April 18, 2008
Bangkok - Domestic auto sales rose 18 percent year-on-year in March despite record high fuel prices as a number of new models were introduced into the market.
In March, car and trucks sales topped 66,107 units -- up from 56,021 in March 2007 -- and sales for the first quarter of this year jumped 16.3 percent from the same period last year to 160,786 units.
"Sales grew for the third consecutive month in March," Toyota Motor Thailand said in a statement.
"The response to new modified car models means momentum will likely continue into the second quarter, despite the oil price climb."
April car sales are expected to rise further due to advance sale of 18,338 units during the Bangkok International Motor Show last month.
Soaring sales are also driven by consumer confidence after the government’s stimulus package.
Sales of the three Japanese auto giants Toyota, Isuzu and Honda remained dominant, with their combined sales accounting for about 78 percent of the local market in March, according to AFP.
Toyota predicts car sales in Thailand will grow 11 percent to 700,000 units this year, following two years of decline.
The price of New York oil hit a record high of 115.54 dollars per barrel on Thursday.
