Thailand is currently the second largest automotive market in Southeast Asia in terms of sales volume, second only to Indonesia. Thailand is also the “promised land” for electric cars, especially Chinese cars. The list of the top 10 best-selling electric cars in Thailand in 2023 has shown that.
Specifically, the best-selling electric car in this Southeast Asian market last year was the BYD Atto 3, with sales of 19,241 units, equivalent to a market share of 25.18%. Next is the Neta V, another Chinese electric car, with accumulated sales of 12,777 units, accounting for a market share of 16.74%.
The BYD Atto 3 is the best-selling electric car in Thailand in 2023
The third position continues to belong to a Chinese electric car, the BYD Dolphin, with sales of 9,410 units and a market share of 12.33%. Following the BYD Dolphin is the “compatriot” Ora Good Cat, with 6,712 units sold.
The “last place” in the top 5 is the Tesla Model Y – an electric car from the United States – with sales of 5,881 units. It can be seen that the Tesla Model Y is still quite successful in the Thai market because this model has a higher price than Chinese cars.
Among the remaining 5 electric car models in the top 10, there are 4 Chinese cars, including the MG4 Electric, MG EP, BYD Seal, and MG ZS EV. The sales of these 4 models are 4,833 units, 4,475 units, 1,810 units, and 1,753 units, respectively. Among them, the BYD Seal is a new car introduced to the Thai market in November 2023 but immediately entered the top 10. The remaining car in the top 10 is the Tesla Model 3 with sales of 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
As of now, a total of 52 electric car models are being distributed in the Thai market. In 2023, Thai people bought 76,314 electric cars of various types, a significant increase compared to previous years.
In 2020, Thai people only bought 1,056 electric cars. This number increased to 1,935 cars in 2021 and 9,729 cars in 2022. Therefore, compared to 2022, electric car sales in Thailand have grown by 684.4%.
The subsidy policy of up to 150,000 Baht/car (about 4,265 USD) by the Thai government has helped electric cars become an attractive choice for the people of this country. In the second quarter of 2023, Thai people bought half of the electric cars sold in the entire Southeast Asia region.
Not only selling cars, many Chinese companies are also planning to build car assembly plants in Thailand, such as BYD and GAC. The subsidy and tax incentive policies of the Thai government have attracted Chinese car manufacturers to invest in this country. For example, BYD and Great Wall Motor have committed to invest $1.44 billion in new factories in Thailand in the future.
In December 2023, the China Automotive Technology and Research Center (CATARC) announced that it will establish a new branch in Thailand. Currently, CATARC has 3 branches in Germany, Switzerland, and Japan.
Thailand is currently the largest automobile producer and exporter in Southeast Asia. The country’s goal is to make electric cars account for 1/3 of total annual production by 2030. To achieve this goal, the Thai government is preparing incentive policies to encourage investment and transition to electric car production.
