DUBLIN, Sept. 16, 2021 /PRNewswire/ — The “Thailand Automotive Outlook, 2021” report has been added to ResearchAndMarkets.com’s offering.
Thailand’s TIV dropped by 21.4% in 2020 when compared to 2019. Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units.
The commercial vehicle (CV) segment continues to dominate with a 56.6% share, and it is projected to reach 57.3% in 2021, driven by government stimulus measures in response to the pandemic. Diesel powertrain sales rose from 54.0% in 2019 to 56.8% in 2020, propelled by the high demand for the new Isuzu D-Max and the updated Toyota Hilux.
Vehicles with engine capacity less than 1,300 cc are the most popular segment in the Thailand passenger vehicle (PV) market (28.5% market share in 2020). Demand is driven by the eco-car models offered with downsized engine specifications. Given both…
