Thai pickup sales fall 7.11% as FTI seeks easier credit

The Federation of Thai Industries (FTI) is calling for easier access to pickup truck loans to support Thailand’s automotive supply chain, as pickup sales continued to fall in September despite surging electric vehicle demand lifting the overall domestic market.

FTI figures showed domestic pickup sales fell 7.11% year on year to 10,315 units in September 2026. Overall vehicle sales rose 14.28% to 55,255 units, although that total was 7.61% below August.

The FTI attributed weak pickup demand to tighter lending criteria, sluggish economic growth, subdued purchasing power and high household debt. The federation urged the government to encourage financial institutions to relax lending conditions, with the aim of preserving production, employment and the wider automotive supply chain.

Pickup slump puts pressure on local suppliers

The FTI also reported sales of 5,003 units in its one-tonne pickup category, down 11.50% year on year in September.

Thailand’s automotive supply chain comprises more than 2,500 businesses and employs over 800,000 people, according to the FTI. Combustion-engine pickups use up to 90% locally made components, making the segment particularly important to domestic suppliers.

The FTI reported that domestic production of parts for combustion-engine pickups had fallen by more than 300,000 components. Manufacturers of radiators, exhaust systems, seats, air-conditioning systems, glass, steel and petrochemical products had reduced output. The downturn was also affecting income at showrooms, among sales staff and financial institutions, and reducing government tax receipts.

Pickup exports to the Middle East fell by 33,118 vehicles, or 37.73%, during January–September 2026, according to the FTI. The federation attributed the decline to the US–Iran conflict and the closure of the Strait of Hormuz.

The FTI also urged the government to formally announce a revised excise-tax structure for completely built-up (CBU) imported vehicles, seeking fair treatment for companies investing in Thai factories producing both combustion-engine and electric vehicles.

“Clear changes to the excise tax structure would signal that Thailand values long-term investment and domestic value creation, helping protect and support the Thai automotive industry as a major, sustainable global production and export base,” the FTI said.

EV sales surge while combustion cars retreat

FTI passenger-car sales figures showed strong growth in battery-electric and hybrid vehicles in September 2026, while combustion-engine models continued to lose ground.

Passenger-car sales in September 2026, according to the Federation of Thai Industries:

• Battery electric vehicles (BEVs): 16,404 units, up 80.13% year on year.
• Hybrid electric vehicles (HEVs): 14,113 units, up 10.78% year on year.
• Plug-in hybrid electric vehicles (PHEVs): 1,497 units, up 137.24% year on year.
• Internal combustion engine (ICE) vehicles: 7,776 units, down 14.50% year on year.

During January–September, BEV passenger-car sales reached 161,532 units, up 98.56%, while HEV sales rose 13.95% to 116,431, according to the FTI. ICE passenger-car sales fell 20.20% to 77,837 over the same period.

Separate registration figures cited by the FTI showed 22,587 newly registered BEVs in September, up 89.71% year on year. New BEV registrations during January–September reached 191,273, an increase of 83.03%.

Cumulative BEV registrations stood at 561,978 as of September 30, 2026, up 70.14% year on year, according to the FTI. Cumulative HEV registrations reached 734,831, up 27.95%, while the PHEV total rose 24.50% to 97,183.

Factories restart as FTI retains production target

Suwat Supakarndechakul, chairman of the FTI’s Automotive Industry Club, said flooding across several areas, particularly around Amata City Industrial Estate in Chon Buri, had directly affected parts manufacturers. Component shortages, transport disruption and employees’ inability to reach work forced several vehicle assembly plants to suspend production temporarily between late September and mid-October.

The FTI said normal production had resumed from mid-October at all affected factories and expected the flooding not to affect its 2026 production target of 1.45 million vehicles. The target comprises 900,000 vehicles for export and 550,000 for domestic sale.

Thailand produced 120,319 vehicles in September, down 6.08% year on year, according to the FTI. Output during January–September reached 1,080,030 vehicles, up 0.39% from the corresponding period in 2025.

Of September’s output, 81,068 vehicles were built for export, down 7.09% year on year and representing 67.38% of production. Another 39,251 were built for domestic sale, down 3.91% and accounting for 32.62% of output, according to the FTI.

FTI member automakers have introduced consumer assistance campaigns, including lower labour charges, spare-parts discounts, discounts on new vehicles and repayment holidays.

September exports rise, but nine-month shipments fall

FTI figures showed exports of fully assembled vehicles increased 4.55% year on year to 89,972 in September, but January–September shipments fell 4.94% to 655,009.

September’s vehicle exports were worth 63,130.05 million baht, up 13.18%, according to the FTI. Including engines, components and spare parts, the export value reached 82,654.95 million baht, an increase of 8.15%.

Exports to Asian markets grew 27.16% in September and accounted for 28.61% of vehicle shipments, according to the FTI. Asia was the second-largest regional market after Australia and Oceania, which represented 29.30%.

The combined export value of vehicles, engines, components and spare parts during January–September was 638,081.34 million baht, down 2.99%, according to the FTI.

Motorcycle production fell 4.80% year on year to 195,723 units in September, while domestic sales rose 12.64% to 151,434 and exports of fully assembled motorcycles slipped 1.14% to 74,353, FTI figures showed.

Motorcycle exports, including components and spare parts, were worth 5,536.23 million baht in September, up 14.05%, according to the FTI. This brought the combined export value of all automotive products and related components to 88,191.18 million baht, an increase of 8.50%.