Slumping Car Demand Stalls March Sales in Thailand

New-vehicle sales fell again in Thailand in March as a second straight monthly increase in commercial-vehicle deliveries couldn’t offset a continuing slump in car demand.

Toyota Thailand, which collates sales data for the industry, says the market was down 2.0% year-on-year to 72,646 units with the CV segment up 11.2% at 48,883 and the car segment tumbling 21.2% to 23,763.

The important 1-ton pickup segment of the CV market climbed 16.5% to 38,915 units.

The March result left the Thai market’s first-quarter total down 8.2% at 181,560 units.

The car market fell 26.6% to 57,973 units and the CV segment edged up 4% to 123,857. The 1-ton pickup segment rose 6.9% to 99,313 units.

Mazda Thailand President Hidesuke Takesue says the Thai market is starting to heat up as Mazda’s first-quarter sales rose 36% to 10,904 units.

“Although there are no positive factors to help support the economy, the scenario for the auto market is brighter as more than 32,000 orders were placed at the recent Bangkok Motor Show,” he tells the Bangkok Post newspaper.

Toyota led the March market despite sales falling 23.1% to 21,101 units. The Japanese automaker again set the pace even as Isuzu narrowed the gap, rising 2.0% to 13,198 units. Honda followed, up 8.1% at 11,352 units.

Honda topped the car segment with sales up 4.7% to 7,648 units, overtaking Toyota, which plunged 56.8% to 5,789. Mazda followed, up 49.9% to 2,385 units.

The CV segment saw Toyota climb 9.0% to 15,312 units, ahead of Isuzu, up 2.0% to 13,198 and Mitsubishi, surging 81.9% to 5,427. Within this, Toyota topped the 1-ton pickup market, up 13.3% to 14,720 units, ahead of Isuzu, up 0.2% to 11,835, and single-model Mitsubishi, up 81.9% to 5,427.

Commercial Vehicles Keep Toyota on Top

Through three months of 2016 Toyota led the Thai market, down 27.9% at 50,513 units, ahead of Isuzu, up 1.4% at 36,413 and Honda, down 14.9% at 25,028.

The car market had Honda on top, down 20.8% at 17,106 units, followed by Toyota, down 57.6% at 13,310, and Mazda, up 43.3% at 7,018.

Toyota remained the CV sales leader after the first quarter, down 3.7% to 37,203 units, with Isuzu closing in, up 1.4% to 36,413. Mitsubishi followed, up 53.3% at 12,500. The 1-ton pickup market saw Toyota slip 1.7% to 35,140 units, ahead of Isuzu, up 0.7% at 33,249 units and Mitsubishi, up 53.3% at 12,500 units.

Ford saw its March sales jump 31.9% to 3,280 units for a first-quarter total up 28.9% to 8,653. The U.S. automaker’s market share rose 1.4 percentage to 4.8%.

The Ranger pickup remained the best-selling Ford nameplate in Thailand with first-quarter sales up 33% to 6,647 units. The truck is built at Ford’s AutoAlliance Thailand facility and demand is such the company says the plant will be operating at or near maximum capacity for the foreseeable future.

Chevrolet continued to struggle, down 5.8% to 1,420 units in March for a year-to-date total down 13.7% at 3,662.

The Post reports Federation of Thai Industries automotive industry club data shows vehicle exports fell 14.3% year-on-year in March to 109,334 units. That left first-quarter shipments down 6.2% at 307,760 units.