2023 Thai car sales: Toyota dominates, Isuzu D-Max is most popular model, EVs saw 684% growth
CY Foong · Jan 16, 2024 03:30 PM
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Japanese brands continued their domination of car sales in Thailand in 2023. A total of 634,948 new cars were sold in the Kingdom last year according to data compiled by Headlight Mag.
The top 3 brands – Toyota, Isuzu, and Honda – took a combined market share of 66.1%. Toyota led with 265,949 units followed by Isuzu with 151,935 units while Honda saw 94,336 units sold throughout 2023.
Ford is the only non-Japanese or as a matter of fact, non-Asian brand in Thailand’s top 12 best-selling car manufacturer of 2023. The Blue Oval is placed fourth with 36,483 units sold and heavily buoyed by sales of the Ford Ranger which accounted for 67% of the American brand’s sales in the country.
Though Toyota remains the most popular car brand in Thailand in 2023, the Kingdom’s most popular car did not bear the triple ellipses badge. That honour went to the Isuzu D-Max which saw 115,499 units sold.
Pick-up trucks which are the most popular segment among Thai buyers saw a drastic slump in sales last year. 2023 saw 264,731 pick-ups sold in the Kingdom, a 31.82% drop compared to 2022 (388,296 units).
The reason for this slump is due to more stringent financing requirements according to Headlight Mag. Toyota is hoping that the newly launched and cheaper Hilux Champ will help to boost the segment.
Elsewhere in the top 12 brands chart, 4 Chinese brands occupy the list with BYD leading the quartet at sixth place. With a total of 30,432 units sold, the Chinese EV manufacturer was also Thailand’s best-selling EV brand of 2023.
Based on another set of sales data by Autolife Thailand, all 3 BYD models offered occupy the Kingdom’s top 10 best-selling EVs of 2023 – BYD Atto 3 (1st, 19,214 units), BYD Dolphin (3rd, 9,410 units), and BYD Seal (9th, 1,810 units).
EVs saw a massive leap in sales with 76,314 units sold in the Kingdom, a whopping 684.4% growth compared to 2022 which saw 9,729 EVs sold. EVs also account for 12% of total vehicle sales in the Kingdom in 2023.
With the drop in pick-up sales and the massive rise of EVs, could we see a change in direction for the Thai automotive industry in 2024?
Traded advertising for a career that fits his passion for cars. Enjoys spotting cars during his free time and has a soft spot for Japanese Kei cars but drives a thirsty manual sedan.
