Thai LV Sales Flat in May Amid Economic Uncertainty

Economic factors bogged down Thailand’s new-vehicle sales in May.

Toyota Thailand, which collates data for the industry, reports the month’s sales inched up just 0.6% to 66,422 units, with Executive Vice President Wutikorn Suriyachantananon citing falling crop prices and reduced purchasing power.

“Although the domestic economy will benefit from government stimulus measures and recovery, the consumer confidence index in May dropped for the first time in six months due to worries over global economic volatility and the low crop prices,” Wutikorn says in a statement. “It is still not fully recovered, and the auto market in June will not see much expansion.”

Car sales in May rose 4.4% to 26,151 units but, reflecting the rural issues, commercial-vehicle deliveries dropped 1.7% to 40,271, including the 1-ton pickup truck segment off 3.7% at 32,317.

Still, the 5-month total saw the market up a healthy 12.4% year-on-year at 340,179 units. Car sales were ahead 27.3% at 132,056 units, while CV deliveries climbed 4.7% to 208,123, with Toyota crediting the growth to automakers’ new-model introductions and promotional activities.

Toyota continued its market dominance in May despite a 19.6% plunge in sales to 17,926 units that resulted in its failure to lead either the car or CV segments for the first time in years.

Isuzu followed, down 4.7% at 12,156 units, while Honda rose 2.0% to 10,011.

In the car market, Honda moved to the top of the table as its deliveries eased just 1.2% to 7,088 units, while Toyota plunged 22.2% to 6,923. Third-place Nissan jumped 32.7% from a low base to 2,960 units.

Isuzu led the CV market, down 4.7% at 12,156 units, ahead of Toyota, off 18.0% at 11,003, with Ford taking third place by soaring 44.0% to 4,187.

Within the CV segment, Isuzu led the 1-ton pickup truck market, down 5.0% at 11,064 units, followed by Toyota, down 19.0% at 10,400, and Ford, up 44.1% at 3,946.

Despite its May slip, Toyota continued to lead the year-to-date result, up 7.8% at 94,529 units for a 27.8% market share. Isuzu followed, ahead 7.9% at 65,970 units, ahead of Honda, up 10.5% at 48,550.

The car market saw Toyota grow by 35.4% to 37,703 units, followed by Honda, up 18.2% at 36,962, and Mazda, ahead 22.4% at 14,010.

Isuzu led the CV segment, up 7.9% at 65,970 units, with Toyota down 5.1% at 56,826 and Ford jumping 49.1% for third place with 20,715.

Within this, Isuzu topped the 1-ton pickup market, rising 8.3% to 60,389 units. Toyota dropped 6.2% to 53,293 units, with Ford up 49.4% at 19,745.

Ford continued to dominate the non-Japanese contingent, with May sales rising 43.0% to 4,220 units for a 5-month total ahead 47.7% at 21,025 units. Chevrolet was a distant second, up 33.6% in May at 1,276 units for a year-to-date total up 28.0% at 7,333.