Used car sales to stay stagnant in 2026

PUBLISHED : 9 Jun 2026 at 06:14

Thailand's used car market is expected to remain sluggish in 2026, weighed down by competitive pricing in the new car segment, particularly electric vehicles (EVs).

The ongoing price war among automakers has made consumers hesitant to purchase second-hand cars, as many anticipate further reductions in brand-new vehicle prices, according to organisers of the 2026 Fast Auto Show Thailand, which features both new and used cars.

Pattanadesh Asasappakij, chairman of the Fast Auto Show Thailand, explained that geopolitical tensions, notably the Israel–US war with Iran, have also dampened consumer confidence.

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

He added that the outlook for Thailand's used car market between 2025 and 2026 remains weak, making it difficult to forecast total sales volumes or set clear targets for the upcoming auto show.

The Fast Auto Show Thailand is scheduled to take place from July 1–5 at the Bangkok International Trade & Exhibition Centre (Bitec).

Bankers are also playing a role in slowing demand. Banks and car financing firms have tightened lending criteria to mitigate risks from rising household debt and non-performing loans. Stricter screening of borrowers' repayment ability has made it harder for some consumers to access car loans.

Despite these challenges, certain segments of the used car market continue to show resilience.

Internal combustion vehicles, especially pickups, remain in high demand due to their utility in commercial activities. Hybrid electric vehicles with engine sizes between 1,200-1,500 cc are also popular, as they are easier to maintain and repair.

Vice-chairman Asadavut Asasappakij noted that used cars still appeal to buyers because they are priced 20–25% lower than new models.

"Consumers need cars at affordable prices and acceptable quality to support new families and manage financial liquidity," he said, adding that many second-hand cars on display at the show will have low mileage.

In April, used car sales declined as buyers shifted their attention to new models showcased at the Bangkok International Motor Show.