March 18, 2009
BANGKOK (AFP) - Domestic auto sales in Thailand fell 30.7 percent in February, the ninth month of decline as the sector suffered from the economic downturn and flagging consumer confidence, the industry said Tuesday.
Total car and truck sales reached 34,361 units in February, 30.7 percent lower than the same month last year and the largest drop since local vehicle sales started falling in June last year.
"(The drop was) partly due to the economic slowdown, and consumers delayed their decisions (on whether to purchase)," Toyota Motor Thailand said in a press release.
Passenger car sales were down 16.6 percent year-on-year, while commercial vehicle sales nosedived 38.1 percent and pick-up truck sales fell 37.3 percent, said Toyota, which compiles figures for the whole industry.
But the group said it hoped local sales would improve in March, spurred by the introduction of new models on the local market and the Bangkok International Motor Show which begins later this month.
The Thai government also this month rejected an industry plea for an excise tax cut to boost sales on the ground -- a decision many potential car-buyers were waiting for before making new purchases, Toyota said.
Thailand has positioned itself as a key regional production base for foreign automakers, but the industry has been hard hit by global financial problems.
The Federation of Thai Industries has forecast that auto exports will fall nearly 25 percent this year from 2008, while Toyota has previously said that domestic sales are expected to slip 15 percent.
Mitsubishi Motors and General Motors have both recently announced staff and production cuts because of the global slowdown.
