Thailand Used Car Market Overview, 2029

A growing customer base and noteworthy improvements in used car purchasing patterns due to health concerns following recent events like the pandemic are predicted to position Thailand as one of the used car markets with the highest potential throughout the projection period. During the projected period, the market will continue to rise due to the growing number of new entrants and the strong presence of OEM and B2C dealerships, particularly those belonging to Toyota and Honda. Demand in the market is also anticipated to be driven by growing internet penetration and online platforms for used vehicles that make it easier for buyers to buy and trade used cars. The Used Car Market in Thailand is mainly divided into Bangkok, Northeast, South, East, and West regions. Bangkok's increased purchasing power has led to a bigger concentration of secondhand cars than in other places. The Northeast region has the second-highest number of used car sales nationwide as a result of considerable economic growth brought on by increased cross-border trade and the existence of special economic zones. A unicorn in the Indian used automobile market stated that it is expanding its footprint in Thailand as part of its international development strategy in Southeast Asia. The company's goal is to control the used car market in Thailand, which is expected to become more and more popular in the next years as demand for personal safety and the economics of buying used cars both raise. Due to import fees and taxes, new cars are relatively expensive in Thailand. As a more cost-effective option, used cars are chosen by many customers. The price differential between new and used cars is one of the main factors propelling the used automobile market's expansion.

According to the research report "Thailand Used Car Market Overview, 2029," published by Bonafide Research, the Thailand Used Car Market is expected to grow with more than 7% from 2024 to 2029.. Demand in the market is also anticipated to be driven by growing internet penetration and online platforms for used vehicles that make it easier for buyers to buy and trade used cars. Due to their higher average income levels than other provinces, Bangkok, Phuket, Chiang Mai, and other cities are expected to be popular destinations for used automobile dealers. Because of the significant economic growth brought about by increased cross-border trade and the existence of special economic zones, the Northeastern region has the second-highest volume of used automobile sales. Thailand is one of the developing used automobile marketplaces in the southeastern Asia-Pacific area; yet, given their widespread presence, organized independent dealers, or "Car Tents," are expected to control the market. In addition, many dealers are growing their market share by listing their inventory on their own websites or other online platforms. In light of this, a number of industry participants are concentrating on growing their market share. The organized sector's participants strongly favor newer models and well-known brands with high resale value. As a result, providing consumers with an extensive selection of car options. For instance, Thailand's OEMs, which include Honda, Nissan, Mitsubishi, and Toyota, as well as luxury automakers, like Mercedes Benz, among others, have robust proprietary used car networks that provide significant competition to the disorganized local companies that are sporadically present throughout the nation.

Based on Vehicle Type market is divided into Conventional, Hybrid, and Electric. Due to reduced manufacturing and depreciation expenses, conventional gasoline cars are generally less expensive in the used market than their hybrid or electric counterparts. This increases their accessibility for a wider range of consumers. Thailand's infrastructure is designed to accommodate gasoline-powered cars, as seen by the abundance of gas stations and auto repair shops. Many purchasers who value convenience find this simplicity of ownership appealing. Thailand's infrastructure is designed to accommodate gasoline-powered cars, as seen by the abundance of gas stations and auto repair shops. Many purchasers who value convenience find this simplicity of ownership appealing.

Based on Body Type market is divided into Hatchbacks, Sedan, SUV & MUV, Others. SUV and MUV are the popular choice. These cars are perfect for families, outdoor enthusiasts, and people who regularly transport big objects because they provide plenty of room for both passengers and goods. Numerous SUVs and MPVs feature seats that fold or remove, making it possible to arrange them in a variety of ways to meet a range of requirements, from weekend travel with bags to family outings. SUVs and MPVs handle bad roads, floods, and occasional off-road excursions better than sedans. This is especially tempting in some parts of Thailand with less established infrastructure.

Based on Fuel Type market is divided into Petrol, Diesel, Others. With its extensive network of gas stations, Thailand ensures convenience of refueling and lessens range anxiety for cars using gasoline. Petrol car maintenance services and spare parts are widely accessible and reasonably priced, which increases the convenience and economics of ownership. In Thailand, cars that run on gasoline are typically thought of as being affordable, practical, and easy to maintain. In the used car market, petrol cars often depreciate more slowly than alternative fuel vehicles such as electric and hybrid cars.



Based on Size market is divided into Mid-Size, Compact, SUVs. SUVs' roomy cabins and adaptable seating arrangements make them the perfect vehicle for families with young children. They make travel, excursions, and daily activities easier by providing comfortable seating for both passengers and goods. SUVs are designed with outdoor enthusiasts in mind. Their increased ground clearance makes it possible for them to engage in common activities in Thailand, like crossing flooded roads, rugged terrain, and off-paved trails. SUVs' big cargo areas are perfect for carrying bulky stuff like sporting goods, furniture, or luggage on lengthy excursions. This adaptability greatly increases usability for a range of applications.

Based on Vendor Type market is divided into Organized, Unorganized. Reducing ambiguity and minimizing risks for consumers, reputable dealerships and platforms provide certified pre-owned programs with inspections, background checks, and warranty options. Detailed car ads with pictures, specs, and history reports are available on organized an platform, which promotes educated purchasing and lowers the possibility of fraud. Committed sales teams facilitate a more seamless and polished purchasing experience by offering advice, responding to inquiries, and helping with paperwork.

Based on By Distribution Channel market is divided into Offline, Online. Buying and selling old automobiles through offline transactions through individual sellers or small dealerships may still be the favored approach in remote areas with little internet connection or computer savvy. Offline car transactions may benefit from the conventional trust networks and recommendations found in local communities. Seeking the greatest bargains, buyers may be prepared to bargain offline with individual vendors in an effort to avoid platform fees or what they perceive to be price inflation. Seeking the greatest bargains, buyers may be prepared to bargain offline with individual vendors in an effort to avoid platform fees or what they perceive to be price inflation.

Considered in this report:
• Geography: Thailand
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• Thailand Used Car market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Vehicle Type:
• Conventional
• Hybrid
• Electric

By Body Type:
• Hatchbacks
• Sedan
• SUV & MUV
• Others

By Fuel Type:
• Petrol
• Diesel
• Others

By Size:
• Mid-Size
• Compact
• SUVs

By Vendor Type:
• Organised
• Unorganised

By Distribution Channel:
• Offline
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Used Car industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.