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🇹🇭 Thailand /Economy & Trade

Used car sales to stay stagnant in 2026

From Bangkok Post · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Thailand's used car market is expected to remain sluggish in 2026 due to competitive pricing from new cars, especially EVs.
  • Geopolitical tensions and tightened bank lending criteria are further dampening consumer confidence and making car loans harder to access.
  • Despite challenges, internal combustion pickups and popular hybrid models remain in demand, with used cars offering a 20-25% price advantage.

Thailand's used car market faces a bleak outlook for 2026, with organizers of the Fast Auto Show Thailand anticipating continued sluggishness. The primary driver of this downturn is the intense price competition in the new car segment, particularly from electric vehicles (EVs). This "price war" among automakers makes consumers hesitant to buy second-hand vehicles, as they anticipate further price drops on brand-new models.

Adding to consumer caution are geopolitical tensions, such as the conflict involving Israel and Iran. Pattanadesh Asasappakij, chairman of the Fast Auto Show Thailand, noted that the economic impact of these global conflicts is causing people to delay car purchases and adopt a more conservative spending approach. This uncertainty makes it difficult to forecast total sales volumes or set clear targets for the upcoming auto show, scheduled for July 1–5 at the Bangkok International Trade & Exhibition Centre.

The economic impact of these conflicts is making people delay car purchases and spend more cautiously.

— Pattanadesh AsasappakijChairman of the Fast Auto Show Thailand, explaining the impact of geopolitical tensions on consumer behavior.

Financial institutions are also contributing to the slowdown. Banks and car financing firms have tightened their lending criteria. This move aims to mitigate risks associated with rising household debt and non-performing loans. Stricter screening of borrowers' ability to repay has made it more challenging for some consumers to secure car loans, further suppressing demand in the used car market.

However, certain segments of the used car market are demonstrating resilience. Internal combustion engine vehicles, especially pickup trucks, continue to be highly sought after for their commercial utility. Additionally, hybrid electric vehicles with engine sizes between 1,200-1,500 cc are popular due to their perceived ease of maintenance and repair. Vice-chairman Asadavut Asasappakij highlighted that used cars remain attractive because they are priced 20–25% lower than new models, meeting the need for affordable transportation for families and financial liquidity.

Consumers need cars at affordable prices and acceptable quality to support new families and manage financial liquidity.

— Asadavut AsasappakijVice-chairman of the Fast Auto Show Thailand, discussing the appeal of used cars.
DistantNews Editorial

Originally published by Bangkok Post. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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