Thailand Car Sales Climb 4.73% in May

Domestic car sales in Thailand climbed by 4.73% year-on-year to 52,229 units in May 2025, from 0.97% in the previous month, according to data from the Federation of Thai Industries (FTI). This marked the second straight month of growth, primarily driven by increased sales of BEVs (118.64%), PHEVs (234.68%), and ICE passenger cars (3.19%). However, sales plunged for pickup trucks (-24.84%), largely due to stricter loan approvals, high household debt, and subdued private sector investment. Meanwhile, car production posted its first growth in twenty-one months, with output rising by 10.32% year-on-year to 139,186 units in May. However, total vehicle production reached 594,492 units from January-May 2025, a 7.82% fall compared to the same period last year. Thailand—the largest automotive manufacturing hub in Southeast Asia and a key export base for global automakers including Toyota and Honda—reported a 1.7% year-on-year decline in vehicle exports, easing from a 6.3% contraction in April.