Thailand’s new vehicle market continued its steep decline in April with sales falling by over 26% to 54,085 units from the already depressed 73,242 units sold in the same month of last year, according to data collected by the Federation of Thai Industries (FTI).
Cumulative four month sales fell by more than 15% to 251,845 vehicles as Thai consumers struggled with heavy debts and depressed commodity prices continued to affect rural incomes.
Go deeper with GlobalData
Exports of built up vehicles increased by close to 18% to 82,130 units with strong growth in passenger car shipments to markets in Europe and North America more than offsetting sluggish overseas demand for pickup trucks.
Cumulative four month exports increased by 13.6% to 410,362 units – worth around THB186bn (US$5.5bn).
Vehicle production fell by 2.2% year on year to 123,968 units in April but was 0.7% higher at 648,508 units in the first four months of the year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
