How to keep Thailand’s EV boom going

Many consumers eyeing BEVs and hybrids for their next car, Ipsos survey finds

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The Thai automotive landscape is transitioning from internal combustion engine (ICE) vehicles to electric vehicles due to a combination of factors, including government incentives, evolving consumer attitudes and rapid advancements in EV technology and affordability.

Despite a significant decline in Thailand's overall automotive sales — reaching levels not seen since 2009 due to factors like high household debt and stricter lending policies — the EV market continues its upward trajectory.

The market research firm Ipsos looks at the factors shaping the change in a new study titled “Thailand Auto Trend — The Rise of Pure Electric Cars: EVs Transforming the Future of Mobility”.

In the first quarter of 2025, sales of all electric vehicles (BEV, PHEV and HEV) in Thailand surged to 67,000 units, a 7% increase year-on-year. Notably, this segment accounted for 40.2% of total vehicle sales during the quarter. Hybrid vehicles (HEVs) were the primary growth driver, making up 62% of the EV market, signalling a potential transitional phase towards fully electric vehicles.

The Thai EV industry is highly competitive, with new Chinese manufacturers leading the charge. Their introduction of attractively priced and strategically positioned products has been a game-changer, said Satiensit Phornboonyarat, associate director of Ipsos.

The trend was evident at the 46th Bangkok International Motor Show in April, when 8 out of the top 15 brands with the highest bookings were Chinese, surpassing their Japanese and European competitors. BYD led with 10,353 bookings, followed by GAC AION (7,018), Deepal (6,589) and GWM (4,959).