logo

Thailand Used Car Market Size (2024 - 2029)

The Thailand used car market is a significant and evolving sector, characterized by its substantial market size and diverse offerings. Driven by economic factors, consumer preferences, and technological advancements, the market reflects the country's robust demand for affordable transportation solutions. The increasing middle class and urbanization contribute to the need for reliable mobility options, enhancing the market's vibrancy. Affordability plays a crucial role in consumer choices, with many opting for pre-owned vehicles as new car prices rise. The expansion of online channels has further broadened the market's reach, attracting tech-savvy, budget-conscious buyers. As the automotive landscape evolves, the used car market in Thailand is set for continued growth, shaped by dynamic consumer needs and market conditions.

Home Market Analysis Automotive Research Vehicles Research Vehicle Ownership Research Pre-owned Vehicles Research Pre-owned Passenger Cars Research Used Car Market in Thailand Market Size

Market Size of Thailand Used Car Industry

Thailand Used Car Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 5.10 Billion
Market Size (2029) USD 8.30 Billion
CAGR (2024 - 2029) 7.10 %
Market Concentration Low

Major Players

Thailand Used Car Market Major Players

*Disclaimer: Major Players sorted in no particular order

Thailand Used Car Market Analysis

The Thailand Used Car Market size is estimated at USD 5.10 billion in 2024, and is expected to reach USD 8.30 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).

The Thai used car market is a dynamic and rapidly evolving sector influenced by economic conditions, consumer preferences, regulatory policies, and technological advancements.

The Thai used car market is substantial and diverse, reflecting the country's vibrant automotive industry and robust demand for affordable transportation solutions. With a growing middle class and increasing urbanization, there is a significant need for reliable and cost-effective mobility options, driving the demand for used cars nationwide.

Many vehicles cater to a wide range of budgetary constraints and preferences. From compact hatchbacks to spacious SUVs, consumers can access a diverse selection of pre-owned vehicles from domestic and international manufacturers. This diversity provides buyers with ample choices that contribute to the overall vibrancy of the market.

Moreover, affordability is crucial in fueling demand for used cars in Thailand. While new car prices continue to rise, particularly for vehicles with advanced features and technologies, many consumers opt for pre-owned vehicles as a cost-effective alternative.

The convenience offered by online channels has significantly expanded the reach of the used car market, attracting a broader audience of tech-savvy consumers. The lower initial purchase price and reduced depreciation rates make used cars an attractive option for budget-conscious buyers seeking value for money.

As the automotive industry continues to evolve, the used car market in Thailand is poised for further growth and transformation, driven by growing consumer needs and market dynamics.

Thailand Used Car Industry Segmentation

A used car, a pre-owned vehicle, or a second-hand car is a vehicle with one or more retail owners. Used cars are sold through various outlets, including franchise and independent car dealers, rental car companies, buy-here-pay dealerships, leasing offices, auctions, and private party sales.

The Thai used car market is segmented by vehicle, vendor, booking, and fuel types. The market is segmented by vehicle type into hatchbacks, sedans, sports utility vehicles (SUVs), and multi-purpose vehicles (MPVs).

By vendor type, the market is segmented into organized and unorganized. The market is segmented into petrol, diesel, and other fuel types under fuel type. By booking type, the market is segmented into online and offline. Market sizing and forecasting are done for each segment based on value (USD).

By Vehicle Type
Hatchbacks
Sedans
Sports Utility Vehicles (SUV) and Multi-Purpose Vehicles (MPVs)
By Fuel Type
Petrol
Diesel
Other Fuel Types
By Booking Type
Online
Offline
By Vendor Type
Organized
Unorganized
Need A Different Region Or Segment?
Customize Now

Thailand Used Car Market Size Summary

The Thai used car market is a vibrant and rapidly evolving sector, driven by economic conditions, consumer preferences, and technological advancements. It reflects the country's robust automotive industry and the growing demand for affordable transportation solutions. As urbanization and the middle class expand, the need for reliable and cost-effective mobility options is increasing, propelling the demand for used cars. The market offers a diverse range of pre-owned vehicles, catering to various budgetary constraints and preferences, from compact hatchbacks to spacious SUVs. The rising prices of new cars, particularly those with advanced features, have made used cars an attractive alternative for many consumers seeking value for money. The convenience of online platforms has further expanded the market's reach, allowing tech-savvy consumers to easily browse inventories, compare prices, and make purchases from the comfort of their homes.

The organized segment of the Thai used car market is experiencing significant growth, driven by a shift in consumer mindset towards reliability, quality assurance, and aftersales support. Unlike the unorganized sector, organized players offer value-added services such as thorough vehicle inspections and warranty options, instilling confidence in buyers. The rise of online digital platforms has enhanced the visibility and accessibility of these organized players, allowing consumers to make informed decisions. Compliance with regulatory standards and innovative marketing strategies further bolster the organized segment's reputation. The market's competitive nature sees players focusing on expansion, fleet upgrades, and collaborations to strengthen their positions. Initiatives like Carsome's goal to lead in used electric vehicles and partnerships to expand networks highlight the dynamic developments within the market, indicating a positive outlook for the future.

Explore More

Thailand Used Car Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Diverse Selection Among Car Models Is Anticipated To Drive The Market Growth

    2. 1.2 Market Restraints

      1. 1.2.1 Counterfeit and Illegally Imported Vehicles Is Restraining The Market Growth

    3. 1.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 2.1 By Vehicle Type

      1. 2.1.1 Hatchbacks

      2. 2.1.2 Sedans

      3. 2.1.3 Sports Utility Vehicles (SUV) and Multi-Purpose Vehicles (MPVs)

    2. 2.2 By Fuel Type

      1. 2.2.1 Petrol

      2. 2.2.2 Diesel

      3. 2.2.3 Other Fuel Types

    3. 2.3 By Booking Type

      1. 2.3.1 Online

      2. 2.3.2 Offline

    4. 2.4 By Vendor Type

      1. 2.4.1 Organized

      2. 2.4.2 Unorganized

Thailand Used Car Market Size FAQs

The Thailand Used Car Market size is expected to reach USD 5.10 billion in 2024 and grow at a CAGR of 7.10% to reach USD 8.30 billion by 2029.

In 2024, the Thailand Used Car Market size is expected to reach USD 5.10 billion.

Thailand Used Car Market Report Snapshots

Thailand Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)