New vehicle sales in Thailand fell by 10.5% to 61,863 units in September, from already depressed 68,843 sales in the same month of last year, according to data released by The Federation Of Thai Industries.
This latest data brings the cumulative nine-month market total to 553,826 units, 14.6% lower than the 648,116 sales in the same period of last year.
The economy continues to struggle with weak domestic consumption and falling exports, prompting the Bank of Thailand to cut its full-year GDP growth forecast to 2.7% from 3.0% last month.
Vehicle exports rose by over 28% year-on-year to 124,952 units in September, driven by strong demand for newly-launched pickup truck models. Over the nine-month period exports increased by almost 8% to 905,366 units.
Vehicle production rose by 4.4% year-on-year to 171,496 units in September and by 1.6% to 1.43 million units year-to-date.