Japan Autos, Auto Parts and Auto-tech Sector: June sales in Thailand: Continued growth in BEVs and HEVs

Research evidence excerpt

Japan Autos, Auto Parts and Auto-tech Sector: June sales in Thailand: Continued growth in BEVs and HEVs

Global Research

17 July 2026ab

Japan Autos, Auto Parts and Auto-tech Equities

JapanSector

Automobiles

June sales in Thailand: Continued growth in

Kohei Takahashi

BEVs and HEVs Analyst

kohei.takahashi@ubs.com

+81-3-5208 6172

Mao Eguchi

EVs driving volume growth

Associate Analyst

Thailand's new automobile registrations in June totalled 65,000 units (+15% yoy), mao.eguchi@ubs.com

continuing strong growth from the previous month (Figure 1). BEVs were the main driver +81-3-5208 6242

of the yoy increase, with registrations rising 48% yoy to 20,000 units (31% weighting,

Figure 3), while Chinese brands maintained a market share above 30%. Supported by

new models and other factors, Geely, Changan and Chery recorded notable growth,

while BYD fell 20% yoy. Similar to BEVs, HEVs also remained strong, with registrations

increasing 26% yoy to 14,000 units. After being lowered on 8 July, retail gasoline prices

fell to a level 14% above the end-February level (versus a peak of 47% above this level),

but crude oil prices have since risen again (Figure 14). Uncertainty over the outlook for

retail gasoline prices remains and this could continue to influence the powertrain mix of

new vehicle sales.

Toyota alone recovers in pickups

Pickup truck registrations rose 4% yoy to 12,500 units in June (Figure 5). By company,

however, only Toyota, which has its own group sales financing company, recovered with

growth of 17% yoy, while truck registrations fell 2% yoy at Isuzu, 37% at Mitsubishi and

26% at Ford. As a result, Toyota's share rose to 55% (Figure 6). At its latest Q2 (April-

June) earnings briefing, Thai financial services company TISCO stated that it would