Thai Vehicle Sales Surge in October: BEVs and HEVs Lead the Charge
Thailand's new vehicle market saw a significant boost in October, with sales jumping by nearly 25% to reach 47,032 units. This growth marks the seventh consecutive month of recovery after two years of sharp declines due to tightened lending rules and high consumer debt.The surge is largely attributed to an increase in demand for electric vehicles (EVs), particularly battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs). BEV sales soared by 128% year-on-year, hitting 8,479 units, while HEVs saw a 98% rise to reach 12,354 units. This growth comes as government incentives for EVs are set to expire at the end of the year.Despite the overall market rebound, sales of traditional internal combustion engine (ICE) vehicles continued their downward trend. ICE passenger car deliveries ...