%	5,259	1.7%	9,308	2.1%	-43.5%
Hino	332	1.4%	1,107	3.0%	-70.0%	4,130	1.3%	9,647	2.2%	-57.2%
Neta	288	1.2%	-	-%	-%	1,690	0.5%	-	-%	-%
BYD	277	1.1%	1,142	3.1%	-75.7%	7,579	2.4%	18,492	4.2%	-59.0%
Mazda	260	1.1%	348	0.9%	-25.3%	3,668	1.2%	7,337	1.7%	-50.0%
GWM	173	0.7%	752	2.0%	-77.0%	3,268	1.0%	6,086	1.4%	-46.3%
Hyundai	143	0.6%	304	0.8%	-53.0%	2,366	0.8%	3,590	0.8%	-34.1%
Suzuki	63	0.3%	178	0.5%	-64.6%	781	0.2%	2,336	0.5%	-66.6%
KIA	58	0.2%	-	-%	-%	835	0.3%	11	0.0%	7490.9%
Subaru	44	0.2%	87	0.2%	-49.4%	641	0.2%	1,474	0.3%	-56.5%
CP Foton	32	0.1%	34	0.1%	-5.9%	496	0.2%	388	0.1%	27.8%
Others	444	1.8%	39	0.1%	1038.5%	4,130	1.3%	371	0.1%	1013.2%
Total	24,309	100.0%	37,035	100.0%	-34.4%	315,238	100.0%	441,037	100.0%	-28.5%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Nov.	Share	Nov.	Share		Jan.-Nov.	Share	Jan.-Nov.	Share
Toyota	6,521	45.2%	8,544	38.7%	-23.7%	82,940	45.8%	118,075	39.2%	-29.8%
Isuzu	5,251	36.4%	9,377	42.4%	-44.0%	67,267	37.1%	127,260	42.3%	-47.1%
Ford	1,603	11.1%	2,324	10.5%	-31.0%	19,023	10.5%	33,636	11.2%	-43.4%
Mitsubishi	694	4.8%	1,312	5.9%	-47.1%	7,951	4.4%	16,079	5.3%	-50.6%
Nissan	203	1.4%	452	2.0%	-55.1%	2,684	1.5%	4,265	1.4%	-37.1%
MG	113	0.8%	71	0.3%	59.2%	963	0.5%	882	0.3%	9.2%
Mazda	48	0.3%	24	0.1%	100.0%	456	0.3%	804	0.3%	-43.3%
GWM	2	0.0%	-	-%	-%	2	0.0%	-	-%	-%
Total	14,435	100.0%	22,104	100.0%	-34.7%	181,286	100.0%	301,001	100.0%	-39.8%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Nov. *1	Share	Nov. *1	Share		Jan.-Nov. *1	Share	Jan.-Nov. *1	Share
Toyota *	3,648	49.7%	4,547	40.5%	-19.8%	46,520	43.9%	22,916	22.7%	103.0%
Honda	1,045	14.2%	3,400	30.3%	-69.3%	26,153	24.7%	33,219	32.8%	-21.3%
Changan	686	9.3%	-	-%	-%	3,269	3.1%	-	-%	-%
Neta	288	3.9%	-	-%	-%	1,682	1.6%	-	-%	-%
MG	263	3.6%	581	5.2%	-54.7%	3,039	2.9%	6,604	6.5%	-54.0%
Mazda	212	2.9%	324	2.9%	-34.6%	3,212	3.0%	6,533	6.5%	-50.8%
GWM	171	2.3%	752	6.7%	-77.3%	3,266	3.1%	6,086	6.0%	-46.3%
Nissan	164	2.2%	299	2.7%	-45.2%	2,573	2.4%	4,879	4.8%	-47.3%
Hyundai	60	0.8%	19	0.2%	215.8%	494	0.5%	363	0.4%	36.1%
KIA	58	0.8%	-	-%	-%	835	0.8%	-	-%	-%
Subaru	44	0.6%	87	0.8%	-49.4%	641	0.6%	1,474	1.5%	-56.5%
Others	6	0.1%	49	0.4%	-87.8%	216	0.2%	508	0.5%	-57.5%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
GAC	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Omoda	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Xpeng	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Zeekr	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	7,347	100.0%	11,220	100.0%	-34.5%	106,082	100.0%	101,127	100.0%	4.9%

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. 2024	Nov. 2023	Y-o-Y	Jan.-Nov. 2024	Jan.-Nov. 2023	Y-o-Y
1	Toyota	Hilux	4,941	8,028	-38.5%	72,909	109,311	-33.3%
2	Isuzu	D-Max	4,011	7,402	-45.8%	63,432	121,894	-48.0%
3	Toyota	Yaris ATIV	3,555	4,847	-26.7%	45,314	52,295	-13.3%
4	Toyota	Yaris Cross	2,426	896	170.8%	33,200	936	3447.0%
5	Honda	City	2,321	2,653	-12.5%	32,136	41,738	-23.0%
6	BYD Auto	Dolphin	1,246	2,825	-55.9%	12,569	7,340	71.2%
7	Mitsubishi	Xpander	1,095	531	106.2%	10,142	10,437	-2.8%
8	Toyota	Corolla Cross	1,090	1,272	-14.3%	15,819	19,048	-17.0%
9	Ford	Ford Ranger	993	1,943	-48.9%	16,803	27,697	-39.3%
10	Isuzu	MU-X	918	1,209	-24.1%	12,526	21,452	-41.6%

Source: MarkLines Data Center

Flash report, October 2024

Dec. 2, 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.

October vehicle sales in Thailand down 36.1%, production down 25.1% (detailed report)
According to the Federation of Thai Industries (FTI), October vehicle sales in Thailand decreased 36.1% year over year (YoY) to 37,691 units from the same period in 2023. In the first 10 months of 2024, vehicle sales were 476,350 units, a decline of 26.2% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in October, Toyota (including Lexus) was down 27.3% to 15,162 units. Isuzu was down 44.4% to 6,092 units and Honda was down 43.4% to 4,137 units. Mitsubishi is in the 4th position up 23.2% to 2,129 units and Ford sales were down 48.3% to 1,316 units. Among Chinese brands, BYD was ranked 6th down 66.3% to 1,295 units, MG was ranked 7th down 56.5% to 1,174 units, Neta ranked 8th down 30.9% to 731 units.
By body type, passenger cars were down 29.7% year over year to 15,559 units. Commercial vehicle sales were down 39.9% to 22,132 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 42.0% to 13,347 units. The FTI revealed that the drop was mainly attributed to difficulty in getting auto loans with financial institutions’ strict conditions in approving loans. Sales of trucks that continued to fall also reflected the local economic health that stayed weak.
The Toyota Hilux was the bestselling model (registration base) in October with 5,060 units, followed by Isuzu D-Max with 3,949 units, Toyota Yaris ATIV with 3,405 units, Toyota Yaris Cross with 2,511 units and Honda City with 2,249 units.
The FTI announced that new vehicle production in October was 118,842 units, down 25.1% YoY. Vehicle production for domestic sales and exports in October 2024 contributed 26.2% and 73.8% respectively. Production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a double-digit YoY drop. In the first 10 months of 2024, vehicle production reached 1,246,868 units, down 19.3% YoY.
Vehicle exports in October 2024 were 84,334 units, down 20.2% YoY. Exports to almost every country which are Thailand trading partners posted a YoY drop. The FTI mentioned the high base level in the same period in 2023 and exports to the Middle East which were still hampered by the ongoing crisis. Moreover, the escalating Russo-Ukrainian War, which may negatively impact exports of vehicles and other products, must be monitored closely. Vehicle exports in the first 10 months of 2024 reached 853,221 units, down 8.0% YoY.
The FTI has cut its 2024 vehicle production target by another 200,000 units to 1.5 million units (1.05 million units for exports and 450,000 units for domestic sales, previously: 1.7 million units (1.15 million units for exports and 550,000 units for domestic sales).

Thailand - Production and Retail Sales of new vehicles

	Oct. 2024	Growth Y-o-Y (%)	Jan.-Oct. 2024	Growth YTD (%)
Production	118,842	-25.1%	1,246,868	-19.3%
Domestic Sales	37,691	-36.1%	476,350	-26.2%
Export (CBU)	84,334	-20.2%	853,221	-8.0%

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
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	15,162	40.2%	20,852	35.4%	-27.3%	182,380	38.3%	220,144	34.1%	-17.2%
Isuzu	6,092	16.2%	10,962	18.6%	-44.4%	71,361	15.0%	131,256	20.3%	-45.6%
Honda	4,137	11.0%	7,306	12.4%	-43.4%	62,448	13.1%	77,188	12.0%	-19.1%
Mitsubishi	2,129	5.6%	1,728	2.9%	23.2%	22,485	4.7%	28,280	4.4%	-20.5%
Ford	1,316	3.5%	2,543	4.3%	-48.3%	17,447	3.7%	31,329	4.9%	-44.3%
BYD	1,295	3.4%	3,840	6.5%	-66.3%	23,532	4.9%	21,865	3.4%	7.6%
MG	1,174	3.1%	2,700	4.6%	-56.5%	14,149	3.0%	22,293	3.5%	-36.5%
Neta	731	1.9%	1,058	1.8%	-30.9%	5,931	1.2%	10,565	1.6%	-43.9%
Mazda	603	1.6%	977	1.7%	-38.3%	7,763	1.6%	14,709	2.3%	-47.2%
Nissan	600	1.6%	919	1.6%	-34.7%	7,968	1.7%	13,886	2.2%	-42.6%
Others	4,452	11.8%	6,078	10.3%	-26.8%	60,886	12.8%	74,318	11.5%	-18.1%
Total	37,691	100.0%	58,963	100.0%	-36.1%	476,350	100.0%	645,833	100.0%	-26.2%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	5,210	33.5%	7,165	32.4%	-27.3%	54,033	29.1%	84,522	35.0%	-36.1%
Honda	3,359	21.6%	3,462	15.6%	-3.0%	37,340	20.1%	47,369	19.6%	-21.2%
Mitsubishi	1,439	9.2%	743	3.4%	93.7%	15,179	8.2%	13,419	5.5%	13.1%
BYD	831	5.3%	2,413	10.9%	-65.6%	16,230	8.8%	4,515	1.9%	259.5%
MG	754	4.8%	2,127	9.6%	-64.6%	10,523	5.7%	15,459	6.4%	-31.9%
Mazda	337	2.2%	577	2.6%	-41.6%	4,355	2.3%	7,720	3.2%	-43.6%
Neta	313	2.0%	1,058	4.8%	-70.4%	4,529	2.4%	10,565	4.4%	-57.1%
GWM	292	1.9%	561	2.5%	-48.0%	2,865	1.5%	4,882	2.0%	-41.3%
Nissan	274	1.8%	330	1.5%	-17.0%	3,076	1.7%	5,329	2.2%	-42.3%
Suzuki	213	1.4%	628	2.8%	-66.1%	4,340	2.3%	8,322	3.4%	-47.8%
Porsche	108	0.7%	100	0.5%	8.0%	1,283	0.7%	1,237	0.5%	3.7%
Changan	98	0.6%	-	-%	-%	1,018	0.5%	-	-%	-%
KIA	57	0.4%	71	0.3%	-19.7%	706	0.4%	863	0.4%	-18.2%
Hyundai	20	0.1%	105	0.5%	-81.0%	992	0.5%	1,235	0.5%	-19.7%
Others	2,254	14.5%	2,790	12.6%	-19.2%	28,952	15.6%	36,361	15.0%	-20.4%
Total	15,559	100.0%	22,130	100.0%	-29.7%	185,421	100.0%	241,798	100.0%	-23.3%

* 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
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota *	9,952	45.0%	13,687	37.2%	-27.3%	128,347	44.1%	135,622	33.6%	-5.4%
Isuzu	6,092	27.5%	10,962	29.8%	-44.4%	71,361	24.5%	131,256	32.5%	-45.6%
Ford	1,316	5.9%	2,539	6.9%	-48.2%	17,420	6.0%	31,312	7.8%	-44.4%
Honda	778	3.5%	3,844	10.4%	-79.8%	25,108	8.6%	29,819	7.4%	-15.8%
Mitsubishi	690	3.1%	985	2.7%	-29.9%	7,306	2.5%	14,861	3.7%	-50.8%
BYD	464	2.1%	1,427	3.9%	-67.5%	7,302	2.5%	17,350	4.3%	-57.9%
MG	420	1.9%	573	1.6%	-26.7%	3,626	1.2%	6,834	1.7%	-46.9%
Neta	418	1.9%	-	-%	-%	1,402	0.5%	-	-%	-%
Hino	372	1.7%	626	1.7%	-40.6%	3,798	1.3%	8,540	2.1%	-55.5%
Nissan	326	1.5%	589	1.6%	-44.7%	4,892	1.7%	8,557	2.1%	-42.8%
Mazda	266	1.2%	400	1.1%	-33.5%	3,408	1.2%	6,989	1.7%	-51.2%
GWM	209	0.9%	554	1.5%	-62.3%	3,095	1.1%	5,334	1.3%	-42.0%
Changan	116	0.5%	-	-%	-%	5,399	1.9%	-	-%	-%
Hyundai	111	0.5%	336	0.9%	-67.0%	2,223	0.8%	3,286	0.8%	-32.3%
KIA	87	0.4%	-	-%	-%	777	0.3%	11	0.0%	6963.6%
Suzuki	58	0.3%	177	0.5%	-67.2%	718	0.2%	2,158	0.5%	-66.7%
Subaru	40	0.2%	51	0.1%	-21.6%	597	0.2%	1,387	0.3%	-57.0%
Others	417	1.9%	81	0.2%	414.8%	4,150	1.4%	686	0.2%	505.0%
Total	22,132	100.0%	36,831	100.0%	-39.9%	290,929	100.0%	404,002	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
	Oct.	Share	Oct.	Share		Jan.-Oct.	Share	Jan.-Oct.	Share
Toyota	5,787	43.4%	9,338	40.6%	-38.0%	76,419	45.8%	109,531	39.3%	-30.2%
Isuzu	5,204	39.0%	9,725	42.3%	-46.5%	62,016	37.2%	117,883	42.3%	-47.4%
Ford	1,316	9.9%	2,539	11.0%	-48.2%	17,420	10.4%	31,312	11.2%	-44.4%
Mitsubishi	690	5.2%	977	4.2%	-29.4%	7,257	4.3%	14,767	5.3%	-50.9%
Nissan	199	1.5%	308	1.3%	-35.4%	2,481	1.5%	3,813	1.4%	-34.9%
MG	143	1.1%	73	0.3%	95.9%	850	0.5%	811	0.3%	4.8%
Mazda	8	0.1%	38	0.2%	-78.9%	408	0.2%	780	0.3%	-47.7%
Total	13,347	100.0%	22,998	100.0%	-42.0%	166,851	100.0%	278,897	100.0%	-40.2%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Oct. *1	Share	Oct. *1	Share		Jan.-Oct. *1	Share	Jan.-Oct. *1	Share
Toyota *	3,059	48.9%	3,433	32.6%	-10.9%	42,872	43.4%	18,369	20.4%	133.4%
Honda	778	12.4%	3,844	36.5%	-79.8%	25,108	25.4%	29,819	33.2%	-15.8%
Neta	418	6.7%	-	-%	-%	1,394	1.4%	-	-%	-%
MG	277	4.4%	500	4.7%	-44.6%	2,776	2.8%	6,023	6.7%	-53.9%
Mazda	258	4.1%	362	3.4%	-28.7%	3,000	3.0%	6,209	6.9%	-51.7%
GWM	209	3.3%	554	5.3%	-62.3%	3,095	3.1%	5,334	5.9%	-42.0%
Nissan	127	2.0%	278	2.6%	-54.3%	2,409	2.4%	4,580	5.1%	-47.4%
Changan	116	1.9%	-	-%	-%	2,583	2.6%	-	-%	-%
KIA	87	1.4%	-	-%	-%	777	0.8%	-	-%	-%
Subaru	40	0.6%	51	0.5%	-21.6%	597	0.6%	1,387	1.5%	-57.0%
Hyundai	30	0.5%	25	0.2%	20.0%	434	0.4%	344	0.4%	26.2%
Others	5	0.1%	54	0.5%	-90.7%	210	0.2%	459	0.5%	-54.2%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
GAC	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Xpeng	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Zeekr	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	6,255	100.0%	10,530	100.0%	-40.6%	98,735	100.0%	89,907	100.0%	9.8%

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	Oct, 2024	Oct, 2023	Y-o-Y	Jan.-Oct, 2024	Jan.-Oct, 2023	Y-o-Y
1	Toyota	Hilux	5,060	7,693	-34.2%	67,968	101,283	-32.9%
2	Isuzu	D-Max	3,949	7,177	-45.0%	59,421	114,492	-48.1%
3	Toyota	Yaris ATIV	3,405	5,227	-34.9%	41,759	47,448	-12.0%
4	Toyota	Yaris Cross	2,511	40	6177.5%	30,774	40	76835.0%
5	Honda	City	2,249	2,666	-15.6%	29,815	39,085	-23.7%
6	Toyota	Corolla Cross	1,183	1,227	-3.6%	14,729	17,776	-17.1%
7	Ford	Ford Ranger	1,136	1,931	-41.2%	15,810	25,754	-38.6%
8	Mitsubishi	Xpander	1,078	595	81.2%	9,047	9,906	-8.7%
9	Honda	HR-V	1,059	1,535	-31.0%	20,956	20,041	4.6%
10	Isuzu	MU-X	973	1,367	-28.8%	11,608	20,243	-42.7%

Source: MarkLines Data Center

Flash report, September 2024

Oct 24, 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.

September vehicle sales in Thailand down 37.1%, production down 25.5% (detailed report)
According to the Federation of Thai Industries (FTI), September vehicle sales in Thailand decreased 37.1% year over year (YoY) to 39,048 units from the same period in 2023. In the first 9 months of 2024, vehicle sales were 438,659 units, a decline of 25.3% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in September, Toyota (including Lexus) was down 27.6% to 15,311 units. Isuzu was down 44.2% to 6,080 units and Honda was down 52.1% to 4,365 units. Mitsubishi is in the 4th position down 0.8% to 2,093 units and Ford sales were down 53.4% to 1,374 units. Among Chinese brands, BYD was ranked 6th down 57.9% to 1,359 units, MG was ranked 7th down 46.3% to 1,304 units, Neta ranked 8th down 12.2% to 838 units and GWM ranked 9th down 36.0% to 660 units.
By body type, passenger cars were down 38.4% year over year to 15,668 units. Commercial vehicle sales were down 36.2% to 23,380 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 40.1% to 13,972 units. According to the FTI, the difficulty in getting auto loans with stricter loan conditions remains the key reason for the sales drop.
The Toyota Hilux was the bestselling model (registration base) in September with 5,797 units, followed by Isuzu D-Max with 4,192 units, Toyota Yaris ATIV with 3,861 units, Toyota Yaris Cross with 2,592 units and Honda City with 2,401 units.
The FTI announced that new vehicle production in September was 122,277 units, down 25.5% YoY. Vehicle production for domestic sales and exports in September 2024 contributed 28.3% and 71.7% respectively. Production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a double-digit YoY drop. In the first nine months of 2024, vehicle production reached 1,128,026 units, down 18.6% YoY.
Vehicle exports in September 2024 were 80,254 units, down 17.7% YoY. The FTI pointed out that exports to the Middle East were still impacted by the escalating crisis. Exports to almost every country which are Thailand trading partners posted a YoY drop, excluding Australia. The vehicle export value in September was THB 52.9 billion, down 15.4% year over year. Vehicle exports in the first 9 months of 2024 reached 768,887 units, down 6.4% YoY.
The FTI Automotive club revealed that it will discuss the downgrade of current 2024 vehicle production target of 1.7 million units and announce the new target in November.

Thailand - Production and Retail Sales of new vehicles

	Sep. 2024	Growth Y-o-Y (%)	Jan.-Sep. 2024	Growth YTD (%)
Production	122,277	-25.5%	1,128,026	-18.6%
Domestic Sales	39,048	-37.1%	438,659	-25.3%
Export (CBU)	80,254	-17.7%	768,887	-6.4%

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
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	15,311	39.2%	21,141	34.1%	-27.6%	167,218	38.1%	199,292	34.0%	-16.1%
Isuzu	6,080	15.6%	10,898	17.6%	-44.2%	65,269	14.9%	120,294	20.5%	-45.7%
Honda	4,365	11.2%	9,113	14.7%	-52.1%	58,311	13.3%	69,882	11.9%	-16.6%
Mitsubishi	2,093	5.4%	2,109	3.4%	-0.8%	20,356	4.6%	26,552	4.5%	-23.3%
Ford	1,374	3.5%	2,948	4.7%	-53.4%	16,131	3.7%	28,786	4.9%	-44.0%
BYD	1,359	3.5%	3,231	5.2%	-57.9%	22,237	5.1%	18,025	3.1%	23.4%
MG	1,304	3.3%	2,427	3.9%	-46.3%	12,975	3.0%	19,593	3.3%	-33.8%
Neta	838	2.1%	954	1.5%	-12.2%	5,200	1.2%	9,507	1.6%	-45.3%
GWM	660	1.7%	1,031	1.7%	-36.0%	5,459	1.2%	9,101	1.6%	-40.0%
Mazda	615	1.6%	1,247	2.0%	-50.7%	7,160	1.6%	13,732	2.3%	-47.9%
Others	5,049	12.9%	6,987	11.3%	-27.7%	58,343	13.3%	72,106	12.3%	-19.1%
Total	39,048	100.0%	62,086	100.0%	-37.1%	438,659	100.0%	586,870	100.0%	-25.3%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	4,692	29.9%	9,922	39.0%	-52.7%	48,823	28.7%	77,357	35.2%	-36.9%
Honda	3,426	21.9%	4,212	16.6%	-18.7%	33,981	20.0%	43,907	20.0%	-22.6%
Mitsubishi	1,395	8.9%	1,083	4.3%	28.8%	13,740	8.1%	12,676	5.8%	8.4%
MG	894	5.7%	1,864	7.3%	-52.0%	9,769	5.8%	13,332	6.1%	-26.7%
Neta	509	3.2%	954	3.8%	-46.6%	4,216	2.5%	9,507	4.3%	-55.7%
BYD	473	3.0%	1,621	6.4%	-70.8%	15,399	9.1%	2,102	1.0%	632.6%
GWM	468	3.0%	618	2.4%	-24.3%	2,573	1.5%	4,321	2.0%	-40.5%
Mazda	356	2.3%	705	2.8%	-49.5%	4,018	2.4%	7,143	3.3%	-43.7%
Nissan	243	1.6%	413	1.6%	-41.2%	2,802	1.6%	4,999	2.3%	-43.9%
Suzuki	239	1.5%	598	2.4%	-60.0%	4,127	2.4%	7,694	3.5%	-46.4%
Porsche	109	0.7%	82	0.3%	32.9%	1,175	0.7%	1,137	0.5%	3.3%
Changan	66	0.4%	-	-%	-%	920	0.5%	-	-%	-%
KIA	53	0.3%	125	0.5%	-57.6%	649	0.4%	792	0.4%	-18.1%
Hyundai	31	0.2%	125	0.5%	-75.2%	972	0.6%	1,130	0.5%	-14.0%
Others	2,714	17.3%	3,103	12.2%	-12.5%	26,698	15.7%	33,571	15.3%	-20.5%
Total	15,668	100.0%	25,425	100.0%	-38.4%	169,862	100.0%	219,668	100.0%	-22.7%

* 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
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota *	10,619	45.4%	11,219	30.6%	-5.3%	118,395	44.0%	121,935	33.2%	-2.9%
Isuzu	6,080	26.0%	10,898	29.8%	-44.2%	65,269	24.3%	120,294	32.8%	-45.7%
Ford	1,374	5.9%	2,946	8.0%	-53.4%	16,104	6.0%	28,773	7.8%	-44.0%
Honda	939	4.0%	4,901	13.4%	-80.8%	24,330	9.1%	25,975	7.1%	-6.3%
BYD	886	3.8%	1,610	4.4%	-45.0%	6,838	2.5%	15,923	4.3%	-57.1%
Mitsubishi	698	3.0%	1,026	2.8%	-32.0%	6,616	2.5%	13,876	3.8%	-52.3%
Hino	413	1.8%	848	2.3%	-51.3%	3,426	1.3%	7,914	2.2%	-56.7%
MG	410	1.8%	563	1.5%	-27.2%	3,206	1.2%	6,261	1.7%	-48.8%
Nissan	357	1.5%	890	2.4%	-59.9%	4,566	1.7%	7,968	2.2%	-42.7%
Neta	329	1.4%	-	-%	-%	984	0.4%	-	-%	-%
Changan	282	1.2%	-	-%	-%	5,283	2.0%	-	-%	-%
Mazda	259	1.1%	542	1.5%	-52.2%	3,142	1.2%	6,589	1.8%	-52.3%
GWM	192	0.8%	413	1.1%	-53.5%	2,886	1.1%	4,780	1.3%	-39.6%
Hyundai	112	0.5%	390	1.1%	-71.3%	2,112	0.8%	2,950	0.8%	-28.4%
KIA	62	0.3%	-	-%	-%	690	0.3%	11	0.0%	6172.7%
Suzuki	43	0.2%	170	0.5%	-74.7%	660	0.2%	1,981	0.5%	-66.7%
Subaru	23	0.1%	110	0.3%	-79.1%	557	0.2%	1,336	0.4%	-58.3%
CP Foton	11	0.0%	62	0.2%	-82.3%	454	0.2%	314	0.1%	44.6%
Others	291	1.2%	42	0.1%	592.9%	3,279	1.2%	291	0.1%	1026.8%
Total	23,380	100.0%	36,630	100.0%	-36.2%	268,797	100.0%	367,171	100.0%	-26.8%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Sep.	Share	Sep.	Share		Jan.-Sep.	Share	Jan.-Sep.	Share
Toyota	6,488	46.4%	9,547	40.9%	-32.0%	70,632	46.0%	100,193	39.2%	-29.5%
Isuzu	5,101	36.5%	9,298	39.8%	-45.1%	56,812	37.0%	108,158	42.3%	-47.5%
Ford	1,374	9.8%	2,946	12.6%	-53.4%	16,104	10.5%	28,773	11.2%	-44.0%
Mitsubishi	698	5.0%	1,012	4.3%	-31.0%	6,567	4.3%	13,790	5.4%	-52.4%
Nissan	201	1.4%	399	1.7%	-49.6%	2,282	1.5%	3,505	1.4%	-34.9%
MG	106	0.8%	75	0.3%	41.3%	707	0.5%	738	0.3%	-4.2%
Mazda	4	0.0%	66	0.3%	-93.9%	400	0.3%	742	0.3%	-46.1%
Total	13,972	100.0%	23,343	100.0%	-40.1%	153,504	100.0%	255,899	100.0%	-40.0%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Sep. *1	Share	Sep. *1	Share		Jan.-Sep. *1	Share	Jan.-Sep. *1	Share
Toyota *	3,117	45.5%	962	10.0%	224.0%	39,813	43.1%	14,936	18.8%	166.6%
Honda	939	13.7%	4,901	51.2%	-80.8%	24,330	26.3%	25,975	32.7%	-6.3%
Neta	329	4.8%	-	-%	-%	976	1.1%	-	-%	-%
MG	304	4.4%	488	5.1%	-37.7%	2,499	2.7%	5,523	7.0%	-54.8%
Changan	282	4.1%	-	-%	-%	2,467	2.7%	-	-%	-%
Mazda	255	3.7%	476	5.0%	-46.4%	2,742	3.0%	5,847	7.4%	-53.1%
GWM	192	2.8%	413	4.3%	-53.5%	2,886	3.1%	4,780	6.0%	-39.6%
Nissan	156	2.3%	488	5.1%	-68.0%	2,282	2.5%	4,302	5.4%	-47.0%
KIA	62	0.9%	-	-%	-%	690	0.7%	-	-%	-%
Hyundai	25	0.4%	38	0.4%	-34.2%	404	0.4%	319	0.4%	26.6%
Subaru	23	0.3%	110	1.1%	-79.1%	557	0.6%	1,336	1.7%	-58.3%
Others	6	0.1%	63	0.7%	-90.5%	205	0.2%	405	0.5%	-49.4%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
GAC	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	6,851	100.0%	9,580	100.0%	-28.5%	92,480	100.0%	79,377	100.0%	16.5%

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	Sep. 2024	Sep. 2023	Y-o-Y	Jan.-Sep. 2024	Jan.-Sep. 2023	Y-o-Y
1	Toyota	Hilux	5,797	8,452	-31.4%	62,908	93,590	-32.8%
2	Isuzu	D-Max	4,192	8,282	-49.4%	55,472	107,315	-48.3%
3	Toyota	Yaris ATIV	3,861	4,279	-9.8%	38,354	42,221	-9.2%
4	Toyota	Yaris Cross	2,592	-	-%	28,263	-	-%
5	Honda	City	2,401	2,974	-19.3%	27,566	36,419	-24.3%
6	Honda	HR-V	1,716	1,504	14.1%	19,897	18,506	7.5%
7	Toyota	Corolla Cross	1,257	1,524	-17.5%	13,546	16,549	-18.1%
8	Ford	Ford Ranger	1,256	2,182	-42.4%	14,674	23,823	-38.4%
9	Mitsubishi	Xpander	1,159	718	61.4%	7,969	9,311	-14.4%
10	Isuzu	MU-X	1,065	1,654	-35.6%	10,635	18,876	-43.7%

Source: MarkLines Data Center

Flash report, August 2024

Sep 24, 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.

August vehicle sales in Thailand down 25.0%, production down 20.6% (detailed report)
According to the Federation of Thai Industries (FTI), August vehicle sales in Thailand decreased 25.0% year over year (YoY) to 45,190 units from the same period in 2023. In the first 8 months of 2024, vehicle sales were 399,611 units, a decline of 23.9% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in August, Toyota (including Lexus) was down 14.5% to 17,843 units. Isuzu was down 46.0% to 6,145 units and Honda was down 29.3% to 5,005 units. BYD is in the 4th position up 53.6% to 3,457 units and Mitsubishi sales were down 2.9% to 2,041 units. Among other Chinese brands, MG was ranked 6th down 25.8% to 1,575 units and Neta ranked 8th up 46.2% to 1,447 units.
By body type, passenger cars were down 22.6% year over year to 18,305 units. Commercial vehicle sales were down 26.5% to 26,885 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 39.2% to 14,970 units. The difficulty in getting auto loans remains the key reason for the decline in sales amid rising non-performing loans in the auto sector.
The Toyota Hilux was the bestselling model (registration base) in August with 6,234 units, followed by Isuzu D-Max with 4,426 units, Toyota Yaris ATIV with 3,885 units, Toyota Yaris Cross with 2,984 units and Honda City with 2,752 units.
The FTI announced that new vehicle production in August was 119,680 units, down 20.6% YoY. Vehicle production for domestic sales and exports in August 2024 contributed 30.8% and 69.2% respectively. Production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a YoY drop. In the first eight months of 2024, vehicle production reached 1,005,749 units, down 17.7% YoY.
Vehicle exports in August 2024 were 86,066 units, down 1.7% YoY. The negative factors mentioned by the FTI included the ongoing Israel–Hamas war that hampered exports to the Middle East. Exports to Australia, Africa, and Europe also saw a YoY decline. The vehicle export value in August was THB 60.3 billion, up 0.2% year over year. Vehicle exports in the first 8 months of 2024 reached 688,633 units, down 4.9% YoY.
The Thai economy in the final quarter of 2024 is expected to improve, supported by the urgent policies under the new Prime Minister Paetongtarn and the disbursement of the FY 2025 budget. The Stock Exchange of Thailand (SET) Index is also expected to increase by the end of the year, along with the recently announced U.S. Fed rate cuts.

Thailand - Production and Retail Sales of new vehicles

	Aug. 2024	Growth Y-o-Y (%)	Jan.-Aug. 2024	Growth YTD (%)
Production	119,680	-20.6%	1,005,749	-17.7%
Domestic Sales	45,190	-25.0%	399,611	-23.9%
Export (CBU)	86,066	-1.7%	688,633	-4.9%

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
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	17,843	39.5%	20,871	34.6%	-14.5%	151,907	38.0%	178,151	33.9%	-14.7%
Isuzu	6,145	13.6%	11,380	18.9%	-46.0%	59,189	14.8%	109,396	20.8%	-45.9%
Honda	5,005	11.1%	7,084	11.8%	-29.3%	53,946	13.5%	60,769	11.6%	-11.2%
BYD	3,457	7.6%	2,251	3.7%	53.6%	20,878	5.2%	14,794	2.8%	41.1%
Mitsubishi	2,041	4.5%	2,103	3.5%	-2.9%	18,263	4.6%	24,443	4.7%	-25.3%
MG	1,575	3.5%	2,122	3.5%	-25.8%	11,671	2.9%	17,166	3.3%	-32.0%
Ford	1,501	3.3%	2,956	4.9%	-49.2%	14,757	3.7%	25,838	4.9%	-42.9%
Neta	1,447	3.2%	990	1.6%	46.2%	4,362	1.1%	8,553	1.6%	-49.0%
Mazda	700	1.5%	1,379	2.3%	-49.2%	6,545	1.6%	12,485	2.4%	-47.6%
Nissan	670	1.5%	1,227	2.0%	-45.4%	6,768	1.7%	11,664	2.2%	-42.0%
Others	4,806	10.6%	7,871	13.1%	-38.9%	51,325	12.8%	61,525	11.7%	-16.6%
Total	45,190	100.0%	60,234	100.0%	-25.0%	399,611	100.0%	524,784	100.0%	-23.9%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	5,554	30.3%	8,346	35.3%	-33.5%	44,131	28.6%	67,435	34.7%	-34.6%
Honda	3,302	18.0%	4,348	18.4%	-24.1%	30,555	19.8%	39,695	20.4%	-23.0%
BYD	2,170	11.9%	481	2.0%	351.1%	14,926	9.7%	481	0.2%	3003.1%
Mitsubishi	1,375	7.5%	929	3.9%	48.0%	12,345	8.0%	11,593	6.0%	6.5%
MG	1,177	6.4%	1,592	6.7%	-26.1%	8,875	5.8%	11,468	5.9%	-22.6%
Neta	800	4.4%	990	4.2%	-19.2%	3,707	2.4%	8,553	4.4%	-56.7%
Mazda	426	2.3%	760	3.2%	-43.9%	3,662	2.4%	6,438	3.3%	-43.1%
Suzuki	280	1.5%	692	2.9%	-59.5%	3,888	2.5%	7,096	3.7%	-45.2%
Nissan	214	1.2%	501	2.1%	-57.3%	2,559	1.7%	4,586	2.4%	-44.2%
GWM	131	0.7%	629	2.7%	-79.2%	2,105	1.4%	3,703	1.9%	-43.2%
Changan	88	0.5%	-	-%	-%	854	0.6%	-	-%	-%
Porsche	71	0.4%	95	0.4%	-25.3%	1,066	0.7%	1,055	0.5%	1.0%
Hyundai	42	0.2%	170	0.7%	-75.3%	941	0.6%	1,005	0.5%	-6.4%
KIA	35	0.2%	15	0.1%	133.3%	596	0.4%	667	0.3%	-10.6%
Others	2,640	14.4%	4,097	17.3%	-35.6%	23,984	15.6%	30,468	15.7%	-21.3%
Total	18,305	100.0%	23,645	100.0%	-22.6%	154,194	100.0%	194,243	100.0%	-20.6%

* 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
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota *	12,289	45.7%	12,525	34.2%	-1.9%	107,776	43.9%	110,716	33.5%	-2.7%
Isuzu	6,145	22.9%	11,380	31.1%	-46.0%	59,189	24.1%	109,396	33.1%	-45.9%
Honda	1,703	6.3%	2,736	7.5%	-37.8%	23,391	9.5%	21,074	6.4%	11.0%
Ford	1,501	5.6%	2,956	8.1%	-49.2%	14,730	6.0%	25,827	7.8%	-43.0%
BYD	1,287	4.8%	1,770	4.8%	-27.3%	5,952	2.4%	14,313	4.3%	-58.4%
Mitsubishi	666	2.5%	1,174	3.2%	-43.3%	5,918	2.4%	12,850	3.9%	-53.9%
Neta	647	2.4%	-	-%	-%	655	0.3%	-	-%	-%
Nissan	456	1.7%	726	2.0%	-37.2%	4,209	1.7%	7,078	2.1%	-40.5%
MG	398	1.5%	530	1.4%	-24.9%	2,796	1.1%	5,698	1.7%	-50.9%
Hino	360	1.3%	961	2.6%	-62.5%	3,013	1.2%	7,066	2.1%	-57.4%
Changan	316	1.2%	-	-%	-%	5,001	2.0%	-	-%	-%
Mazda	274	1.0%	619	1.7%	-55.7%	2,883	1.2%	6,047	1.8%	-52.3%
GWM	179	0.7%	442	1.2%	-59.5%	2,694	1.1%	4,367	1.3%	-38.3%
KIA	153	0.6%	-	-%	-%	628	0.3%	11	0.0%	5609.1%
Hyundai	126	0.5%	380	1.0%	-66.8%	2,000	0.8%	2,560	0.8%	-21.9%
Suzuki	51	0.2%	209	0.6%	-75.6%	617	0.3%	1,811	0.5%	-65.9%
CP Foton	22	0.1%	43	0.1%	-48.8%	443	0.2%	252	0.1%	75.8%
Subaru	18	0.1%	117	0.3%	-84.6%	534	0.2%	1,226	0.4%	-56.4%
Others	294	1.1%	21	0.1%	1300.0%	2,988	1.2%	249	0.1%	1100.0%
Total	26,885	100.0%	36,589	100.0%	-26.5%	245,417	100.0%	330,541	100.0%	-25.8%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Aug.	Share	Aug.	Share		Jan.-Aug.	Share	Jan.-Aug.	Share
Toyota	7,086	47.3%	10,014	40.7%	-29.2%	64,144	46.0%	90,646	39.0%	-29.2%
Isuzu	5,275	35.2%	9,999	40.6%	-47.2%	51,711	37.1%	98,860	42.5%	-47.7%
Ford	1,501	10.0%	2,956	12.0%	-49.2%	14,730	10.6%	25,827	11.1%	-43.0%
Mitsubishi	666	4.4%	1,168	4.7%	-43.0%	5,869	4.2%	12,778	5.5%	-54.1%
Nissan	280	1.9%	376	1.5%	-25.5%	2,081	1.5%	3,106	1.3%	-33.0%
MG	151	1.0%	48	0.2%	214.6%	601	0.4%	663	0.3%	-9.4%
Mazda	11	0.1%	61	0.2%	-82.0%	396	0.3%	676	0.3%	-41.4%
Total	14,970	100.0%	24,622	100.0%	-39.2%	139,532	100.0%	232,556	100.0%	-40.0%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Aug. *1	Share	Aug. *1	Share		Jan.-Aug. *1	Share	Jan.-Aug. *1	Share
Toyota *	4,153	44.0%	1,730	20.9%	140.1%	36,696	42.9%	13,974	20.0%	162.6%
Honda	1,703	18.0%	2,736	33.1%	-37.8%	23,391	27.3%	21,074	30.2%	11.0%
Neta	647	6.8%	-	-%	-%	647	0.8%	-	-%	-%
Changan	316	3.3%	-	-%	-%	2,185	2.6%	-	-%	-%
Mazda	263	2.8%	558	6.8%	-52.9%	2,487	2.9%	5,371	7.7%	-53.7%
MG	247	2.6%	482	5.8%	-48.8%	2,195	2.6%	5,035	7.2%	-56.4%
GWM	179	1.9%	442	5.3%	-59.5%	2,694	3.1%	4,367	6.3%	-38.3%
Nissan	176	1.9%	348	4.2%	-49.4%	2,126	2.5%	3,814	5.5%	-44.3%
KIA	153	1.6%	-	-%	-%	628	0.7%	-	-%	-%
Subaru	18	0.2%	117	1.4%	-84.6%	534	0.6%	1,226	1.8%	-56.4%
Hyundai	13	0.1%	50	0.6%	-74.0%	379	0.4%	281	0.4%	34.9%
Others	9	0.1%	31	0.4%	-71.0%	199	0.2%	342	0.5%	-41.8%
GAC	N/A	-%	N/A	-%	-%	1,071	1.3%	N/A	-%	-%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	9,449	100.0%	8,264	100.0%	14.3%	85,629	100.0%	69,797	100.0%	22.7%

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	Aug. 2024	Aug. 2023	Y-o-Y	Jan.-Aug. 2024	Jan.-Aug. 2023	Y-o-Y
1	Toyota	Hilux	6,234	10,218	-39.0%	57,111	85,138	-32.9%
2	Isuzu	D-Max	4,426	9,700	-54.4%	51,280	99,033	-48.2%
3	Toyota	Yaris ATIV	3,885	4,280	-9.2%	34,493	37,942	-9.1%
4	Toyota	Yaris Cross	2,984	-	-%	25,671	-	-%
5	Honda	City	2,752	3,824	-28.0%	25,165	33,445	-24.8%
6	BYD Auto	Dolphin	2,046	481	325.4%	10,273	481	2035.8%
7	Honda	HR-V	2,028	1,894	7.1%	18,181	17,002	6.9%
8	Toyota	Corolla Cross	1,522	1,858	-18.1%	12,289	15,025	-18.2%
9	Ford	Ford Ranger	1,376	2,552	-46.1%	13,418	21,641	-38.0%
10	BYD Auto	Yuan PLUS / ATTO 3	1,282	1,770	-27.6%	5,922	14,313	-58.6%

Source: MarkLines Data Center

Flash report, July 2024

Aug 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.

July vehicle sales in Thailand down 20.6%, production down 16.6% (detailed report)
According to the Federation of Thai Industries (FTI), July vehicle sales in Thailand decreased 20.6% year over year (YoY) to 46,394 units from the same period in 2023. In the first 7 months of 2024, vehicle sales were 354,421 units, a decline of 23.7% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in July, Toyota (including Lexus) was down 12.9% to 17,786 units. Isuzu was down 42.2% to 6,784 units and Honda was down 27.9% to 5,442 units. BYD is in the 4th position up 95.2% to 2,686 units and Ford sales were down 29.2% to 1,949 units. Among other Chinese brands, MG was ranked 7th down 39.2% to 1,200 units and Great Wall Motor ranked 10th down 44.5% to 431 units.
By body type, passenger cars were down 26.4% year over year to 16,571 units. Commercial vehicle sales were down 16.9% to 29,823 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 35.5% to 16,125 units.
The Toyota Hilux was the bestselling model (registration base) in July with 6,270 units, followed by Isuzu D-Max with 4,986 units, Toyota Yaris ATIV with 3,967 units, Toyota Yaris Cross with 3,329 units and Honda City with 2,756 units.
The FTI announced that new vehicle production in July was 124,829 units, down 16.6% YoY. Vehicle production for domestic sales and exports in July 2024 contributed 29.9% and 70.1% respectively. Production of 1-ton pickups and 5–10-ton trucks both saw a double-digit YoY drop. In the first seven months of 2024, vehicle production reached 886,069 units, down 17.3% YoY.
Vehicle exports in July 2024 were 83,527 units, down 22.7% YoY. Exports of hybrid passenger cars skyrocketed over 400% to reach 3,684 units. The vehicle export value in July was THB 56.4 billion, down 16.6% year over year. Vehicle exports in the first 7 months of 2024 reached 602,567 units, down 5.4% YoY.
For the negative factors, the FTI mentioned the high household debt that has already exceeded 91% of Thailand’s GDP and the slow economic growth that have caused financial institutions to be stricter in approving auto loans, especially with pickup and trucks, as well as the delayed budget bill for the 2024 fiscal year that has also delayed new activities and investments of both public and private segments.

Thailand - Production and Retail Sales of new vehicles

	Jul. 2024	Growth Y-o-Y (%)	Jan.-Jul. 2024	Growth YTD (%)
Production	124,829	-16.6%	886,069	-17.3%
Domestic Sales	46,394	-20.6%	354,421	-23.7%
Export (CBU)	83,527	-22.7%	602,567	-5.4%

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
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	17,786	38.3%	20,421	35.0%	-12.9%	134,064	37.8%	157,280	33.9%	-14.8%
Isuzu	6,784	14.6%	11,735	20.1%	-42.2%	53,044	15.0%	98,016	21.1%	-45.9%
Honda	5,442	11.7%	7,551	12.9%	-27.9%	48,941	13.8%	53,685	11.6%	-8.8%
BYD	2,686	5.8%	1,376	2.4%	95.2%	17,421	4.9%	12,543	2.7%	38.9%
Ford	1,949	4.2%	2,754	4.7%	-29.2%	13,256	3.7%	22,882	4.9%	-42.1%
Mitsubishi	1,724	3.7%	2,505	4.3%	-31.2%	16,222	4.6%	22,340	4.8%	-27.4%
MG	1,200	2.6%	1,973	3.4%	-39.2%	10,096	2.8%	15,044	3.2%	-32.9%
Mazda	722	1.6%	1,287	2.2%	-43.9%	5,845	1.6%	11,106	2.4%	-47.4%
Nissan	611	1.3%	1,204	2.1%	-49.3%	6,098	1.7%	10,437	2.2%	-41.6%
GWM	431	0.9%	777	1.3%	-44.5%	4,489	1.3%	6,999	1.5%	-35.9%
Others	7,059	15.2%	6,836	11.7%	3.3%	44,945	12.7%	54,218	11.7%	-17.1%
Total	46,394	100.0%	58,419	100.0%	-20.6%	354,421	100.0%	464,550	100.0%	-23.7%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	5,313	32.1%	8,048	35.8%	-34.0%	38,577	28.4%	59,089	34.6%	-34.7%
Honda	2,623	15.8%	4,922	21.9%	-46.7%	27,253	20.1%	35,347	20.7%	-22.9%
BYD	1,996	12.0%	-	-%	-%	12,756	9.4%	-	-%	-%
Mitsubishi	1,083	6.5%	1,086	4.8%	-0.3%	10,970	8.1%	10,664	6.3%	2.9%
MG	751	4.5%	1,429	6.3%	-47.4%	7,698	5.7%	9,876	5.8%	-22.1%
Mazda	468	2.8%	773	3.4%	-39.5%	3,236	2.4%	5,678	3.3%	-43.0%
Suzuki	306	1.8%	787	3.5%	-61.1%	3,608	2.7%	6,404	3.8%	-43.7%
Nissan	281	1.7%	525	2.3%	-46.5%	2,345	1.7%	4,085	2.4%	-42.6%
Neta	196	1.2%	1,161	5.2%	-83.1%	2,915	2.1%	7,563	4.4%	-61.5%
GWM	187	1.1%	474	2.1%	-60.5%	1,974	1.5%	3,074	1.8%	-35.8%
Porsche	114	0.7%	130	0.6%	-12.3%	995	0.7%	960	0.6%	3.6%
Hyundai	82	0.5%	296	1.3%	-72.3%	899	0.7%	835	0.5%	7.7%
KIA	51	0.3%	47	0.2%	8.5%	561	0.4%	652	0.4%	-14.0%
Others	3,120	18.8%	2,833	12.6%	10.1%	22,110	16.3%	26,371	15.5%	-16.2%
Total	16,571	100.0%	22,511	100.0%	-26.4%	135,897	100.0%	170,598	100.0%	-20.3%

* 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
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota *	12,473	41.8%	12,373	34.5%	0.8%	95,487	43.7%	98,191	33.4%	-2.8%
Isuzu	6,784	22.7%	11,735	32.7%	-42.2%	53,044	24.3%	98,016	33.3%	-45.9%
Honda	2,819	9.5%	2,629	7.3%	7.2%	21,688	9.9%	18,338	6.2%	18.3%
Ford	1,947	6.5%	2,754	7.7%	-29.3%	13,229	6.1%	22,871	7.8%	-42.2%
BYD	690	2.3%	1,376	3.8%	-49.9%	4,665	2.1%	12,543	4.3%	-62.8%
Mitsubishi	641	2.1%	1,419	4.0%	-54.8%	5,252	2.4%	11,676	4.0%	-55.0%
MG	449	1.5%	544	1.5%	-17.5%	2,398	1.1%	5,168	1.8%	-53.6%
Hino	361	1.2%	733	2.0%	-50.8%	2,653	1.2%	6,105	2.1%	-56.5%
Nissan	330	1.1%	679	1.9%	-51.4%	3,753	1.7%	6,352	2.2%	-40.9%
Mazda	254	0.9%	514	1.4%	-50.6%	2,609	1.2%	5,428	1.8%	-51.9%
GWM	244	0.8%	303	0.8%	-19.5%	2,515	1.2%	3,925	1.3%	-35.9%
Hyundai	211	0.7%	424	1.2%	-50.2%	1,874	0.9%	2,180	0.7%	-14.0%
KIA	209	0.7%	0	0.0%	-%	475	0.2%	11	0.0%	4218.2%
Suzuki	77	0.3%	225	0.6%	-65.8%	566	0.3%	1,602	0.5%	-64.7%
Subaru	73	0.2%	122	0.3%	-40.2%	516	0.2%	1,109	0.4%	-53.5%
CP Foton	16	0.1%	57	0.2%	-71.9%	421	0.2%	209	0.1%	101.4%
Others	2,245	7.5%	21	0.1%	10590.5%	7,379	3.4%	228	0.1%	3136.4%
Total	29,823	100.0%	35,908	100.0%	-16.9%	218,524	100.0%	293,952	100.0%	-25.7%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jul.	Share	Jul.	Share		Jan.-Jul.	Share	Jan.-Jul.	Share
Toyota	7,369	45.7%	10,088	40.4%	-27.0%	57,058	45.8%	80,632	38.8%	-29.2%
Isuzu	5,843	36.2%	10,228	40.9%	-42.9%	46,436	37.3%	88,861	42.7%	-47.7%
Ford	1,947	12.1%	2,754	11.0%	-29.3%	13,229	10.6%	22,871	11.0%	-42.2%
Mitsubishi	639	4.0%	1,416	5.7%	-54.9%	5,203	4.2%	11,610	5.6%	-55.2%
Nissan	165	1.0%	369	1.5%	-55.3%	1,801	1.4%	2,730	1.3%	-34.0%
MG	147	0.9%	64	0.3%	129.7%	450	0.4%	615	0.3%	-26.8%
Mazda	15	0.1%	63	0.3%	-76.2%	385	0.3%	615	0.3%	-37.4%
Total	16,125	100.0%	24,982	100.0%	-35.5%	124,562	100.0%	207,934	100.0%	-40.1%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jul. *1	Share	Jul. *1	Share		Jan.-Jul. *1	Share	Jan.-Jul. *1	Share
Toyota *	4,157	37.2%	1,575	21.5%	163.9%	32,543	42.7%	12,244	19.9%	165.8%
Honda	2,819	25.2%	2,629	35.9%	7.2%	21,688	28.5%	18,338	29.8%	18.3%
Changan	1,869	16.7%	N/A	-%	-%	1,869	2.5%	N/A	-%	-%
MG	302	2.7%	480	6.6%	-37.1%	1,948	2.6%	4,553	7.4%	-57.2%
GWM	244	2.2%	303	4.1%	-19.5%	2,515	3.3%	3,925	6.4%	-35.9%
Mazda	239	2.1%	451	6.2%	-47.0%	2,224	2.9%	4,813	7.8%	-53.8%
KIA	209	1.9%	-	-%	-%	475	0.6%	-	-%	-%
Nissan	165	1.5%	308	4.2%	-46.4%	1,950	2.6%	3,466	5.6%	-43.7%
Subaru	73	0.7%	122	1.7%	-40.2%	516	0.7%	1,109	1.8%	-53.5%
Hyundai	25	0.2%	52	0.7%	-51.9%	366	0.5%	231	0.4%	58.4%
Others	9	0.1%	27	0.4%	-66.7%	190	0.2%	311	0.5%	-38.9%
GAC	N/A	-%	N/A	-%	-%	1,071	1.4%	N/A	-%	-%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	11,165	100.0%	7,323	100.0%	52.5%	76,180	100.0%	61,533	100.0%	23.8%

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	Jul. 2024	Jul. 2023	Y-o-Y	Jan.-Jul. 2024	Jan.-Jul. 2023	Y-o-Y
1	Toyota	Hilux	6,270	8,810	-28.8%	50,877	74,920	-32.1%
2	Isuzu	D-Max	4,986	8,944	-44.3%	46,854	89,333	-47.6%
3	Toyota	Yaris ATIV	3,967	3,337	18.9%	30,608	33,662	-9.1%
4	Toyota	Yaris Cross	3,329	-	-%	22,687	-	-%
5	Honda	City	2,756	3,069	-10.2%	22,413	29,621	-24.3%
6	Honda	HR-V	2,263	1,594	42.0%	16,153	15,108	6.9%
7	BYD Auto	Dolphin	1,833	-	-%	8,227	-	-%
8	Toyota	Corolla Cross	1,611	1,600	0.7%	10,767	13,167	-18.2%
9	Ford	Ford Ranger	1,414	2,144	-34.0%	12,042	19,089	-36.9%
10	Toyota	Fortuner	1,286	1,745	-26.3%	10,208	17,265	-40.9%

Source: MarkLines Data Center

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.

June vehicle sales in Thailand down 26.0%, production down 20.1% (detailed report)
According to the Federation of Thai Industries (FTI), June vehicle sales in Thailand decreased 26.0% year over year (YoY) to 47,662 units from the same period in 2023. In the first 6 months of 2024, vehicle sales were 308,027 units, a decline of 24.2% YoY.
According to data compiled by Toyota Motor Thailand (TMT), by maker sales in June, Toyota (including Lexus) was down 11.2% to 18,542 units. Isuzu was down 43.4% to 7,077 units and Honda was down 13.3% to 6,125 units. Mitsubishi is in the 4th position with 23.2% down to 2,311 units and BYD sales were down 1.3% to 1,833 units. Among other Chinese brands, MG was ranked 7th with 46.4% down to 1,270 units.
By body type, passenger cars were down 27.1% year over year to 17,737 units. Commercial vehicle sales were down 25.4% to 29,925 units. Pickup truck (including PPV) sales included in the commercial vehicle sales were down 39.0% to 16,672 units.
The Toyota Hilux was the bestselling model (registration base) in June with 6,669 units, followed by Isuzu D-Max with 5,004 units, Toyota Yaris ATIV with 3,893 units, Toyota Yaris Cross with 3,511 units and Honda City with 3,037 units.
The FTI announced that new vehicle production in June was 116,289 units, down 20.1% YoY. Vehicle production for domestic sales and exports in June 2024 contributed 29.7% and 70.3% respectively. Production of passenger cars, 1-ton pickups, and 5–10-ton trucks all witnessed a double-digit YoY drop.  In the first half of 2024, vehicle production reached 761,240 units, down 17.4% YoY.
Vehicle exports in June 2024 were 89,071 units, up 0.3% YoY. Exports of hybrid passenger cars skyrocketed over 350% to reach 3,690 units. The vehicle export value in June was THB 63.1 billion, up 12.8% year over year. Vehicle exports in the first 6 months of 2024 reached 519,040 units, down 1.8% YoY.
The FTI mentioned that the high household debt and the slow economic growth have caused financial institutions to be stricter in approving auto loans, especially with pickup and trucks. The local economic recovery is expected to be seen in H2/2024. The FTI decided to revise its projection on local car production in 2024 downward from 1.9 million units to 1.7 million units. The targeted vehicle production for exports stays at 1.15 million units, while production for local sales has been lowered from 750,000 units to 550,000 units.

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

New vehicle retail sales by major makers

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jun.	Share	Jun.	Share		Jan.-Jun.	Share	Jan.-Jun.	Share
Toyota *	18,542	38.9%	20,877	32.4%	-11.2%	116,278	37.7%	136,859	33.7%	-15.0%
Isuzu	7,077	14.8%	12,505	19.4%	-43.4%	46,260	15.0%	86,281	21.2%	-46.4%
Honda	6,125	12.9%	7,067	11.0%	-13.3%	43,499	14.1%	46,134	11.4%	-5.7%
Mitsubishi	2,311	4.8%	3,010	4.7%	-23.2%	14,498	4.7%	19,835	4.9%	-26.9%
BYD	1,833	3.8%	1,857	2.9%	-1.3%	14,735	4.8%	11,167	2.7%	32.0%
Ford	1,656	3.5%	3,217	5.0%	-48.5%	11,307	3.7%	20,128	5.0%	-43.8%
MG	1,270	2.7%	2,368	3.7%	-46.4%	8,896	2.9%	13,071	3.2%	-31.9%
Nissan	801	1.7%	1,501	2.3%	-46.6%	5,487	1.8%	9,233	2.3%	-40.6%
Mazda	724	1.5%	1,783	2.8%	-59.4%	5,123	1.7%	9,819	2.4%	-47.8%
Suzuki	519	1.1%	1,249	1.9%	-58.4%	3,791	1.2%	6,994	1.7%	-45.8%
Others	6,804	14.3%	9,006	14.0%	-24.5%	38,153	12.4%	46,610	11.5%	-18.1%
Total	47,662	100.0%	64,440	100.0%	-26.0%	308,027	100.0%	406,131	100.0%	-24.2%

* Includes sales volume of the Lexus.

Passenger Cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jun.	Share	Jun.	Share		Jan.-Jun.	Share	Jan.-Jun.	Share
Toyota *	5,372	30.3%	7,411	30.5%	-27.5%	33,264	27.9%	51,041	34.5%	-34.8%
Honda	3,380	19.1%	4,441	18.3%	-23.9%	24,630	20.6%	30,425	20.5%	-19.0%
Mitsubishi	1,696	9.6%	1,351	5.6%	25.5%	9,887	8.3%	9,578	6.5%	3.2%
BYD	1,004	5.7%	-	-%	-%	10,760	9.0%	-	-%	-%
MG	881	5.0%	1,661	6.8%	-47.0%	6,947	5.8%	8,447	5.7%	-17.8%
Neta	509	2.9%	1,384	5.7%	-63.2%	2,719	2.3%	6,402	4.3%	-57.5%
Suzuki	450	2.5%	996	4.1%	-54.8%	3,302	2.8%	5,617	3.8%	-41.2%
Mazda	411	2.3%	1,019	4.2%	-59.7%	2,768	2.3%	4,905	3.3%	-43.6%
Nissan	280	1.6%	612	2.5%	-54.2%	2,064	1.7%	3,560	2.4%	-42.0%
Porsche	165	0.9%	197	0.8%	-16.2%	881	0.7%	830	0.6%	6.1%
GWM	151	0.9%	716	2.9%	-78.9%	1,787	1.5%	2,600	1.8%	-31.3%
Hyundai	96	0.5%	300	1.2%	-68.0%	817	0.7%	539	0.4%	51.6%
KIA	80	0.5%	19	0.1%	321.1%	510	0.4%	605	0.4%	-15.7%
Ford	19	0.1%	2	0.0%	850.0%	25	0.0%	11	0.0%	127.3%
Peugeot	17	0.1%	0	0.0%	-%	17	0.0%	0	0.0%	-%
Others	3,226	18.2%	4,224	17.4%	-23.6%	18,948	15.9%	23,527	15.9%	-19.5%
Total	17,737	100.0%	24,333	100.0%	-27.1%	119,326	100.0%	148,087	100.0%	-19.4%

* 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
	Jun.	Share	Jun.	Share		Jan.-Jun.	Share	Jan.-Jun.	Share
Toyota *	13,170	44.0%	13,466	33.6%	-2.2%	83,014	44.0%	85,818	33.3%	-3.3%
Isuzu	7,077	23.6%	12,505	31.2%	-43.4%	46,260	24.5%	86,281	33.4%	-46.4%
Honda	2,745	9.2%	2,626	6.5%	4.5%	18,869	10.0%	15,709	6.1%	20.1%
Ford	1,637	5.5%	3,215	8.0%	-49.1%	11,282	6.0%	20,117	7.8%	-43.9%
BYD	829	2.8%	1,857	4.6%	-55.4%	3,975	2.1%	11,167	4.3%	-64.4%
Mitsubishi	615	2.1%	1,659	4.1%	-62.9%	4,611	2.4%	10,257	4.0%	-55.0%
Nissan	521	1.7%	889	2.2%	-41.4%	3,423	1.8%	5,673	2.2%	-39.7%
MG	389	1.3%	707	1.8%	-45.0%	1,949	1.0%	4,624	1.8%	-57.9%
Hino	344	1.1%	1,174	2.9%	-70.7%	2,292	1.2%	5,372	2.1%	-57.3%
Mazda	313	1.0%	764	1.9%	-59.0%	2,355	1.2%	4,914	1.9%	-52.1%
CP Foton	263	0.9%	23	0.1%	1043.5%	405	0.2%	152	0.1%	166.4%
GWM	244	0.8%	418	1.0%	-41.6%	2,271	1.2%	3,622	1.4%	-37.3%
Hyundai	214	0.7%	373	0.9%	-42.6%	1,663	0.9%	1,756	0.7%	-5.3%
KIA	150	0.5%	0	0.0%	-%	266	0.1%	11	0.0%	2318.2%
Suzuki	69	0.2%	253	0.6%	-72.7%	489	0.3%	1,377	0.5%	-64.5%
Subaru	53	0.2%	137	0.3%	-61.3%	443	0.2%	987	0.4%	-55.1%
Others	1,292	4.3%	41	0.1%	3051.2%	5,134	2.7%	207	0.1%	2380.2%
Total	29,925	100.0%	40,107	100.0%	-25.4%	188,701	100.0%	258,044	100.0%	-26.9%

* Includes sales volume of the Lexus.

1-ton pickups (incl. PPV)

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jun.	Share	Jun.	Share		Jan.-Jun.	Share	Jan.-Jun.	Share
Toyota	7,939	47.6%	10,803	39.5%	-26.5%	49,689	45.8%	70,544	38.6%	-29.6%
Isuzu	6,148	36.9%	11,100	40.6%	-44.6%	40,593	37.4%	78,633	43.0%	-48.4%
Ford	1,637	9.8%	3,215	11.8%	-49.1%	11,282	10.4%	20,117	11.0%	-43.9%
Mitsubishi	603	3.6%	1,653	6.0%	-63.5%	4,564	4.2%	10,194	5.6%	-55.2%
Nissan	235	1.4%	410	1.5%	-42.7%	1,636	1.5%	2,361	1.3%	-30.7%
MG	90	0.5%	80	0.3%	12.5%	303	0.3%	551	0.3%	-45.0%
Mazda	20	0.1%	78	0.3%	-74.4%	370	0.3%	552	0.3%	-33.0%
Total	16,672	100.0%	27,339	100.0%	-39.0%	108,437	100.0%	182,952	100.0%	-40.7%

SUV

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Jun. *1	Share	Jun. *1	Share		Jan.-Jun. *1	Share	Jan.-Jun. *1	Share
Toyota *	4,130	39.9%	1,810	20.8%	128.2%	28,386	43.7%	10,669	19.7%	166.1%
Honda	2,745	26.5%	2,626	30.1%	4.5%	18,869	29.0%	15,709	29.0%	20.1%
GAC	587	5.7%	-	-%	-%	1,071	1.6%	-	-%	-%
MG	299	2.9%	627	7.2%	-52.3%	1,646	2.5%	4,073	7.5%	-59.6%
Mazda	293	2.8%	686	7.9%	-57.3%	1,985	3.1%	4,362	8.0%	-54.5%
Nissan	286	2.8%	474	5.4%	-39.7%	1,785	2.7%	3,158	5.8%	-43.5%
GWM	244	2.4%	418	4.8%	-41.6%	2,271	3.5%	3,622	6.7%	-37.3%
KIA	150	1.4%	-	-%	-%	266	0.4%	-	-%	-%
Subaru	53	0.5%	137	1.6%	-61.3%	443	0.7%	987	1.8%	-55.1%
Hyundai	31	0.3%	24	0.3%	29.2%	341	0.5%	179	0.3%	90.5%
Mitsubishi	12	0.1%	6	0.1%	100.0%	47	0.1%	63	0.1%	-25.4%
Others	6	0.1%	55	0.6%	-89.1%	134	0.2%	221	0.4%	-39.4%
Audi	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Bentley	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
BMW	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
BYD	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Ford	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Mercedes-Benz	N/A	-%	N/A	-%	-%	N/A	-%	N/A	-%	-%
Total	10,358	100.0%	8,720	100.0%	18.8%	65,015	100.0%	54,210	100.0%	19.9%

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	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