New vehicle sales in Thailand rebounded by 10.7% to 57,254 units in January, from 51,715 units a year earlier, according to data released by the Federation of Thai Industries.
The country’s vehicle market looks to be recovering well from a very weak fourth-quarter of 2016, when sales fell by almost 14% after consumer sentiment was shaken by the loss of King Bhumibol Adulyadej last October.
Go deeper with GlobalData
Private consumption growth in the country declined to 2.5% year-on- year in the fourth quarter, from 3.0% in the previous quarter.
The automotive industry’s celebrations were put on ice, however, after the FTI report also revealed exports fell by 14.5% year-on- year to 80,097 units last month, while the export value dropped by 18.1% to THB41.4bn (US$1.19bn).
The decline reflects a particularly sharp slowdown in overseas shipments of pickup trucks and derivatives, with demand in the Middle-east and Africa particularly weak.
Vehicle production last month increased by 3.1% to 152,261 units, driven by strong domestic demand.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
