According to the latest data released by the Federation of Thai Industry, from January to May 2024, the top 10 manufacturers in the Thai passenger car market accounted for about 85% of the overall new car sales, of which the Japanese in the top 10 car companies, the share fell from about 72.1% in the same period in 2023 to about 63.4% at present. Among the Chinese brands, BYD's market share has jumped to fourth place (9.6%), second only to Toyota, Honda and Mitsubishi. From the perspective of the overall car market in Thailand, the market share of Chinese car companies has accounted for 17.8%. The Japanese share has fallen from about 81.3% in the same period in 2023 to about 79.9% today.
Industry analysts believe that: "After more than ten years of accumulation and development in the field of new energy vehicles, China has a wealth of technical and supply chain advantages." These advantages enable Chinese new energy vehicle brands to reduce production costs and improve product competitiveness. At the same time, as China's experience in the field of electric vehicles continues to accumulate, its overall strength continues to increase. Together, these factors have promoted the rapid rise of Chinese new energy vehicle brands in the Southeast Asian market."