Thai auto sales last month dropped 25%

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BANGKOK, Aug 15 – Thailand’s auto sales volume last month dropped more than 25 per cent following the end of the government’s ‘first-car’ buyer scheme and stricter loan measures by financial institutions. 

Surapong Paisitpattanapong, spokesman of the automotive industry group of the Federation of Thai Industries (FTI), said the domestic sales volume stood at 98,000 units, the first time in the past 15 months that the volume was below 100,000 units. It was lower than the same period last year by 25 per cent, and down from June this year by 7.3 per cent.

The number of automobiles produced last month was about 201,000 units, a 6.45-per cent decrease year-on-year, and a 7.2-per cent decrease from June this year.

The total car sales volume in the first seven months of this year increased 13.6 per cent year-on-year, with the value of automotive exports, including engines and spare parts, dropping 11 per cent in July, but during the first seven months exports rose 6 per cent.

Mr Surapong said the FTI maintained its projection auto production this year at 2.55 million units as earlier targetted.