New vehicle sales in Thailand jumped by 41.5% to 156,953 units in March, from 110,928 units a year earlier, according to data released by the Federation of Thai Industries.
The market continues to benefit from high levels of order fulfillment from last year’s first-time buyer incentives as well as buoyant domestic sentiment due to the recent increases in minimum wages and salaries increases awarded to civil servants.
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First-quarter sales rose by over 48% to 412,680 units, from 277,635 units a year earlier. Vehicle production increased by 44.5% to 721,460 units in the first quarter, while exports increased by 28.6% to 283,966 units – worth some THB 125.6bn (US$4.3bn).
