Small Pickups Pull Weight As Thai Sales Slump Slows

The all-important 1-ton pickup segment slowly is pulling Thailand’s auto market out of its long sales slump in a market that saw Toyota stay on top in February without winning a segment.

New-vehicle sales fell 10.7% last month to 57,093 units as a 29.9% plunge in car sales to 17,826 units more than offset a 1.9% rise in commercial-vehicle deliveries to 39,267, driven by the 1-tonners rising 2.2% to 31,398 units.

Toyota Thailand collates the national sales figures for the industry and, releasing the latest data, Executive Vice President Vudhigorn Suriyachantananont, says 2-month sales were down 11.9% from like-2015 at 108,914 units.

Year-to-date car volume was down 29.9% at 34,210 units and the CV market was off a slight 0.2% at 74,704.

Sales so far this year are lower because many buyers headed to the dealerships before the end of last year to avoid excise-tax increases in January, Vudhigorn says in a statement.

Tougher loan policies are also impacting sales this year.

Vudhigorn sees little change in the market this month, even though government spending has accelerated with measures to help farmers suffering through a severe drought and the launch of new models at the Bangkok auto show.

Toyota led February sales thanks to its overall strength across the market. Its year-on-year sales plunged 30.9% to 15,569 units, enough to stay ahead of Isuzu, up 3.5% at 12,171 and Honda, down 8.3% at 8,063.

But Honda topped the falling car segment, with sales down 29.9% at 5,154 units, overtaking a plunging Toyota, down 57.9% at 4,027. Mazda remained a distant third despite rising 43.5% at 2,243 deliveries.

Isuzu Challenges Toyota

The CV segment saw Isuzu on top, up 3.5% at 12,171 units. Toyota followed, down 10.9% at 11,542, well ahead of Mitsubishi, up 37.9% at 3,485, all of them 1-ton pickups.

Within the CV segment, Isuzu led the 1-ton market, up 4.2% at 11,316 units. Toyota followed, down 10.7% at 10,747 deliveries, with Mitsubishi a distant third.

Toyota – down 31.0% at 29,412 units – also led the 2-month sales total, despite failing to top a segment as year-to-date honors were shared by Honda and Isuzu. Isuzu’s year-to-date result was up 1.1% at 23,215 units, ahead of Honda, down 27.6% at 13,676.

The car market for January and February saw Honda on top, down 33.9% at 9,458 units, well clear of Toyota, off 58.2% at 7,521, and Mazda, up 40.1% at 4,633.

The CV segment also saw a new leader with Isuzu rising 1.1% to 23,215 units, ahead of Toyota, down 11.0% at 21,891 and Mitsubishi, up 36.8% at 7,073.

Within this, the 1-ton pickup market saw Isuzu up 1.0% at 21,414 units, Toyota down 10.4% at 20,420 and Mitsubishi up 36.8% at 7,073.

Ford increased its lead in the non-Japanese segment, bucking the falling market with deliveries up 24.5% to 2,799 units for a 2-month total up 27.1% at 5,373.

Chevrolet’s February result was off 23.0% year-on-year to 1,060 units with a year-to-date total down 18.2% at 2,202.

Ford’s strength was in the CV segment with its popular Ranger helping push deliveries up 30.6% in February to 2,718 units. Ford’s car sales dropped 51.8% to just 81 units.