Decline in Automotive Sales

Thailand's automotive sector has witnessed a significant downturn, with sales plummeting by 10% to approximately 97,000 units. Leading manufacturers such as Toyota, Isuzu, and BYD have all reported notable decreases in their sales figures.

Economic Factors at Play

The downturn is largely attributed to a sluggish economic recovery, high levels of household debt, and stricter lending conditions. The one-tonne pickup truck segment, often seen as a barometer for economic health, has been particularly affected.

Industry Leaders Weigh In

Supakorn Ratanawaraha, Toyota Motor Thailand's executive vice president, highlighted the sideways market trend in February, pointing to a clear year-on-year decline reflective of the current economic climate. Despite a recent interest rate cut by the Bank of Thailand, the industry's recovery is heavily dependent on broader economic improvements.

Looking Ahead: The Bangkok Motor Show 2025

With sales figures for major brands showing widespread declines, industry stakeholders are hopeful that the upcoming Bangkok Motor Show 2025 will provide a much-needed boost. The event, known for its new model launches and promotional offers, is anticipated to significantly increase consumer interest and potentially reverse the current sales trend.

Optimism Amid Challenges

Chaturon Komolmis, vice chairman of the Motor Show, expressed optimism for a 10% increase in revenue compared to last year, despite the economic challenges. The participation of 54 automotive companies and an expanded exhibition space for car accessories are expected to be key attractions, building on last year's success of over 53,000 car bookings and 5,000 motorcycle bookings.