Key View
- Our short-term outlook for vehicle sales in Thailand has turned negative as stricter loan requirements and sluggish economic growth weigh on vehicle sales in 2024.
- The pick-up truck segment will be most impacted by more stringent loan criteria, generating headwinds to the overall commercial vehicle segment.
- Stricter lending criteria are expected to hinder the rate of EV adoption, which, in turn, will affect EV sales. Additionally, reduced incentives for consumers are poised to further dampen the sales of electric vehicles.
