Key Market Indicators
Thai Vehicle Registration is projected to reach approximately 1.89 million units by 2028, up from 1.62 million units in 2023, representing an average annual growth rate of 2.4%. Since 2010, the Thai market has seen a robust year-on-year increase of 9.2%. In 2023, Thailand ranked 27th globally in vehicle registrations, with Morocco surpassing it with 1.62 million units. Leading the rankings were Canada, China, and Austria, occupying the second, third, and fourth positions respectively. Regarding vehicle production, Thailand is expected to hit around 2.98 million units by 2028, up from 2.55 million units in 2023, showing an average annual growth rate of 2.5%. Since 2002, Thai vehicle production has grown by an average of 3.3% per year. In 2023, Thailand was ranked 10th in global vehicle production, with France just ahead at 2.55 million units. The top spots were held by the United States, Japan, and Germany, ranking second, third, and fourth respectively.
Thailand Automotive Key Players Articles
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Hyundai Accelerates Southeast Asia’s EV Drive with $28 Million Investment in Thailand
Sep 7th 2024
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VinFast Hits the Brakes on Thailand Expansion Amid Southeast Asia’s EV Market Slowdown
Sep 7th 2024
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Why Tesla Putting Southeast Asia Factory Plans on Ice Could Be a Big Deal
Sep 7th 2024
Latest reports
Thailand Automotive Market Report- Q1 2025
The automotive market in Thailand during Q1 2025 showcases a dynamic landscape with significant resilience and transformation across various segments. Despite challenges, the...
Thailand Automotive Market Report- Q4 2024
The fourth quarter of 2024 has been pivotal for the automotive market in Thailand, marked by significant shifts and strategic adjustments across various...
Thailand Automotive Market Report - Q4 2024
In Q4 2024, the automotive market in Thailand has been marked by significant developments across several key segments, including passenger vehicles, commercial vehicles,...
