Key Market Indicators
Thailand's car registration is projected to hit approximately 1.76 million units by 2028, up from around 1.55 million units in 2023. This marks an average annual growth rate of 2%. Since 2010, the country's demand for cars has surged by 26.4% each year. In 2023, Thailand ranked 21st globally in car registrations, with France marginally ahead at the same figure of 1.55 million units. Indonesia, Austria, and Belgium occupied the second, third, and fourth spots, respectively. In terms of car production, Thailand is set to reach about 1.01 million units by 2028, rising from roughly 892,000 units in 2023. This indicates a yearly growth rate of 1.9% on average. Thai car production has seen a modest increase of 0.4% annually since 2002. In 2023, Thailand ranked 17th worldwide in car production, with Iran surpassing it at the same production figure of 892,000 units. Japan, Germany, and India held the second, third, and fourth positions, respectively, in this category.
