New vehicle sales in Thailand fell by 20.5% to 70,791 units in October, compared with the already depressed 88,989 units sold in the same month of last year, according to data released by the Federation of Thai Industries.
Cumulative ten-month sales fell by 36% to 718,907 units, from 1,123,268 units in the same period of last year.
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Production fell by 13.7% to 159,660, from 185,117 units previously, bringing the ten-month cumulative total to 1,567,600 units – down 25.9% year-on-year.
The Thai vehicle market has taken a double hit over the last year: from the withdrawal of first-time buyer incentives at the end of 2012; and from a sharp economic slowdown triggered by political unrest, which culminated in a military coup in May.
