Car Market Stagnant: Politics, Economy Impacting Growth Below 2%

Khaosod•Society•248d ago

Reader Briefing

Toyota forecasts continued sluggishness in Thailand's car market for 2026, citing political and economic headwinds, predicting only 1.4% growth.

•Toyota expects the Thai car market to grow by only 1.4% to 630,000 units in 2026 due to ongoing political and economic challenges.
•Despite overall market stagnation, Toyota aims for a 6% sales increase, targeting 243,000 units and maintaining a 38.36% market share.
•The market faces headwinds including high household debt impacting consumer purchasing power, strict loan conditions, and global economic uncertainties.

Overview

•Toyota estimates the Thai car market at 630,000 units in 2026, a 1.4% increase from the previous year.
•Toyota aims for sales of 243,000 units in 2026, targeting a 6% growth and 38.36% market share.
•The Thai automotive industry faced challenges in 2025 from domestic and international politics and economics, with high household debt limiting consumer purchasing power.
•In 2025, Toyota achieved total sales of 230,038 units, an increase of 4.4% year-on-year, securing a 37.0% market share.
•Toyota maintained leadership in key segments in 2025, including ECO Car (48.7% share) and Hybrid Vehicles (47.4% share).
•Toyota also led the commercial vehicle market in 2025 with a 38.7% share, driven by the popularity of the Hilux.
•The Thai automotive industry in 2026 is expected to remain in a stable state, with continued monitoring of economic conditions, political direction, and global economic situations.
•Factors influencing the 2026 outlook include tight credit conditions for vehicle leasing and interest rate policies, due to concerns about debt repayment capabilities from high household debt.

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Key Quotes

Toyota

"The car market in 2025 shows signs of recovery compared to the previous year, from the support of government measures promoting the automotive industry."

ตลาดรถยนต์ในปี 2568 มีสัญญาณฟื้นตัวขึ้นเมื่อเทียบกับปีก่อนหน้า จากแรงสนับสนุนของมาตรการส่งเสริมอุตสาหกรรมยานยนต์ของภาครัฐ

Toyota

"For Toyota's sales in 2025, total sales were 230,038 units, an increase of 4.4%."

สำหรับยอดขายของโตโยต้าในปี 2568 มียอดขายโดยรวมอยู่ที่ 230,038 คัน หรือเพิ่มขึ้น 4.4%

Toyota

"The trend for the Thai automotive industry in 2026 is expected to remain stagnant."

สำหรับแนวโน้มอุตสาหกรรมยานยนต์ไทยในปี 2569 คาดว่าจะยังคงอยู่ในสภาวะทรงตัว

Key Entities

Organization

Toyota(โตโยต้า)ℹ️

A major automotive manufacturer forecasting the Thai car market and setting sales targets.

Place

Thailand(ประเทศไทย)ℹ️

The location where the car market performance and industry trends are being analyzed and forecasted.