Thailand’s vehicle sales fells by 37.8% year-on-year in March according to data issued by Toyota’s local subsidiary.
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Toyota Motor Thailand said domestic vehicle sales reached 41,328 units in March.
Sales of passenger cars fell by 23.4% in March, with commercial vehicles faring relatively badly.
“We’ve seen sales drop for 10 months running because the market severely shrank, especially the commercial vehicle market which plunged 44.5 percent — an 11-month low,” Toyota said in a statement.
“Consumer confidence reached a seven-year low and meant consumers were more cautious in their spending,” it said.
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By GlobalDataThe statement said a further contraction was expected in April with consumer sentiment knocked by political unrest and continued economic decline.
