May 17, 2008
BANGKOK - Domestic auto sales in Thailand rose 9.7 percent year-on-year in April, due to rising demand for more fuel-efficient cars, the industry said Friday.
In April, car and truck sales were at 54,479 units. Sales for the first four months of the year surged 14.5 percent over the same period last year, reaching 215,265 units.
"Sales grew for the fourth consecutive month in April," Toyota Motor Thailand said in a statement.
"Consumers are turning to fuel-saving cars as oil prices keep rising. The recent annual international motor show in Bangkok also helped drive the demand."
Weaker growth is expected for May, as consumers tighten their belts due to rising fuel costs and higher inflation.
The price of New York oil topped 126 dollars per barrel last week before slipping to 124.12 dollar on May 15, according to AFP.
Sales of the three Japanese auto giants Toyota, Isuzu and Honda consistently dominated the market, with their combined sales accounting for about 74.6 percent of the local market in April.
Toyota predicts car sales in Thailand will grow 11 percent to 700,000 units this year, following two years of declines.
