New vehicle sales in Thailand fell by 0.4% to 60,635 units in July from 60,863 units a year earlier, according to data released by the Federation of Thai Industries (FTI).
The small decline came after three months of strong gains and the industry remains optimistic that the market will continue to recover from its three-year slump.
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Sales in the first seven months of the year were still 0.2% lower at 429,265 units, from 429,972 a year earlier, with a weak first quarter of the year offset by a strong rebound in the second quarter.
Domestic economic growth strengthened in the second quarter, helped by rising rural incomes and higher consumer spending.
Also, early participants in the first-time buyer scheme, launched in 2011, will soon be able to claim tax rebates and sell on their vehicles which is expected to help lift vehicle sales over the next two years.
The FTI also reported a 7.2% drop in vehicle production in July to 153,950 units, although year-to-date volumes were 4.2% higher at 1.15 million units.
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By GlobalDataExports were down by 3.1% at 99,155 units in July, but were up by 2.3% at 693,978 units year-to-date.
