May Sales Show Thailand Market Recovery in High Gear

Thailand’s new-vehicle sales continue to roar back from last year’s regional natural disasters, soaring 107.6% in May to a record 115,943 units.

Toyota Thailand, which collates industry sales, says passenger-car deliveries spiked 137.5% to a record 55,983 units. Commercial-vehicles surged 85.8% to 59,960, with the important 1-ton pickup segment jumping 89.4% to 52,155.

Toyota Thailand Executive Vice President Wutthikorn Suriyachantananon says demand has been high since early this year due to the popularity of new models and government support.

“This, combined with the fact that production has resumed normal capacity, has spurred the market,” he says in a statement.

The latest result boosted year-to-date sales 33.5% to 483,052 units, with car deliveries rising 22.6% to 197,137 and CVs growing 42.2% to 285,915.

The Thai Automobile Industry Assn. recently raised its production forecast to 2.2 million vehicles, up from the original 2.1 million projection announced in early 2012. Output will be divided equally between the domestic and export markets, it says.

Wutthikorn says the domestic momentum is continuing this month, with all plants now back to normal production and economic conditions encouraging sales.

“Despite the turmoil in Europe, the Thai economy has witnessed no direct impact,” he says. “While the economic problems in Europe may not directly affect the Thai economy, we need to stay in touch.”

Toyota continued its domination of the Thai market with total May sales surging 232.0% from  prior-year – when Japan’s earthquake and tsunami disaster crippled production in much of Asia due to supply constraints – to 43,706 units for a 37.7% market share. Isuzu followed, up 29.8% to 16,866, ahead of Honda, up 308.2% to 15,601.

The new-car segment saw Toyota deliveries jump 181.1% to 19,829 units for a 35.4% market share, ahead of Honda, up 323.6% to 14,970, and Nissan, up 127.9% to 9,252.

Toyota controlled the CV segment with sales up 290.7% to 23,877 units for a 39.8% share. Isuzu deliveries rose 29.8% to 16,866, ahead of Mitsubishi, up 3.8% to 6,296.

Within the CV result, Toyota led the 1-ton pickup segment for the month with sales soaring 297.9% to 22,082 units for a 42.3% share. Isuzu ranked second, up 30.8% to 15,368 and Mitsubishi followed, up 12.1% to 6,296.

After five months, Toyota was dominating the Thai market with deliveries climbing 49.6% to 195,899 units for a 40.6% share. Isuzu was a distant second, up 19.2% to 80,048, with Nissan third on a 41.2% gain to 43,321.

The car market through May saw Toyota up 35.5% to 84,979 units for a 43.1% share. Nissan rose 79.0% to 34,945, ahead of Honda, down 21.9% to 29,843.

Toyota led the 5-month CV total with sales up 62.6% to 110,920 units for a 38.8% share. Isuzu rose 19.2% to 80,048, ahead of third-place Mitsubishi, up 46.8% to 35,868.

Within the CV total, Toyota led the 1-ton pickup truck market, spiking 66.6% to 102,382 units for a 40.9% share. Isuzu deliveries rose 20.1% to 73,508, ahead of Mitsubishi, up 46.8% to 35,868.

Chevrolet led non-Japanese auto makers, with May sales rising 116.7% to 5,943 units for a 5-month total up 112.6% to 26,680 and a 5.5% share of the Thai market. Ford followed, up 51.8% to 3,820 and a year-to-date total up 37.7% to 16,338.

Ford Thailand saw its best-ever monthly result, driven by record sales of the Ford Ranger pickup with 1,493 units and second best-ever monthly sales of the Ford Fiesta with  subcompact 2,154.