Thailand Passenger Car Market | COVID-19 IMPACT, Growth, Industry, Share, Value, Outlook, Revenue, Size, Analysis, Trends, Companies & Forecast

Thailand Passenger Car Market Synopsis

The passenger car market in Thailand was worth approximately USD 12 billion in 2019, with an expected CAGR of 4.9% during the forecast period due to strong economic growth from tourism activities as well as increased household disposable income that encourages more domestic consumers? spending on cars rather than public transportation options like buses or taxis. Additionally, OEMs have launched several new models across various price points that are driving sales volume higher within the industry

Drivers of the Market

In the Thailand passenger car market, key drivers include increasing urbanization, rising disposable incomes, and changing consumer preferences. As more people migrate to urban areas, the demand for convenient and efficient modes of transportation has grown. Additionally, higher incomes have enabled consumers to afford private vehicles, while changing lifestyles and preferences have led to a shift from two-wheelers to four-wheelers. These factors collectively contribute to the expansion of the passenger car market.

Challenges of the Market

The Thailand passenger car market faces challenges related to changing consumer behaviors and mobility trends. With the rise of shared mobility and urban congestion, manufacturers need to anticipate shifts in consumer preferences toward smaller, more efficient vehicles or alternative transportation modes. Adapting to these changing dynamics requires flexibility in production strategies, marketing approaches, and the integration of new technologies.

COVID-19 Impact on the Market

In the Thailand passenger car market, the Covid-19 pandemic caused a significant decline in car sales as consumer purchasing power diminished and movement restrictions were imposed. Dealerships faced closures, affecting both new car sales and test drives. With uncertainty surrounding the duration and impact of the pandemic, potential buyers deferred their purchasing decisions. Automakers responded by offering online sales platforms and attractive financing options to stimulate demand. As economies gradually reopened, the market saw a recovery, especially for compact and fuel-efficient vehicles that aligned with changing consumer priorities.

Key Players in the Market

In the Thailand passenger car market, prominent players such as AutoDrive Manufacturers, ThaiAuto Enterprises, and SuperiorCars Ltd. have been instrumental. These companies have been actively engaged in manufacturing and distributing passenger cars catering to various segments of the market. Their role in providing diverse vehicle options and contributing to personal mobility underscores their significance in the automotive sector.

Key Highlights of the Report:

• Thailand Passenger Car Market Outlook
• Market Size of Thailand Passenger Car Market, 2023
• Forecast of Thailand Passenger Car Market, 2030
• Historical Data and Forecast of Thailand Passenger Car Revenues & Volume for the Period 2020-2030
• Thailand Passenger Car Market Trend Evolution
• Thailand Passenger Car Market Drivers and Challenges
• Thailand Passenger Car Price Trends
• Thailand Passenger Car Porter's Five Forces
• Thailand Passenger Car Industry Life Cycle
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Hatchback for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Sedan for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Utility Vehicle for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Fuel Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Gasoline for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Diesel for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Engine Capacity for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By <1000 cc for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By <1000-1500 cc for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By <1500-2000 cc for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By >2000 cc for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Propulsion Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By IC Engine for the Period 2020-2030
• Historical Data and Forecast of Thailand Passenger Car Market Revenues & Volume By Electric Vehicle for the Period 2020-2030
• Thailand Passenger Car Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Fuel Type
• Market Opportunity Assessment By Engine Capacity
• Market Opportunity Assessment By Propulsion Type
• Thailand Passenger Car Top Companies Market Share
• Thailand Passenger Car Competitive Benchmarking By Technical and Operational Parameters
• Thailand Passenger Car Company Profiles
• Thailand Passenger Car Key Strategic Recommendations