Car Market Remains Sluggish, Impacted by Political and Economic Challenges

Toyota has assessed the Thai automotive market for the year, facing challenging conditions due to overall economic circumstances and market trends. The total sales for the year are projected at 630,000 units, with a modest 1.4% growth. The company reported that the automotive industry is in a gradual recovery phase, with total sales in 2025 reaching 621,166 units, an 8.5% increase from the previous year. While there are signs of recovery supported by government industry promotion measures, the overall rebound remains unclear due to several limitations, particularly high household debt levels that have restricted consumer purchasing power. Passenger car markets showed some growth, partly due to government support measures, especially towards the end of 2025. However, commercial vehicle markets, particularly pickup trucks, continue to face challenges with weak purchasing power and strict credit conditions. Toyota maintained its market leadership with 230,038 units sold, a 4.4% increase, holding a 37.0% market share. The company leads in seven key markets, particularly in passenger cars with a 34.4% market share. They especially excel in eco-cars (48.7% market share) and hybrid vehicles (47.4% market share). Looking ahead to 2026, the automotive industry is expected to remain stable, with continued monitoring of domestic economic and political situations, global economic conditions, and lending policies that may impact vehicle sales.