Thailand Motorcycles Market is steady recovering. In the first ten months of the year total sales have been 1.46 million (+1.9%). Zontes and Triumph shining, while the Electric segment is not growing yet, although is it still marginal.
Economic Outlook
The Thai economy is anticipated to expand as projected. Key drivers of this growth include tourism and private consumption, further bolstered by government stimulus measures.
Nevertheless, the recovery is uneven across sectors, and the persistence of global trade wars and geopolitical tensions, combined with Thailand’s elevated household debt, poses a significant risk that warrants close monitoring
Motorcycles Industry Trend and Perspectives
The motorcycles market, actually the seventh largest in the world, declined in 2020 before to rapidly recover in the following 3 years. In 2024 the market stepped down, deeply hit by slow economy and price increase, and retreated below expectations at 1.58 million sales (-15.7%).
The start of 2025 was moderately positive with first half sales at 918.071 (+1.6%). While analysts were expecting a more robust recovery, the third quarter was positive by only 4.3% and then in October sales declined 3.2% compared with the correspondent period last year.
Consequently, in the first ten months of the year total sales have been 1.46 million (+1.9%).
While in other countries of the region, the growth of electric segment is sustaining the market growth, this is not the case of Thailand.
Indeed electric vehicles segment lost traction (-13.2%), although it is still very marginal.
The scooter segment (+2.2%) is pushing up the market, while motorcycle segment is losing in double-digit (-14.1%).
Market Leaders and Performance
Looking at top manufacturer’s performance, Honda is still on top with sales in line with the industry (+2.1%) while the arch-rival Yamaha performed similarly (+3.2%) and the third, Piaggio, lost dramatically (-16.3%),
The shining star is Zontes, which jumped in 4th place with +844% of sales having started local operations in the second half 2024.
In 5th place GPX struggles (-28.6%) and was followed by Lambretta (-34.6%), Deco (+14.8%) and Suzuki (+9.6%).
