Thailand’s new automobile market declined by simply over 2% to 48,242 models in February 2026 from 49,313 models a 12 months earlier, in response to the most recent knowledge launched by the Federation of Thai Industries (FTI), due primarily to a pointy fall in battery electrical automobile (BEV) gross sales following the expiry of the federal government’s EV3.0 incentive programme on the finish of final 12 months.
This was the primary year-on-year decline for the Thai automobile market in virtually a 12 months and adopted a powerful surge in January, when automakers continued to ship BEVs bought earlier than the expiry of the EV3.0 programme, which has now been changed by the EV3.5 programme, which affords decrease incentives.
General automobile gross sales rose by over 25% to 122,178 models within the first two months of 2026 from 97,405 models a 12 months earlier, because the market continued to get well from two years of sharp declines because the nation’s extremely indebted shoppers and small companies struggled to entry financing after banks tightened lending guidelines. Financial progress within the nation accelerated to 2.5% year-on-year within the fourth quarter of 2025, up from 1.2% within the third quarter, on stronger home consumption and funding progress. The central financial institution has lower its benchmark rate of interest from 2.5% to 1.0% within the final eighteen months to assist drive up home progress.
BEV gross sales fell by 19% to six,168 models in February, however elevated by 160% to 38,027 models year-to-date following the robust surge in January. Gross sales of hybrid electrical automobiles (HEVs) elevated by 19% to 25,360 models within the two-month interval, whereas gross sales of pickup vehicles declined by virtually 4% to 24,505 models, and gross sales of inside combustion engine (ICE) passenger automobiles fell by 16% to 19,815 models.
Car manufacturing within the nation rose by 7% to 236,338 automobiles year-to-date, whereas exports fell by virtually 3% to 139,600 models, with abroad demand affected by the robust baht and rising international competitors from Chinese language automakers.
Earlier this 12 months, the Federation stated it anticipated automobile manufacturing within the nation to achieve 1.5 million models this 12 months, together with 550,000 on the market domestically and 950,000 for export. GlobalData expects home mild automobile gross sales to say no barely to 613,000 models in 2026, after rising by 9% to 617,000 models final 12 months, with the market forecast to rebound by virtually 12% to 684,000 models in 2027.
“Thai automobile gross sales fall 2% in February” was initially created and printed by Simply Auto, a GlobalData owned model.
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