Copyright FOURIN, Inc. 2023
Thailand’s Electric Vehicle Market: Toyota Leads the HEV Market
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Electric vehicle (EV = HEV + PHEV + BEV) sales in Thailand increased 41.4% from the previous year to 43,478 units (based on newly registered vehicle data) in 2021. HEVs went up 58.5% to 34,339 units, PHEVs dropped 9.6% to 7,060 units and BEVs rose 61.2% to 2,079 units. HEVs, which account for nearly 80% of all EV sales, have become the driving force of the market, more than quadrupling in the past five years.
Toyota was the market leader in the HEV segment with an estimated 20,000 units sold in 2021. The best-selling model was the Corolla Cross HEV which sold 14,181 units in the first 11 months of 2021. In the PHEV and BEV segments the market leader was SAIC Motor’s MG brand, selling over 1,000 units in both segments.