New vehicle sales in Thailand soared by 52% to a new record high of 555,515 units in the first nine months of 2010, according to Mazda Sales (Thailand).
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The distributor’s managing director, Choichi Yuki, said his company was also experiencing “record levels of demand domestically and abroad” thanks, in large part, to the launch late last year of the locally-made Mazda 2.
The company reported a 242% rise in vehicle sales in Thailand in the January-September period to 25,763 units, with the 2 accounting for 17,056 units. The brand’s market share almost has almost doubled this year to 4.6%, from 2.4% in 2009, and is approaching the company’s medium-term target of 5%.
Toyota continued to dominate the Thai vehicle market with sales rising by 47% to 225,557 units in the period; followed by Isuzu with 105,659 sales (+41%); Honda 82,063 (+30%); Nissan 38,043 (+92%); Mitsubishi 26,614 (+118%); Mazda 25,763 (+242%); Chevrolet 13,706 (+31%); and Ford 7,084 units (+35%).
Yuki expects 2010 to be a “golden year” for the Thai vehicle market, with full year sales expected to come in at between 750,000-800,000 units.
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By GlobalDataJD Power was less upbeat about the market’s prospects in the short term, however, with full-year sales forecast at just 702,000 units – up 32% on last year. It expects the recent strong moment to slow in the final months of the year, with positive impact of the new model launches waning, interest rates rising, and the economy overall losing some steam.
