According to Thai media reports, the latest data released by the Federation of Thai Industries (FTI) Automotive Industry Club shows that domestic car sales reached 73,936 units in January. The surge is attributed to the final phase of the government's EV 3.0 program and the transition to the EV 3.5 program, which requires a 1:2 production ratio (1 imported vehicle, 2 domestically produced vehicles). Driven by this policy, passenger car and SUV sales surged by 76.2% and 93.6%, respectively.

In stark contrast to the booming electric vehicle market, the pickup truck market, a pillar of the Thai economy, shrank by 5.5%. Industry analysts point out that sluggish domestic economic growth and declining consumer purchasing power are the "perfect storm" causing this phenomenon.

Financial institutions have significantly tightened loan approval standards, resulting in a high rejection rate for car loan applications. As a result, the overall manufacturing capacity utilization rate is currently below 60%.

Despite uneven performance across industries, the Federation of Industries (FII) noted encouraging macroeconomic signals for the fourth quarter of 2025, with growth reaching 2.5%. Private sector investment grew by 6.5%, driven by a 12.2% increase in factory construction and a surge of 21.8% in machinery imports.

SURPON, spokesperson for the FII's Automotive Industry Club, expressed optimism for the coming year, setting a production target of 550,000 vehicles, a 10% increase from 2025. However, he emphasized that the sustainability of the economic recovery largely depends on the policies of the new government.