Brisk vehicle sales anticipated

WEDNESDAY, MAY 16, 2012
Brisk vehicle sales anticipated

Buoyant economic growth is expected to spur demand for vehicles in Thailand in May, following the 20 per cent increase in the first four months.

 


 Vudhigorn Suriyachantananont, Toyota Motor Thailand's vice president, foresees a continued growth in demand in May as the automotive industry shows fast recovery from last year's floods. As all auto-makers have resumed normal capacity, this should allow them to deliver vehicles booked during the Bangkok International Motor Show.
 "This is in line with the Bank of Thailand's economic growth revision (from 5.7 per cent to 6 per cent). Despite signs of higher inflation, several positive factors should further propel demand," he said.
 According to data compiled by the company, a number of 367,109 vehicles were sold during January and April, with sharp growth in commercial vehicles. While passenger car sale rose only 1.7 per cent, commercial vehicles that contain 1-tonne pickups showed 33.9 per cent growth rate. Explaining this is the fact that Honda Automobile (Thailand)'s plant in Ayutthaya was just reopened late March. Moreover, economic recovery spurred spending.
 In April alone, 87,788 vehicles were sold, up 30.5 per cent on year, thanks to new models launched in the motor show in March. Of total, passenger cars accounted for 38,211 units, up 23.4 per cent from the same period last year. One-tonne pickup sale volume rose 34.8 per cent to 42,163 units.
 In the month, Honda, the biggest manufacturer of passenger cars, sold 12,273 units, or 32.1 per cent of market share. Toyota, the No.1 seller, sold 13,939 units.