KResearch views that the overall auto sales throughout 2019 will contract 2.5 percent from 2018, or totaling 1,015,000 units. The Bank of Thailand's control measure for auto loan approval, launched in the middle of this year, has become a key factor pressuring auto loan sales.
In 2020, KResearch thinks that the market will continue to be under pressure from various factors, especially the strict loan approval control measure that will continue from 2019. Hence, the total auto sales in Thailand in 2020 may see a flat growth or may even contract by 5 percent, translating into sales volume of between 960,000 and 1,015,000 units.
At any rate, amid the drop in sales of various car models, KResearch expects the eco car segment to expand, driven by the launch of many interesting car models and the automakers' strategies to put small engines in the B-Segment bodies. Therefore, the eco car market is likely to rebound in 2020 with sales volume between 200,000 and 210,000 units or up between 3 and 8 percent. In 2019, a total of 195,000 eco cars are expected to be sold, marking a contraction of 6.8 percent.
Meanwhile, the electric vehicles (EV) segment will continue expanding amid positive feedback from customers to a series of newly-introduced EV models. In 2020, the total EV sales may reach between 58,500 and 65,000 units or up 96 to 118 percent as compared to a total of 29,800 units expected to be sold in 2019 or an increase of 50 percent.