Thai car sales fall 15.4% in October

[Mid]

Thai car sales fall 15.4% in October
15 November 2008



BANGKOK: Thailand's car sales fell 15.4 per cent in October in the steepest loss of the year, apparently triggered by the global financial crisis, car manufacturer Toyota said Saturday.

In a statement Toyota, which as the largest carmaker in Thailand compiles industry-wide monthly data, blamed eroding consumer confidence for five months of losses.

"Sales have plunged because of the financial crisis in the United States and uncertainties over Thai politics, coupled with the fact that the consumer confidence index hit a new low," Toyota Motor Thailand said.

Political turmoil has engulfed the kingdom since anti-government protesters took to the streets in May and have occupied the prime minister's offices since August, calling for the government to step down over corruption claims.

Total car sales in October reached 48,942 units with passenger car sales rising 20.4 per cent.

But commercial vehicle sales, which make up a far greater share of the market, fell 28.3 per cent and dragged overall figures down.

Three Japanese auto makers, Toyota, Isuzu and Honda account for 79.8 per cent of Thailand's total car market.

Toyota predicted car sales in November would continue to shrink and Toyota has revised down its sales target for this year from 700,000 to 650,000 units, still 3.0 per cent higher than last year.

- AFP/yt

channelnewsasia.com

[Norton]

Will be buying a new one in Jan. Wonder if there will be big discounts?
Knowing Thailand, price will prolly go up to make up for loss in volume.