Chinese Brands Lead Thailand's NEV Market, Entering New Era of "Value Competition"

The 47th Bangkok International Motor Show is about to open, with around 15 Chinese automakers participating and continuously expanding their booth presence. In 2025, Thailand’s total vehicle sales reached 620,000 units, up 8% year-over-year, including 140,000 new energy vehicles (NEVs)—a surge of 82% compared to the previous year—accounting for a market penetration rate of 22.2%. SUVs surpassed sedans for the first time to become the dominant segment, while pickup trucks saw their market share fall below 30%. Japanese brands’ market share dropped to 69.3%, while Chinese brands rose sharply to 21.5%, firmly securing second place. In 2025, Chinese brands sold over 100,000 vehicles in Thailand for the first time, with NEVs making up as much as 90% of those sales. Brands like BYD and MG are targeting the mainstream market, while Zeekr and Denza are entering the premium segment. In terms of production capacity, Chinese automakers have planned annual manufacturing capacity in Thailand exceeding 550,000 vehicles and are accelerating the localization of their supply chains. With subsidies set to phase out and import tariffs scheduled to rise in 2026, Chinese brands are experiencing noticeable short-term market share volatility, prompting the industry to shift from a “price war” to a “value war” centered on brand, technology, and ecosystem.