Thailand Autos Report Q2 2014

Thailand Autos Report Q2 2014

Published: March 2014
Publisher: Business Monitor International (BMI)
Product ref: 198031
Pages: 80
Format: PDF
Delivery: Immediate download

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According to latest figures from Toyota Motor Thailand, auto sales in Thailand tumbled 45.6% year-onyear (y-o-y) in January 2014, to 68,508 units. The outbreak of political unrest in recent months has dashed hopes of a market recovery in 2014. To put the negative impact of the protests into perspective, the last time monthly sales were lower in absolute numbers was back in December 2011, during a year when the country was wrecked by devastating floods.

While we had forecasted a mild recovery for 2014 back in November 2013, as we believed the market had largely digested the after-effects of the first car scheme (see 'Mild Recovery In 2014 As Market Bottoms Out', November 11 2013), we are now forced to reverse our stance due to the recent dislocation in the country's political landscape. The sharp deterioration in the country's business and macro-economic environment will have negative knock on effects on the auto sector, and we forecast a 12.2% contraction in vehicle sales in 2014, to 1.17mn units.

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By market: Thailand (in Asia)

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