Thailand’s Automobile Sales Results in 2022

In 2022, Thailand’s automobile market grew by 11.9% year-on-year to 849,388 units. Following weak sales in 2020 and 2021 due to the corona pandemic, demand slightly recovered in 2022. Sales were boosted by several factors such as the resumption of the tourism industry, the revitalization of the economy thanks to the expansion of private consumption, high demand for pickup trucks, and the easing of the semiconductor shortage from August 2022. Passenger cars (including MPVs) increased 5.3% to 265,069 units and commercial vehicles (including SUVs) rose 15.2% to 584,319 units.

In 2022, the ratio of electric vehicles in the total automobile market (new registration data) went up by 2.5 percentage points from the previous year to 6.5% of which BEVs rose 0.9 percentage point to 1.1%. Considering the introduction of subsidies for BEV battery production in 2023, the ratio of electric vehicles is expected to increase further.