Thailand’s 2024 Automobile Sales by Segment

Thailand’s automobile sales (new vehicle registration data) decreased by 24.3% from the previous year to 604,213 units in 2024, The main reason for the contraction was the stricter loan screening, especially for one-ton pickups, which are the highest volume sales segment in the overall market. Looking at the market composition by vehicle type, SUVs increased by 4.5 points to 31.3%, surpassing 30% for the first time. Although it has expanded relatively due to the contraction of the total market, it is now on par with light commercial vehicles that include one-ton pickups (down 5.9 points to 31.9%) and passenger cars (up 1.2 points to 31.2%).