Thailand's new vehicle market dropped sharply in October, by 10.7% to 60,634 units from 67,911 units a year earlier, according to data released by The Federation Of Thai Industries.

Vehicle sales had been recovering reasonably well after a weak first quarter of the year. But the loss of King Bhumibol Adulyadejin in October has had a significant effect on sentiment in the country and this has been compounded by an increasingly uncertain global political and economic outlook.

The country's economy continued to grow strongly in the third quarter, however, with annual GDP growth at 3.2% compared with 3.5% in the second quarter.

Cumulative ten-month sales fell by 0.7% to 617,159 units, from 621,737 units in the same period of last year.

Vehicle exports also dropped sharply last month, by 7.2% to 103,192 units,while production was 2.6% lower at 161,105 units.