Thailand’s new vehicle market rebounded by almost 54% to 73,936 units in January 2026 from weak year-earlier sales of 48,092 units, according to the latest data released by the Federation of Thai Industries (FTI). January was the tenth consecutive month of growth for the country’s vehicle market, following two years of sharp declines as the country’s highly indebted consumers and small businesses struggled to access financing after banks tightened lending rules. Economic growth in the country accelerated ...

Vehicle Market Performance - New vehicle sales in the Philippines fell by almost 9% to 37,352 units in November 2025 from 40,898 units a year earlier, indicating a slowdown after three years of growth from pandemic lows [1][6] - In the first eleven months of 2025, the vehicle market declined by 1% to 420,776 units compared to 425,208 units in the same period last year, driven by a 7% rise in commercial vehicle sales to 335,859 units, while passenger vehicle sales dropped by 23% to 84,917 units [3] Economic Context - Economic growth in the Philippines slowed to 4.4% year-on-year in the third quarter of 2025, down from 5.5% in the second quarter, marking the slowest growth since 2021 [2] - Household spending growth also decelerated to 4.1% from 5.3%, despite a 200 basis points cut in the central bank's benchmark interest rate to 4.50% [2] Manufacturer Performance - Toyota reported a 4% sales increase to 205,552 units in the eleven-month period, benefiting from strong demand for its Hilux and Avanza/Veloz models; Mitsubishi Motors followed with 79,252 units (-3%); Ford saw a decline to 20,007 units (-22%); Suzuki increased sales to 19,982 units (+8%); and Nissan reported 19,225 units (-22%) [4] Electrified Vehicle Sales - Year-to-date sales of electrified vehicles reached 28,102 units, comprising 22,027 hybrid electric vehicles (HEVs), 4,261 battery electric vehicles (BEVs), and 1,814 plug-in hybrids (PHEVs) [5]