Auto sales in Thailand to fall in 2020

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BANGKOK, Dec 5 — Several negative factors, including tightening of lending control measures by the Bank of Thailand, are expected to hurt automobile industry in the kingdom in 2020, according to a forecast by Kasikorn Research Center (KSC).

The KSC has estimated that auto sales in 2019 would shrink 2.5 per cent from the previous year, equivalent to 1.015 million cars, due to negative factors depressing the market, including credit measures by the central bank mid this year.
These factors would continue their effect because auto sales in Thailand could either steady or decline in 2020 by as much as 5 per cent, equivalent to around 960,000-1,015,000 units, the KSC said.

While sales of auto categories are expected to decline, the KSC has estimated that the B-segment of the automobile would assist sales of new eco- and electric cars in this country.