July Marks 26th Straight Month of Thai Sales Slide
After seven months, the Thai market was down 15.8% at 429,972 deliveries. Car sales were down 20.8% and the CV segment was off 12.2%.
Thailand’s new-vehicle sales continued their downhill spiral for a 26th straight month in July, but the flow of red ink showed signs of easing as deliveries fell just 12.5% year-on-year to 60,863 units.
It was a slight improvement from June, when sales fell 18.3% to 60,322 units.
Toyota Thailand, which collates data for the industry, says July saw car sales drop 25.1% to 22,229 units. The commercial-vehicle segment showed signs of life, with deliveries down just 3.1% to 38,634 units, including the 1-ton pickup segment, off 3.9% at 31,604.
Releasing the result, Vudhigorn Suriyachantananont, assistant senior managing director-Toyota Thailand, says the market is being affected by high household debt and low agricultural prices making consumers cautious with their spending.
After seven months, the Thai market was down 15.8% at 429,972 vehicles. Car deliveries were down 20.8% at 169,086 units and the CV segment was off 12.2% at 260,886.
Toyota led the July result with sales off 10.0% at 22,544 units, ahead of Isuzu, down 12.2% at 10,999 strictly on CV deliveries and Honda, down 0.1% at 8,533.
The car segment saw Toyota slip 34.5% to 7,370 units, followed by Honda, off 27.4% at 5,836 and Mazda, down 42.7% at 2,242.
The CV segment saw Toyota in the black, up 10.1% to 15,174 units. Isuzu ranked second and Honda recovered from a disastrous year-earlier result to soar 444.8% to 2,697 units.
Within this, Toyota deliveries of 1-ton pickups rose 11.8% to 14 474 units, while Isuzu fell 13.2% to 9,958 and Mitsubishi dropped 24.1% to 2,670.
After seven months, Toyota remained the runaway leader with sales down 22.9% at 145,669 units for a 33.9% market share. Isuzu followed, down 16.1% at 80,280 units, ahead of Honda, up 13.4% at 63,326.
The car market saw Toyota down 30.8% at 60, 655 units, with Honda down 10.8% at 44,634 and Mazda up 53.2% at 13,228.
Toyota led the CV segment through July, down 16.1% at 85,014 units, with Isuzu also off 16.1% at 80,280 and Honda spiking 224.7% to 18,692.
Within this, Toyota led the 1-ton pickup market despite dropping 17.4% to 78,909 units, while Isuzu was off 17.6% at 73,139 units and Mitsubishi fell 13.7% to 18,489.
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