New vehicle sales in Thailand fell further in February, by 10.7% to 57,090 units from 63,948 units a year earlier, according to data released by the Federation of Thai Industries (FTI).
The data backs the increasingly wide-held view that the Thai domestic market is headed for a fourth consecutive year of decline in 2016. The domestic economy remains sluggish with consumers under pressure from high debt, while exports are also struggling to gain traction.
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The FTI said sales so far this year have been negatively affected by changes to domestic excise taxes introduced in January, prompting consumers to bring purchases forward in the final months of last year.
Domestic vehicle sales in the first two months of the year were 11.9% lower at 108,911 units, compared with 123,617 units in the same period of last year.
Manufactures are hoping next week's Bangkok International Motor Show will help stimulate additional buying interest in the market.
Vehicle production fell by 7.1% to 166,412 units last month, resulting in a 9.3% drop cumulative sales to 314,063 units.
Vehicle exports fell by 3.2% to 104,712 units in February and by 1.1% to 198,426 units year-to-date.
