December 17, 2008
BANGKOK (AFP) - Thailand car sales plunged 20.2 percent in November, the sixth consecutive month of decline and the steepest of the year amid political turmoil and global economic gloom, the industry said Wednesday.
Domestic vehicle sales were at 46,068 units, with commercial vehicles falling 36.7 percent to 27,892 units but passenger cars jumping 33.2 percent to 18,176 units due to a cut in the tax on cars powered by ethanol.
"It's the steepest drop of this year because of the impact from the world economic situation and the instability of the government and intense political conflict," said Toyota Motors Thailand, the industry statistics compiler.
Toyota said it expected sales in December to be stable because automakers had offered incentives and that sales of 14,690 units had been booked during a motor expo last month.
Three Japanese automakers -- Toyota, Isuzu and Honda -- accounted for 82.2 percent of Thailand's total car market in November.
Toyota has revised down its sales target for this year from 700,000 to 650,000 units, which is still 3.0 percent higher than last year.
General Motors in Thailand said last month it would halt assembly for two months at its plant in the eastern province of Rayong and shed 250 staff due to slow demand as its struggling parent company pleaded for a US bailout.
