2024 Q1 Thai Auto Market: Overall Sales Decline, Hybrid Growth Against the Trend

Thailand's new car sales in Q1 2024 were sluggish, with a total market sales of 163,756 vehicles, accumulative sales of passenger cars were 65,615, down by 15.4%; commercial vehicles accumulated sales of 98,141, down by 29.7%.  

Top 10 car brands with the highest sales in Q1 2024 in Thailand

1. Toyota 58,810 units, market share 35.9%      

2.Honda 25,104 units, market share 15.3%    

3.Isuzu 24,444 units, market share 14.9%    

4.BYD 10,047 units, market share 6.1%  

5.Mitsubishi 7,587 units, market share 4.6%    

6.Ford 5,934 units, market share 3.6%    

7.MG 4,832 units, market share 3.0%          

8.Nissan 2,875 units, market share 1.8%    

9.Mazda 2,431 units, market share 1.5%    

10.GWM 2,339 units, market share 1.4%  

The March 2024 new car sales report shows that sales of pure internal combustion engines and electric vehicles have declined year-on-year, and hybrid vehicles have increased against the trend.

In Thailand, petrol and diesel cars sold 16,004 and 26,466 respectively in March, down 40.85% and 40.70% year on year, down 8.61% and 1.96% month on month. The electric vehicle sales were 5,251, down 15.84% year on year, up 39.4% month on month. The hybrid car sales were 12,815, up 28.84% year on year, up 7.1% month on month.