New vehicle sales in Thailand rose by 4.6% to 76,426 units in November from 73,068 units a year earlier, according to data released by the Federation of Thai Industries (FTI).
This is the first year on year increase in well over two years and mostly reflects strong demand for pick-up based vehicles ahead of expected price increases in 2016 resulting from changes to vehicle excise taxes at the end of 2015.
Sales of pickup-based vehicles increased by 14.5% to 40,810 units in November from 35,644 units in the same month of last year. In the first 11 months of the year, Thai vehicle sales declined by 11.9% to 698,163 units, from 792,075 units in the same period of last year and from 1,216,391 units in the first 11 months of 2013.
Vehicle production rose by 3.25% to 163,170 units in November and by 2.0% to 1.76m units year-to-date. Exports fell by 4.6% to 101,650 units in November, but were up by 7.6% at 1.12m units year-to-date.