ส.อ.ท. เผยยอดขาย-ส่งออกรถยนต์ปี 67 ทรุด ตั้งเป้าปี 68 ยอดผลิต 1.5 ล้านคันFTI Reports a Sharp Decline in Automobile Sales and Exports for 2024, Sets Production Target of 1.5 Million Units for 2025

On Tuesday, January 28, 2025, Mr. Surapong Phaisithapattanapong, Advisor to the President of the Automotive Industry Group and Spokesperson for the Automotive Industry Group of the Federation of Thai Industries (FTI), disclosed production numbers, domestic sales, and exports of automobiles and motorcycles for December 2024. The total production reached 104,878 units, a decrease of 17.37% from December 2023, driven by a 28.50% decrease in domestic sales and a 9.47% drop in export production. In total, 1,468,997 vehicles were produced from January to December 2024, showcasing a 19.95% decline from the same period in 2023, with 38,749 passenger cars produced in December 2024, marking a 17.75% decrease year-on-year.

Production
The total number of vehicles produced in December 2024 was 104,878 units, reflecting a decrease of 17.37% from December 2023. Domestic sales production declined by 28.50%, consistent with the drop in domestic sales, and export production decreased by 9.47%, in line with reduced export volumes. During the January to December 2024 period, a total of 1,468,997 vehicles were manufactured, down 19.95% from the same period in 2023.

In December 2024, a total of 38,749 passenger cars were produced, representing a 17.75% decrease from December 2023. This figure can be categorized as follows:
•    Internal Combustion Engine Passenger Cars: 19,127 units, a decrease of 40.41% from December 2023.
•    Battery Electric Vehicle Passenger Cars: 1,198 units, an increase of 19,866.67% from December 2023.
•    Plug-in Hybrid Electric Vehicle Passenger Cars: 2,528 units, a rise of 1,070.37% from December 2023.
•    Hybrid Electric Vehicle Passenger Cars: 15,896 units, marking a 7.47% increase from December 2023.
 

The total production of passenger cars from January to December 2024 amounted to 558,440 units, accounting for 38.02% of total production, down 13.53% from the same period in 2023. This breaks down into:
•    Internal Combustion Engine Passenger Cars: 349,934 units, a 28.66% decrease from January to December 2023.
•    Battery Electric Vehicle Passenger Cars: 9,688 units, an increase of 5,807.32% from January to December 2023.
•    Plug-in Hybrid Electric Vehicle Passenger Cars: 7,981 units, a 11.22% decrease from January to December 2023.
•    Hybrid Electric Vehicle Passenger Cars: 190,837 units, a 30.58% increase from January to December 2023. For both light-duty and heavy-duty passenger vehicles, there was no production in December 2024, resulting in a total of 10 units produced from January to December 2024, down 91.53% from the previous year. In December 2024, 66,129 trucks were produced, down 17.14% from the same month the previous year, while total production from January to December 2024 reached 910,547 units, a decline of 23.42% from the same period in 2023.

In December 2024, a total of 65,168 one-ton pickups were produced, a decrease of 15.12% from December 2023. The total production from January to December 2024 was 893,700 units or 60.84% of total production, down 22.39% compared to January to December 2023. This includes:
•    Pickup Trucks: 141,819 units, a 30.46% decrease from January to December 2023.
•    Double Cab pickups: 592,547 units, down 21.48% from January to December 2023.
•    Pickup Passenger Vehicles: 159,334 units, down 17.43% compared to January to December 2023.

Trucks weighing under 5 tons and over 10 tons had production of 961 units in December 2024, a decrease of 68.29% from December 2023. The total production from January to December 2024 was 16,847 units, down 55.04% from the same period in 2023.

Exports
In December 2024, production totaled 67,203 units, representing 64.08% of total production, down 9.47% compared to December 2023. For the period from January to December 2024, a total of 1,009,141 units were exported, accounting for 68.70% of total production, a drop of 12.07% from the same time period in 2023. Passenger cars produced for export in December 2024 totaled 14,611 units, a decrease of 39.40% from December 2023. From January to December 2024, a total of 295,353 were produced for export, equivalent to 52.89% of total passenger car production, down 10.54% compared to the prior year.

For one-ton pickups in December 2024, 52,592 units were produced for export, an increase of 4.93% from December 2023, with total production for export amounting to 713,788 units or 79.87% of total pickup production, a decrease of 12.69% compared to January to December 2023. Breakdown:
•    Pickup Trucks: 61,551 units, down 19.89% from January to December 2023.
•    Double Cab pickups: 525,189 units, down 14.37% from January to December 2023.
•    Pickup Passenger Vehicles: 127,048 units, down 0.23% from January to December 2023.

Production for Domestic Sales
In December 2024, 37,675 units were produced for domestic sales, accounting for 35.92% of total production, down 28.50% from December 2023. For the period from January to December 2024, production totaled 459,856 units, equal to 31.30% of total production, down 33.09% from the same period in 2023. In December 2024, 24,138 passenger cars were produced for the domestic market, up 4.94% from December 2023, while total production from January to December 2024 amounted to 263,087 units, accounting for 47.11% of total passenger car production, a decline of 16.66% compared to January to December 2023.

One-ton pickups produced for the domestic market in December 2024 totaled 12,576 units, a decrease of 52.82% from December 2023. From January to December 2024, total production was 179,912 units, accounting for 20.20% of total pickup production, which indicates a decline of 46.14% from the preceding year. Breakdown:
•    Pickup Trucks: 80,268 units, down 36.85% from January to December 2023.
•    Double Cab pickups: 67,358 units, down 52.33% compared to January to December 2023.
•    Pickup Passenger Vehicles: 32,286 units, down 50.80%.
       Passenger vehicles under 10 tons and above 10 tons had no production in December 2024, accumulating a total of 10 units produced from January to December 2024, a decrease of 91.53%.
       In December 2024, truck production reached 961 units, marking a 68.29% decrease from December 2023, while a total of 16,847 units were produced from January to December 2024, a reduction of 55.04% from the same period in 2023.

Motorcycles
In December 2024, motorcycle production totaled 202,614 units, up 0.74% from December 2023, comprising 153,702 complete built units (CBU), a decrease of 6.58% from the prior year, and 48,912 component sets (CKD), an increase of 33.64% from 2023. From January to December 2024, total motorcycle production reached 2,426,367 units, a decline of 1.88% from 2023, with 1,887,208 CBU units (down 11.01%) and 539,159 CKD units (an increase of 53.11%).

Sales
The domestic sales of vehicles in December 2024 amounted to 54,016 units, reflecting a 27.67% increase from November 2024, but a 20.94% decrease from December 2023, attributed to stringent credit granting approval by financial institutions due to high household debt. The increase in vehicle loan defaults has also been influenced by low economic growth, while the industrial production index continues to drop, reducing consumer purchasing power.

Passenger cars and light vehicles accounted for 32,305 units, constituting 59.81% of total sales, decreasing 18.22% from the same month last year. Breakdown:
•    Internal Combustion Engine Passenger Cars and Light Vehicles: 14,374 units, 26.61% of total sales, a decline from 18.12% in the same month last year.
•    Battery Electric Vehicle Passenger Cars and Light Vehicles: 5,289 units, 9.79% of total sales, down from 39.58% compared to the same month last year.
•    Plug-in Hybrid Electric Vehicle Passenger Cars and Light Vehicles: 287 units, 0.53% of total sales, a significant increase of 168.22% year-on-year.
•    Hybrid Electric Vehicle Passenger Cars and Light Vehicles: 12,355 units, representing 22.87% of total sales, a decrease of 5.58% from the previous year.

Sales of pickups reached 14,410 units, down 26.27% from the same month last year, while PPV sales were 4,494 units, up by 0.31% from the previous year. Truck sales between 5 to 10 tons totaled 1,283 units, representing a decrease of 61.26% year-on-year, while other types of vehicles saw sales of 1,524 units, reflecting a 2.21% increase year-on-year.

Motorcycle sales amounted to 124,793 units, decreasing by 8.66% from November 2024, and down 5.73% from December 2023.

From January to December 2024, vehicle sales reached 572,675 units, down 26.18% from 2023, broken down as follows:
Passenger cars and light vehicles totaled 341,956 units, which comprised 59.71% of total sales, down 15.98% from the same period last year.
•    Internal Combustion Engine Passenger Cars and Light Vehicles: 155,044 units, 27.07% of total sales, a reduction from 35.01% in the same period last year.
•    Battery Electric Vehicle Passenger Cars and Light Vehicles: 66,732 units, representing 11.85% of total sales, also down from 9.29% the previous year.
•    Plug-in Hybrid Electric Vehicle Passenger Cars and Light Vehicles: 2,391 units, corresponding to 0.42% of total sales, a 26.17% increase from last year's figures.
•    Hybrid Electric Vehicle Passenger Cars and Light Vehicles: 117,789 units, 20.57% of total passenger car and light vehicle sales, a 26.71% increase year-on-year.

Pickup truck sales were recorded at 163,347 units, down 38.30% compared to the same month last year, while PPV sales totaled 36,843 units, reflecting a 38.89% decline year-on-year. Truck sales between 5 to 10 tons accounted for 16,046 units, a decrease of 42.03% from the same month the previous year, while other vehicle types sold 14,483 units, dropping 9.93% in comparison to the previous year.

Motorcycle sales totaled 1,683,239 units, representing a 9.35% decline from January to December 2023, where ICE motorcycles accounted for 1,683,039 units, decreasing by 9.30%, and BEV motorcycles totaled 200 units, a drop of 52.38% from the same period last year.

Exports
During December 2024, 76,346 units of completed vehicles were exported, representing a decline of 14.84% from the prior month and a decrease of 15.46% year-on-year. This drop is attributed to high bases from 2023 and cautious spending driven by uncertainties from international conflicts and the global economy, alongside competition from electric vehicle exports from China and gasoline vehicles from other countries, which compounded with limited shipping space and lower shipping frequency. The stringent carbon emissions control measures enacted by partner countries have also restricted the importability of certain vehicle models.

Vehicle export types for December 2024 were categorized as follows:
•    Pickups: 49,931 units, accounting for 65.40% of total exports, a decline of 6.75% year-on-year.
•    Internal Combustion Engine Passenger Cars: 12,566 units, comprising 16.46% of total exports, down 41.61% from 2023.
•    Hybrid Electric Vehicle Passenger Cars: 4,511 units, accounting for 5.91%, representing a 54.75% increase year-on-year.
•    PPV: 9,338 units, covering 12.23% of total exports, a decrease of 24.20% from the previous year. The export value of vehicles amounted to 52,414.34 million THB, reflecting a year-on-year decrease of 16.14%.

•    Engines generated an export value of 2,956.81 million THB, a 5.38% increase from December 2023.
•    Other automotive parts had an export value of 15,009.67 million THB, down 10.97% from last year.
•    Spare parts achieved an export value of 2,249.08 million THB, up 3.62% year-on-year.
Total exports for December 2024, including completed vehicles, engines, automotive parts, and spare parts, reached 72,629.90 million THB, down 13.88% from the same month in the previous year.

From January to December 2024, a total of 1,019,213 completed vehicles were exported, reflecting a decline of 8.80% from the prior year. Breakdown:
•    ICE Pickups: 583,770 units, accounting for 57.28% of total exports, down 11.49% year-on-year.
•    ICE Passenger Cars: 250,184 units, comprising 24.55% of total exports, a decrease of 20.91% from the previous year.
•    HEV Passenger Cars: 49,438 units, accounting for 4.85%, significantly up by 233.03% from last year's figures.
•    PPVs: 135,821 units, covering 13.33% of the total, experiencing a 7.11% increase from the previous year. The total export value reached 699,162.47 million THB, reflecting a decline of 2.89% compared to the previous year. Breakdown:
•    Engines: Export value was recorded at 35,432.15 million THB, down 8.33% year-on-year.
•    Other automotive parts generated an export value of 191,290.62 million THB, exhibiting an increase of 0.95% year-on-year.
•    Spare parts achieved an export value of 26,664.93 million THB, representing an increase of 8.15% from the previous year. Total exports from January to December 2024, including engines, automotive parts, and spare parts, reached 952,550.17 million THB, a decrease of 2.08% from the previous year.

Motorcycles
In December 2024, a total of 81,175 units (including CBU + CKD) were exported, reflecting a 0.06% decrease from November 2024 but a 6.01% increase from December 2023, with a value of 5,361.58 million THB, down 6.98% from the previous year.

•    Motorcycle parts had an export value totaling 124.06 million THB, a drop of 23.95% compared to December 2023.
•    Motorcycle spare parts totaled an export value of 181.62 million THB, up 27.40% from December 2023. Total export value for motorcycles in December 2024, including parts and spare parts, reached 5,667.26 million THB, down 6.63% year-on-year.

In January to December 2024, a total of 938,762 motorcycles (including CBU + CKD) were exported, marking a 14.12% increase compared to 2023, with an export value amounting to 63,968.75 million THB, down 6.74% from the previous year.
•    Motorcycle parts recorded an export value of 2,522.96 million THB, portraying a drop of 13.75% from the previous year.
•    Motorcycle spare parts recorded an export value of 1,973.25 million THB, revealing a rise of 4.04% year-on-year. The total export value for motorcycles and associated components from January to December 2024 stood at 68,464.95 million THB, down 6.74% from the previous year.

In December 2024, the total export value for completed vehicles, engines, automotive parts, and motorcycle components amounted to 78,297.16 million THB, a decline of 13.39% compared to 2023. The total export value from January to December 2024 reached 1,021,015.12 million THB, a decline of 2.41% from the previous year.

In 2025, the production target for automobiles is set at 1,500,000 units, signifying a 2.11% increase, while the motorcycle production target is anticipated at 2,100,000 units, reflecting an 11.28% increase.

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Mr. Surapong Phaisithapattanapong, Advisor to the President of the Automotive Industry Group and Spokesperson for the Automotive Industry Group of the Federation of Thai Industries (FTI), disclosed the estimated production figures for automobiles and motorcycles from group members for the year 2025, classified by production for export and domestic sales as follows:

Automobiles
The estimated production for 2025 is approximately 1,500,000 units, surpassing the 1,468,997 units produced in 2024, representing an increase of 2.11%. This breaks down into approximately 1,000,000 units for export, accounting for 66.66% of total production, and around 500,000 units for domestic sales, comprising 33.34% of total production.
•    Production for export: 1,000,000 units, down 0.91% from last year's figure of 1,009,141 units.
Positive factors include:
o    Short-term implications from the not overly high import tax increases in the United States, which may not significantly affect global trade values as originally feared, requiring close monitoring.
o    Potential reductions in interest rates and oil prices may enhance purchasing power in trade partner countries, thereby improving export performance that needs to be observed closely.
o    Monitoring regional conflicts to see if they conclude, which would impact spending decisions by the populations in various countries.
Negative factors include:
o    Uncertainties surrounding trade and other measures from President Donald Trump regarding subsequent import tax hikes.
o    Increasing competition amongst partner countries.
o    Partner countries producing pickups could decrease orders and might export instead of Thailand due to decreasing pickup production.
o    Evolving conflicts in various regions, whether old or new.
o    Stricter carbon emissions measures affecting the importability of certain vehicle models by partner countries.
•    Production for domestic sales: 500,000 units, reflecting an 8.73% increase from last year’s production of 459,856 units.
Positive factors include:
o    Production of electric vehicles compensating for electric vehicle imports from the EV 3.0 initiative at a rate of 1.5 times.
o    Domestic economic growth forecasted at 2.4-2.9%.
o    An anticipated increase in foreign tourists compared to 2024.
o    Growth expected in agricultural exports, industrial goods, and certain sectors.
o    Government cash distributions to various groups.
o    Stimulating the economy through e-Receipts.
o    Public sector investments.
o    In 2024, the number of applications for investment promotion reached the highest in ten years at 1.12 trillion THB, reflecting a 35% increase from 2023 with 102,366 million THB in the automotive and parts sectors.
o    Interest rates may be lowered domestically, reducing costs and debt burdens, which could help increase domestic purchasing power.
o    The potential decline in oil prices following requests from the U.S. President may alleviate operating costs and improve citizen purchasing power.
Negative factors specified include:
o    Stricter credit approval from financial institutions stemming from high levels of household debt.
o    Monitoring the industrial production index to ascertain whether it continues to decline, as it contributes significantly (30%) towards the domestic economy and labor (16%).
o    The China-U.S. trade war may not be severe, which could slow the relocation of production bases from China to Thailand, as Thailand maintains a trade surplus with the U.S., impacting domestic employment.
o    High public debt levels might affect government economic stimulation efforts.
o    Cost of living remaining persistently high, affecting consumer purchasing power.
Motorcycles
The estimated production for 2025 is approximately 2,100,000 units, surpassing the 1,487,605 units produced in 2024, indicating a 0.10% increase, divided into an estimated output of about 400,000 units for export, representing 19.04% of total production, and 1,700,000 units for domestic sales, making up 80.96% of total production.
•    Production for export: 400,000 units, an uptick of 0.10% from the previous year.
•    Production for domestic sales: 1,700,000 units, increasing from last year by 14.28%.

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Newly registered electric vehicles of the BEV type in December 2024
In December 2024, there were 7,146 new registrations for electric vehicles (BEV), reflecting a decrease of 36.12% from December 2023, categorized as follows:
•    Passenger cars and various types: 5,352 units, down 42.03% from December 2023.
o    Passenger cars: 5,147 units.
o    Passenger vehicles for up to seven people: 195 units.
o    Business operation vehicles: 2 units.
o    Tourist vehicles: 8 units.
•    Pickup and van vehicles: 35 units, down 12.50% from December 2023.
•    Three-wheeled taxis: 2 units, down 95.35% from December 2023.
o    Three-wheeled taxis: 2 units.
•    Motorcycles totaled 1,648 units, showing a decline of 10.77% from December 2023.
o    Personal motorcycles: 1,648 units.
•    Buses numbered 79 units, an increase of 1,028.57% from last year.
•    Trucks amounted to 30 units, a 66.67% increase compared to the previous year.

From January to December 2024, the cumulative total of newly registered electric vehicles (BEV) amounted to 96,804 units, indicating a 3.21% decline from the previous year, categorized as follows:
•    Passenger cars and various types had a total of 69,979 units, a decline of 8.07% year-on-year.
o    Passenger cars: 68,023 units.
o    Passenger vehicles for up to seven people: 1,860 units.
o    Business operation vehicles: 12 units.
o    Tourist vehicles: 81 units.
•    Pickup trucks and vans totaled 604 units, an increase of 178.34% compared to the previous year.
•    Three-wheeled taxis amounted to 147 units, down 65.97% from last year.
o    Personal three-wheeled taxis: 40 units.
o    Three-wheeled taxi vehicles: 107 units.
•    Motorcycles totaled 25,119 units, marking an increase of 14.56% compared to 2023.
o    Personal motorcycles: 25,009 units.
o    Public motorcycles: 110 units.
•    Buses numbered 375 units, down 69.21% year-on-year.
•    Trucks totaled 580 units, reflecting a 523.66% increase from the previous year.

Newly registered electric vehicles for the HEV type in December 2024
In December 2024, there were 5,986 new registrations for electric vehicles (HEV), marking an 8.66% increase compared to the previous year, categorized as follows:
•    Passenger cars and various types totaled 5,937 units, up 8.56% from December 2023.
o    Passenger cars numbered 5,926 units.
o    Passenger vehicles for up to seven people: 4 units.
o    Tourist vehicles: 7 units.
•    Motorcycles reached 49 units, up 22.50% year-on-year.
o    Personal motorcycles: 49 units.
In the period from January to December 2024, the total new registrations for electric vehicles (HEV) reached 127,214 units, reflecting a 49.54% increase from 2023, broken down as follows:
•    Passenger cars and various types amounted to 126,646 units, marking a 49.92% increase from the last year.
o    Passenger cars: 126,525 units.
o    Passenger vehicles for up to seven people: 34 units.
o    Business operation vehicles: 18 units.
o    Tourist vehicles: 66 units.
o    Rental vehicles: 3 units.

Newly registered electric vehicles of the PHEV type in December 2024
In December 2024, there were 521 newly registered electric vehicles (PHEV), reflecting a 2.62% decrease year-on-year, as follows:
•    Passenger cars and various types totaled 521 units, down 2.62% from the previous year.
o    Passenger cars numbered 521 units.

As of December 31, 2024, the cumulative total of registered electric vehicles (BEV) amounted to 227,470 units, reflecting a 72.52% increase from the previous year, further categorized as:
•    Passenger cars and various types totaled 159,266 units, up 77.48% compared to the same period last year.
o    Passenger cars: 156,162 units, indicating a 75.69% increase year-on-year.
o    Passenger vehicles for up to seven people: 2,480 units, a 332.40% increase year-on-year.
o    Business operation vehicles: 78 units, up 105.26% from the previous year.
o    Tourist vehicles: 156 units, reflecting a 300% year-on-year rise.
o    Rental vehicles: 3 units, with no registrations in the same period last year.
o    Electronic ride-share vehicles: 387 units, a 94.47% increase from the previous year.
•    Pickups and vans: 869 units, rising 211.47% year-on-year.
•    Three-wheeled vehicles totaled 1,017 units, reflecting a 12.87% increase from the previous year.
o    Personal three-wheeled vehicles: 113 units, up 41.25% compared to last year.
o    Three-wheeled taxi vehicles: 904 units, rising 10.11% year-on-year.
•    Motorcycles amounted to 62,631 units, a 63.91% increase from the same time last year.
o    Personal motorcycles: 62,508 units, up 64.17% year-on-year.
o    Public motorcycles: 123 units, down 8.89% compared to last year.
•    Others:
o    Buses totaled 2,791 units, reflecting a 15.38% year-on-year increase.
o    Trucks totaled 896 units, showing an increase of 195.71% compared to the previous year.

As of December 31, 2024, the cumulative total of registered electric vehicles (HEV) was 469,543 units, marking a 36.65% increase from the previous year, categorized as follows:
•    Passenger cars and various types totaled 460,178 units, reflecting a 37.57% increase year-on-year.
o    Passenger cars numbered 459,163 units, up 37.61% from the same time last year.
o    Passenger vehicles carrying people: 498 units, with an increase of 4.18% from the previous year.
o    Business operation vehicles: 72 units, an increase of 41.18% from the previous year.
o    Tourist vehicles: 216 units, a rise of 39.35% from the previous year.
o    Rental vehicles: 5 units, a 150% increase from the previous year.
o    Electronic ride-share vehicles: 224 units, up 62.32% from last year.

As of December 31, 2024, the cumulative total of registered electric vehicles (PHEV) was 63,184 units, indicating a 17.05% increase from the previous year, categorized as follows:
•    Passenger cars and various types totaled 63,184 units, reflecting a 17.05% increase year-on-year.
o    Passenger cars: 63,113 units, reflecting a 17.07% rise year-on-year.
o    Business operation vehicles: 43 units, a 4.88% increase from the previous year.
o    Tourist vehicles: 18 units, down 14.29% from the previous year.
o    Rental vehicles: 5 units, a 66.67% increase from the previous year.