With regards to sales volume, Thailand is the second largest automotive market in Southeast Asia, just behind Indonesia. It has also become a “promised land” for electric cars, particularly those of Chinese origin. The list of the top 10 best-selling electric cars in Thailand in 2023 reflects this trend.
Leading the market is the BYD Atto 3, which sold 19,241 units, accounting for a market share of 25.18%. Coming in second is the Neta V, another Chinese electric car, with accumulated sales of 12,777 units, making up 16.74% of the market.
The BYD Atto 3 is the top-selling electric car in Thailand in 2023.
Next in line is another Chinese electric car, the BYD Dolphin, which sold 9,410 units, securing a 12.33% market share. The “compatriot” Ora Good Cat follows closely with 6,712 units sold.
Rounding up the top 5 is the Tesla Model Y, an American electric car, with sales of 5,881 units. Remarkably, the Model Y has gained traction in the Thai market despite its higher price compared to Chinese offerings.
Among the remaining 5 electric car models in the top 10, 4 are of Chinese origin: the MG4 Electric, MG EP, BYD Seal, and MG ZS EV. These models sold 4,833, 4,475, 1,810, and 1,753 units, respectively. Of note, the BYD Seal was introduced to the Thai market in November 2023 and quickly earned a spot in the top 10. The last car on the list is the Tesla Model 3, which sold 2,324 units.
| No. | Car Model | Total Sales in 2023 (units) | Market Share (%) |
| 1 | BYD Atto 3 | 19,241 | 25.18 |
| 2 | Neta V | 12,777 | 16.74 |
| 3 | BYD Dolphin | 9,410 | 12.33 |
| 4 | Ora Good Cat | 6,712 | 8.8 |
| 5 | Tesla Model Y | 5,881 | 7.71 |
| 6 | MG4 Electric | 4,833 | 6.33 |
| 7 | MG EP | 4,475 | 5.86 |
| 8 | Tesla Model 3 | 2,324 | 3.05 |
| 9 | BYD Seal | 1,810 | 2.37 |
| 10 | MG ZS EV | 1,753 | 2.3 |
Top 10 best-selling electric cars in Thailand in 2023
Currently, there are a total of 52 electric car models being distributed in the Thai market. In 2023 alone, Thai consumers purchased 76,314 electric cars of various types, marking a significant increase compared to previous years.
In 2020, the number of electric cars purchased in Thailand was a mere 1,056. This figure rose to 1,935 in 2021 and surged to 9,729 in 2022. Thus, electric car sales in Thailand experienced a staggering growth of 684.4% compared to the previous year.
Thailand’s government subsidies of up to 150,000 Baht per car (about 4,265 USD) have made electric cars an appealing choice for Thai consumers. In the second quarter of 2023, Thai consumers accounted for half of all electric car sales in Southeast Asia.
In addition to car sales, numerous Chinese companies are planning to establish car assembly plants in Thailand, such as BYD and GAC. The Thai government’s subsidy and tax incentive policies have attracted Chinese car manufacturers to invest in the country. For example, BYD and Great Wall Motor have committed to investing $1.44 billion in new factories in Thailand in the future.
In December 2023, the China Automotive Technology and Research Center (CATARC) announced its plan to establish a new branch in Thailand. Currently, CATARC operates branches in Germany, Switzerland, and Japan.
Thailand currently stands as the largest automobile producer and exporter in Southeast Asia. The country aims to have electric cars account for one-third of its total annual production by 2030. In pursuit of this goal, the Thai government is preparing incentive policies to encourage investment and facilitate the transition to electric car production.
