Thai vehicle sales increased by 5% in May 2025 as BEVs drove market growth

From Yahoo Finance: 2025-06-30 05:00:00

Thailand’s new vehicle market saw a 5% increase in May 2025, with sales reaching 52,229 units compared to the previous year’s 49,871 units. This growth follows two years of sharp declines attributed to tight lending criteria by banks and auto finance companies due to non-performing loans. Sales of battery electric vehicles (BEVs) drove the market, while pickup truck sales continued to drop. The government is considering scrappage incentives to boost sales. Despite being the largest vehicle producer in ASEAN, Thailand experienced an 8% decrease in output to 594,492 units in the first five months of the year.



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