Thailand's new vehicle market dropped sharply in November, by 15.3% to 64,771 units from 76,426 units a year earlier, according to data released by the Federation of Thai Industries (FTI).
This follows a sharp market reversal in October, when sales dropped by 11% as business activity in the country slowed sharply in the wake of the loss of King BhumibolAdulyadej.
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The economy grew by 3.3% in the first nine months of the year, as the country began to recover from two years of underperformance.Economic growth is expected to slow once again in the fourth quarter, reflecting a slowdown in domestic consumption and investment.
Vehicle sales in the first eleven months of the year fell by 2.3% to 681,930 units, down from 698,163 units in the same period of last year.
Vehicle exports also declined in this period, by 1.4% to 1,102,000 units, while vehicle production was up by 2.7% at 1,808,000 units, according to FTI data.
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