Thailand’s new vehicle market surged 21.9% to 77,592 units n September compared with 63,641 units a year earlier, according to data released by the Federation of Thai Industries.
The vehicle market continues to recover from four straight years of decline, which culminated in a 4% drop to 768,788 units last year from peak levels of 1.43 million units in 2012.
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Toyota’s sales fell by 6.7% to 20,621 units last month, while its key competitors strengthened including Isuzu which reported a 61% sales jump to 16,784units; Honda 10,630 units (+20.5%); Mitsubishi 5,567 units (+25.4%); Nissan 5,183 units (+93.9%); and Ford 4,939 (+33.1%).
Sales of passenger cars increased by almost 15% to 29,474 units last month, while SUV sales jumped by over 30% to 4,579 units, pickup trucks 37,967 units (+24%) and other commercial vehicles 48,118 units (+27%).
Total vehicle sales in the first nine months of the year were 11.6% higher at 620,870 units compared with 556,525 units in the same period of last year, with growth underpinned by low interest rates and the launch of new passenger vehicle models.
The economy has also strengthened this year, with GDP expanding by 3.7% year-on-year in the second quarter after growth of 3.3% in the first quarter.
