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.
Go deeper with GlobalData
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.
See Also:
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
