Thai Automakers Boost 2017 Sales Forecast

The Federation of Thai Industries raises its full-year vehicle sales forecast for Thailand to 850,000 units, up fractionally from its previous prediction of 830,000.

The federation cites improved market sentiment for its new forecast that would leave deliveries up 10.6% year-on-year.

The increase came as Toyota Thailand, which collates sales for the Thai industry, reports October sales jumped 13.1% year-on-year to 68,551 units for a 10-month result up 11.7% at 689,266.

Car sales rose 24.3% to 28,739 units, with commercial vehicles up 6.1% at 39,812, including 1-ton pickup deliveries ahead 6.7% at 32,572.

Vudhigorn Suriyachantananont, executive vice president-Toyota Thailand, says October’s growth was driven by the continued popularity of new-car models and automakers’ promotions.

After 10 months, the car market was up 20.4% at 273,366 units. The CV market was up 6.6% at 415,900 units, including the 1-ton pickup segment ahead 7.2% at 335,698.

“The demand for the domestic car market has increased steadily since the beginning of the year,” Vudhigorn says in a statement. “In addition to government support policies, the people are more confident in the economy, with more spending and investment.”

Toyota topped the October sales chart, edging up 1.5% to 21,249 units, with Isuzu ahead 6.9% at 12,080 and Honda climbing 19.2% to 9,666.

The car market saw Toyota up 17.7% at 9,950 units, followed by Honda, up 18.9% at 7,415, and Nissan, up 73.8% at 2,728.

Isuzu paced the October CV market, rising 6.9% to 12,080 units to move ahead of Toyota, down 9.4% at 11,299. Ford was in third place, up 38.0% at 4,380 units.

Within the CV segment, the 1-ton pickup market saw a tight battle with Toyota slipping 7.6% to 10,751 units, just holding off Isuzu, up 7.2% at 10,691. Ford was third, up 36.9% to 4,146 units.

Toyota had a comfortable lead after 10 months, despite falling 3.4% to 186,962 units for a 27.1% market share. Isuzu followed, up 13.2% at 130,884 units, ahead of Honda, up 14.9% at 102,937.

But Honda led the car market, up 16.6% at 76,697 units. Toyota followed, ahead 8.8% at 75,163 units, with Mazda a distant third, up 28.8% at 28,879.

The 10-month CV result saw Isuzu up 13.2% at 130,884 units. Toyota followed, down 10.1% at 111,799 units, with Ford up 38.8% on 43,414.

Within the CV segment, Isuzu topped the 1-ton pickup market, rising 14.8% to 119,318 units. Toyota followed, down 11.6% at 103,692 units, with Ford up 39.5% at 41,061.

Meantime, FTI automotive industry club spokesman Surapong Paisitpatanapong tells the Bangkok Post the club is confident the final quarter will be a peak season for local sales with 160,000 to 170,000 vehicles leaving dealerships.

“This is the first year the local car market has picked up after contractions over the past four years,” he says.

Car output increased 1.5% to 163,487 units in October, leaving the year-to-date build up 0.2% at 1.64 million. The FTI now predicts full-year production of 1.95 million units, up from an earlier