Overview
Toyota Motor Thailand Co., Ltd. has announced its 2024 car sales figures and provided projections for the Thai automotive market in 2025. On January 30, 2025, the company reported total car sales in Thailand for 2024 at 572,675 units, marking a 26.2% decrease compared to 2023.
2024 Car Sales Statistics
- Total Sales: 572,675 units (-26.2%)
- Passenger Cars: 224,148 units (-23.4%)
- Commercial Vehicles: 348,527 units (-27.9%)
- 1-Ton Pickup Trucks (including modified versions): 200,190 units (-38.4%)
- 1-Ton Pickup Trucks (excluding modified versions): 163,347 units (-38.3%)
Key Factors Behind the Decline:
- Reduced purchasing power due to economic conditions
- High living costs and elevated interest rates
- Stricter auto loan standards from financial institutions
Despite these challenges, hybrid electric vehicles (HEVs) gained popularity, with sales increasing by 29%, reflecting growing consumer interest in alternative energy vehicles.
Toyota’s 2024 Sales Performance
Toyota sold 220,356 vehicles, a 17.1% decrease from the previous year, yet maintained its market leadership with a 38.5% market share. This is attributed to the continued success of eco-car models and strong demand for hybrid vehicles, especially the Yaris Cross.
2024 Toyota Sales Breakdown
- Total Sales: 220,356 units (-17.1%)
- Passenger Cars: 66,912 units (-32.6%)
- Commercial Vehicles: 153,444 units (-7.9%)
- 1-Ton Pickup Trucks (including modified versions): 91,001 units (-29.3%)
- 1-Ton Pickup Trucks (excluding modified versions): 77,987 units (-26.8%)
2025 Market Outlook
The Thai automotive industry is expected to gradually recover in 2025, supported by:
- Increased business activities and investments
- Growth in tourism driving vehicle demand
- Government policies stimulating spending and infrastructure development
- Competitive promotions by automakers
However, global economic uncertainties and tighter loan approval processes remain concerns. The total car sales in Thailand for 2025 are projected to reach 600,000 units, a 5% increase from 2024.
2025 Sales Projections
- Total Market Sales: 600,000 units (+5.0%)
- Passenger Cars: 235,900 units (+5.0%)
- Commercial Vehicles: 364,100 units (+4.0%)
Toyota’s 2025 Sales Targets
Toyota aims to increase sales by 5% to 231,000 units, maintaining a 38.5% market share.
- Total Sales: 231,000 units (+5.0%)
- Passenger Cars: 79,300 units (+19%)
- Commercial Vehicles: 151,700 units (-1.0%)
- 1-Ton Pickup Trucks (including modified versions): 87,365 units (-4.0%)
- 1-Ton Pickup Trucks (excluding modified versions): 73,800 units (-5.0%)
Export and Production in 2024
Toyota exported 338,107 vehicles, an 11% decline, and produced 536,145 units, down 14% from 2023.
2025 Export and Production Targets
- Export Volume: 336,184 units (-1.0%)
- Total Production (domestic sales and exports): 537,860 units (+0.3%)
For more details, visit Toyota Motor Thailand’s official announcement.
