Notably, commercial vehicle sales plummeted by 17%. However, the passenger car sector saw a 10% uplift, selling 292,505 units.

The sales slump was linked to a tepid economic bounce-back, high personal debt, strict lending conditions, and elevated interest rates.

Leading brands Toyota, Isuzu, Honda, Ford, and Mitsubishi remained dominant in Thailand. A highlight was Chinese manufacturer BYD, claiming the sixth spot due to its booming electric vehicle sales.

Here are the top-selling car brands in Thailand from January to December 2023:

1. Toyota - 265,949 units

2. Isuzu - 151,935 units

3. Honda - 94,336 units

4. Ford - 36,483 units

5. Mitsubishi - 32,668 units

6. BYD - 30,432 units

7. MG - 27,311 units

8. Mazda - 16,544 units

9. Nissan - 16,423 units

10. Neta - 13,836 units

Among Chinese brands, BYD led with 30,432 units followed by MG, Neta, Great Wall Motor, and GAC AION.