H. Yoo
Research expert covering South Korea
Automotive industry in Thailand - statistics & facts
The automotive industry in Thailand is a vital contributor to the Thai economy. With the stable economic foundation and resources that the country possesses, Thailand is equipped with a solid ground for future automotive developments. Through the help of government policies, Thailand has grown into a functioning foreign original equipment manufacturer (OEM), particularly in the automotive industry. In 2024, Thailand was the leading Southeast Asian country, among the countries with the highest number of Japanese automotive manufacturing plants in Asia.
The high capacity of vehicle production
Vehicle manufacturing in Thailand started after the Thai government began to import automotives in the 1960s for the country鈥檚 economic expansion. Vehicle parts were mainly focused on then, especially for vehicle bodies and suspensions, since the demand in this area had increased. In 2024, the production capacity of automobiles in Thailand reached 1.47 million units. Passenger cars dominate vehicle production in Thailand, with more than 550,000 units of vehicles produced in 2024.International automotive trading
Thailand鈥檚 economy relies on various significant industries; the automotive industry is the country鈥檚 second-largest export industry after the computer parts industry. A significant share of Thailand鈥檚 international trade is from the inflow and outflow of automotive trading. Initially, Thailand鈥檚 manufacturing industry started with the 鈥淎nglo-Thai Motor Company鈥, a joint venture between Ford of Britain and the Thai Motor Industry Co., which introduced the imports of vehicle parts and performed local assembly for the domestic market. In 2023, vehicle parts and accessories were the leading components for automotive product export value in Thailand.Key players in Thailand's automotive industry
Thailand鈥檚 automotive industry is driven by several key international players. In 2012, various Japanese automotive companies expressed their interest to continue investments in the country, despite Thailand suffering from a catastrophic flood at the end of 2011. Since Japanese automotive enterprises had great confidence in Thailand鈥檚 economic attributes, Japanese car brands have been the most sought-after vehicles for Thai consumers. Toyota is certainly one of the most popular car brands in Thailand, accounting for around one-third of the market share of domestic car manufacturers across the country. As the car market's leader, Toyota cars were the highest-selling cars in the country in 2024.
