Accelerating Change: Major Car Brand Sales in Thailand 2023

Trends in New Vehicle Sales by Major Brands in Thailand

In 2023, Thailand’s automotive market witnessed a significant shift in new vehicle sales dynamics, marked by a notable decrease in overall sales and production. According to the Federation of Thai Industries (FTI), December vehicle sales dropped by 17.5% year-over-year, culminating in a total of 68,326 units. This decline is attributed to several factors including increased auto loan rejection rates, stringent financial requirements, and a broader economic slowdown. Despite these challenges, some brands managed to navigate the market turbulence better than others. In this article, our team at Thailand Automotive Consulting will guide you through the key trends and data shaping Thailand’s automotive market in 2023.

New Vehicle Retail Sales by Major Makers (2023)

Maker/BrandJan-Dec 2023 SalesJan-Dec 2023 Share (%)

Leading Brands and Market Performance

Toyota, a stalwart in Thailand’s automotive market, retained its position as the leading car brand. However, its sales experienced a decline of 7.9% year-over-year, selling approximately 265,949 units in 2023. Despite this drop, Toyota maintained a 34.3% market share, highlighting its dominance in the Thai market. This trend aligns with Toyota’s historical performance, where it has consistently been the most popular car brand among Thai consumers.

Isuzu, another major player, saw a sharp decline in sales, plummeting by 28.5% to 151,935 units. This decline significantly impacted Isuzu’s market share, which stood at 19.6%. The stringent requirements for financial institutions and increased household debt levels were among the factors that contributed to this decrease.

Honda, in contrast, demonstrated resilience with a year-over-year sales increase of 13.9%, reaching 94,336 units. This positive performance boosted Honda’s market share to 12.2%, reflecting strong consumer confidence and brand loyalty.

Emerging Players and Market Dynamics

Among the emerging brands, BYD made a significant impact in 2023, with an astonishing year-over-year sales increase of 9653.8%, totaling 30,432 units. This surge underscores the growing acceptance and demand for electric vehicles (EVs) in Thailand. Similarly, Neta, another Chinese brand, experienced a substantial growth of 1257.8%, selling 13,836 units. These trends indicate a shifting consumer preference towards more sustainable and eco-friendly automotive options.

Mitsubishi and Ford, however, faced considerable challenges. Mitsubishi’s sales declined by 35.2% to 32,668 units, while Ford saw a decrease of 16.4%, selling 36,483 units. These declines reflect the broader market difficulties and increased competition from newer brands.

Vehicle Production and Market Outlook

Thailand’s vehicle production also mirrored the downturn in sales. The production volume for passenger cars with engines less than 1,500 cc reached 151,000 units between January and April 2023. Overall, vehicle production in Thailand amounted to 1.83 million units in 2023, with passenger cars dominating at 637,000 units. Despite missing the revised target of 1.85 million units, the industry’s focus on production capacity remained strong.

The Isuzu D-Max emerged as the bestselling model in 2023 with 127,290 units sold, followed by Toyota Hilux and Toyota Yaris ATIV. This preference for pickup trucks highlights the enduring demand for commercial vehicles in the Thai market, although sales in this segment declined by 28.5% to 325,024 units.

Looking ahead, the FTI anticipates a moderate recovery in the local car production sector, projecting a growth of 3.2% in 2023. The expected production volume is set at 1.90 million units, with 1.15 million units for exports and 750,000 units for local sales. This cautious optimism reflects the industry’s adaptability and resilience in the face of economic and regulatory challenges.


In conclusion, the trends in new vehicle sales in Thailand for 2023 highlight both the resilience and challenges within the automotive market. Major brands like Toyota and Honda continue to dominate, while new entrants like BYD and Neta are rapidly gaining ground. The overall market dynamics suggest a gradual shift towards more sustainable vehicle options, with electric vehicles becoming increasingly popular. As Thailand navigates its economic landscape, the automotive industry remains a crucial pillar of growth and innovation. Navigating this sector becomes seamless with insights from our expert team at Thailand Automotive Consulting. Should you have any questions, our team is here to assist you.