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New vehicle sales in Thailand increased by 38% year on year in January to 68,398 units – the 17th consecutive month of growth, according to data compiled by Toyota Motor Thailand. The market continues rebound after a long period of weakness, helped by still relatively low interest rates.

Sales of passenger cars jumped by 49.6% to 31,008 units, while commercial vehicles sales increased by 29.7% to 37,390 units. This includes 31,638 pickup trucks – up 28.4% year-on-year. The market is also still enjoyed strong volumes from orders placed during the Thai International Motor Expo in December.

Thai vehicle production increased by close to 41% year-on-year to 146,234 units in January, according to data released by the Federation of Thai Industries. Exports increased by 16.3% to 68,000 units, boosted by rising exports of eco-cars and economic recovery in key overseas markets.

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By GlobalData