Thailand’s Auto Leaders: Brand Comparison and Performance Insights 2023

Comparative Analysis of Major Automotive Brands in Thailand (2023)

The Thai automotive market has long been a vibrant arena for major international brands, each vying for a significant share of the consumer base. In 2023, the market dynamics continued to evolve, with established giants like Toyota and Honda maintaining their dominance while new entrants such as BYD and Neta began to carve out their own niches. This analysis by our Thailand Automotive Consulting team provides a comprehensive overview of the competitive landscape among major automotive brands in Thailand, offering insights into their performance and the shifting market trends.

Thailand – Top 10 Best Selling Models (Jan-Dec 2023)

Maker/BrandModelJan-Dec 2023 Sales
ToyotaYaris ATIV55,527
FordFord Ranger28,848
ToyotaCorolla Cross19,857
BYD AutoYuan PLUS / ATTO 319,213

Source: MarkLines Data Center

Toyota: The Market Leader

Toyota remains the undisputed leader in Thailand’s automotive market. In 2023, Toyota sold approximately 265,949 units, capturing a substantial 34.3% of the market share. Despite a 7.9% decrease in sales compared to the previous year, Toyota’s enduring popularity is a testament to its strong brand reputation, extensive dealer network, and consistent delivery of reliable vehicles. The Toyota Hilux and Toyota Yaris ATIV were among the best-selling models, highlighting the brand’s appeal across both commercial and passenger vehicle segments.

Isuzu: A Strong Contender Facing Challenges

Isuzu, renowned for its durable and efficient commercial vehicles, holds the second-largest market share in Thailand at 19.6%. However, 2023 was a challenging year for the brand, with sales dropping by 28.5% to 151,935 units. The Isuzu D-Max pickup truck continued to be a favorite, but the overall decline reflects broader market challenges, including stricter financial conditions and increased competition. Isuzu’s focus on robust, high-performance vehicles ensures it remains a significant player, though it must navigate these headwinds carefully.

Honda: Resilience Amidst Market Fluctuations

Honda demonstrated resilience in 2023, achieving a year-over-year sales increase of 13.9%, with 94,336 units sold. This performance boosted Honda’s market share to 12.2%, up from 9.8% the previous year. Honda’s success can be attributed to its strong portfolio of fuel-efficient and well-designed vehicles, which continue to resonate with Thai consumers. The brand’s ability to adapt to changing market conditions and consumer preferences positions it well for sustained growth.

Emerging Players: BYD and Neta

The 2023 market landscape in Thailand saw significant disruption from emerging players like BYD and Neta. BYD, a Chinese electric vehicle (EV) manufacturer, experienced a staggering year-over-year sales increase of 9653.8%, selling 30,432 units. This phenomenal growth underscores the rising acceptance and demand for EVs in Thailand. Similarly, Neta, another Chinese brand, saw its sales soar by 1257.8%, reaching 13,836 units. These brands are rapidly gaining traction due to their innovative technologies and the growing consumer preference for environmentally friendly vehicles.

Market Dynamics and Consumer Preferences

The overall dynamics of Thailand’s automotive market in 2023 highlight a gradual shift towards more sustainable vehicle options. The increasing popularity of electric vehicles, as evidenced by the success of BYD and Neta, signals a significant change in consumer preferences. This trend is driven by a combination of government incentives, increasing environmental awareness, and advancements in EV technology.

Conversely, traditional internal combustion engine (ICE) vehicles continue to face pressure from regulatory changes and shifting consumer attitudes. Brands like Mitsubishi and Ford, which primarily rely on ICE vehicles, saw their sales decline in 2023. Mitsubishi’s sales dropped by 35.2% to 32,668 units, while Ford’s sales decreased by 16.4%, selling 36,483 units. These figures reflect the broader challenges faced by ICE vehicle manufacturers in adapting to the evolving market landscape.


In conclusion, the comparative analysis of major automotive brands in Thailand for 2023 reveals a market in transition. While established brands like Toyota and Honda maintain their dominance, the rapid rise of EV manufacturers like BYD and Neta highlights a significant shift towards sustainable mobility solutions. As the Thai automotive market navigates these changes, insights from expert consultants, such as our team at Thailand Automotive Consulting, are invaluable for understanding and capitalizing on emerging trends. Should you have any questions or require further analysis, our team is here to assist you.