Auto sector tipped to return to growth
THE DOMESTIC vehicle market next year is expected to record sales growth of between 2 per cent and 6 per cent – or 770,000 to 800,000 units – due to the forecast economic recovery, according to Kasikorn Research Centre.
Vehicles sales in Thailand this year are expected to drop 5.8 per cent year on year to 753,000 units, due to unfavourable economic factors – from falling farm product prices to ballooning household debt, according to the research centre.
Passenger car sales next year are expected to stand between 331,000 and 344,000, higher than the forecast sales of 325,000 this year – the latter representing a fall of 9 per cent year on year.
The market for vehicles for commercial use is forecast to expand next year between 3 per cent and 7 per cent, or 439,000 to 456,000 units, versus forecast sales of 428,000 this year – the latter representing a drop of 4 per cent year on year.
By region, the eastern region is expected to see the highest growth of total vehicle sales, driven by rising investment by the state and private sectors.
