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June 12, 2003

THAILAND: New vehicle sales up 38% year on year

Thailand's new vehicle sales in May surged 42% year on year to 42,751 units, thanks mainly to an increase in large pickup truck sales, and reflecting sustained consumer confidence, according to a monthly report released on Wednesday by Toyota Motor Thailand, cited by Dow Jones.

By bcusack

Thailand’s new vehicle sales in May surged 42% year on year to 42,751 units, thanks mainly to an increase in large pickup truck sales, and reflecting sustained consumer confidence, according to a monthly report released on Wednesday by Toyota Motor Thailand, cited by Dow Jones.

According to the news agency, Toyota, which compiles sales figures for the Thai motor industry, said May’s strong sales brought the total new vehicle sales this year to 203,024 units, up 38% from the year earlier period.

In May, one-ton pickup truck sales surged 63% to 25,575 units, the Dow Jones report said. The segment was dominated by Isuzu, with a 36.9% market share and Toyota, with a 35% share.

The overall commercial vehicle segment, which includes the one-ton pickup trucks, grew 51% year on year in May to 29,381 units, Dow Jones added.

May passenger car sales surged 25% to 13,370 units, led by Toyota and Honda, with market shares of 43% and 36.6%, respectively, the report said.

The Federation of Thai Industries’ Automobile Industry Club earlier said it projects 2003 domestic vehicle sales to grow around 15%-20% from last year to reach 480,000 units, Dow Jones noted.

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