Thai Military Coup Seen Prolonging LV Sales Slump
Toyota Thailand data shows that after four months, new-vehicle deliveries in the country slumped 43.1% from like-2013, including a 51.4% retreat in car sales and a 35.6% backslide in commercial-vehicle deliveries.
There’s little prospect of Thailand’s new-vehicle sales numbers recovering this month after the April result saw a 33.3% plunge to 73,260 units, Toyota Thailand says.
Releasing the latest industry sales numbers, Toyota Senior Vice President Wutthikorn Suriyachantanano says last week’s military coup has curtailed any recovery.
“The economy is slowing while the political condition is intensifying,” Wutthikorn says in a statement. “This may affect consumer and investor psychology and have an impact on the auto market.”
Thailand faces years of military rule following its 19th coup in 82 years.
The government National News Bureau reports the ailing 86-year-old King Bhumibol Adulyadej signed a royal command appointing coup leader Army Chief General Prayuth Chan-ocha as head of the National Council for Peace and Order to administer the country and “bring the situation back to normal.”
Toyota’s data shows that after four months, Thai new-vehicle deliveries slumped 43.1% from like-2013 to 297,431 units.
April saw car deliveries dive 34.4% to 31,168 units, while commercial-vehicle sales tumbled 32.3% to 42,092, including the 1-ton pickup segment off 35.0% to 34,383.
The year-to-date car segment plunged 51.4% to 121,450 units, while the CV segment dropped 35.6 % to 175,981.
Toyota was the April sales leader despite a 25.9% backslide to 26,683 units, outpacing Isuzu, off 36.8% to 13,467, and Honda, retreating 64.4% to 7,194.
The car segment saw Toyota, up 3.0% to 12,599 units, well ahead of Honda, sinking 65.5% to 6,473, and Nissan, down 14.1% to 2,949. Toyota also led the 1-ton pickup segment, down 39.2% to 13,267 units and narrowly ahead of Isuzu, slipping 35.5% to 12,538.
After four months, Toyota deliveries were down 31.2% to 110,898 units, almost double that of Isuzu, down 33.3% to 56,111. Honda was a distant third, contracting 68.0% to 29,555 units.
Toyota dominated the car segment with 4-month sales off 21.5% to 51,969 units, ahead of Honda, falling 68.4% to 25,630 and Nissan, down 66.4% to 12,262.
The 1-ton pickup market saw Toyota tumbling 36.8% to 55,677 units, just ahead of Isuzu, off 31.0% to 52,223.
Ford got through April relatively unscathed with deliveries down just 12.5% to 3,605 units for a year-to-date total off 29.8% to 13,443.
Chevrolet’s April result fell 37.6% to 2,880 units for a 4-month total down 54.1% to 10,124.
The month saw the first ’14 Chevrolet Captiva SUV come off the production line at the Rayong Assembly Plant, 110 miles (175 km) south of Bangkok. Chevy’s flagship vehicle is scheduled to reach dealerships in June with a price ranging between TB1.3 million ($39,834) and TB1.72 million ($52,754).
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