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Toyota sees Thai auto sales growth slowing--paper

BANGKOK, Nov 29 (Reuters) - Growth in Thai automobile sales will shift down a gear in 2003, compared with an estimated rise of 40 percent this year, a report said on Friday.

Toyota Motor Thailand Co president Ryoichi Sasaki was quoted by the English-language Bangkok Post saying vehicle sales in Thailand this year would hit 400,000 to 410,000 units, due to a robust economic growth, low interest rates and car makers' aggressive marketing campaigns.

"Sales growth next year will range between 10 and 20 percent," Sasaki was quoted as saying. He did not give any reason for the lower sales growth.

Thai auto sales peaked in 1996 when almost 600,000 units were sold, then plunged by 70 percent in 1997 when the economic crisis hit. Since then the market has recovered gradually with a robust growth this year.

In the first 10 months of 2002, Thai domestic vehicle sales were up 39.6 percent on a year earlier at 325,818 units, according to data from Toyota, which compiles figures for the car industry. ((Nopporn Wong-Anan, Bangkok Newsroom 662 637 5500 ext 413 e-mail:[email protected]))