Thai New-Vehicle Sales Continued Slide in August

The news isn’t getting any better for the vehicle industry in military-ruled Thailand, with August sales off 31.4% to 68,835 units, leaving the 8-month total down 38.3% at 579,273 units.

Toyota Thailand, which collates sales data for the industry, says deliveries fell across the board, with the month seeing new car sales dropping 41.2% to 29,990 units and the commercial-vehicle segment sliding 21.2% at 38,845 units.

Within the CV sector, the important 1-ton pickup market dropped 21.4% to 31,832 units.

The car market is off 46.0% year-to-date at 243,387 units, while the CV segment is down 31.3% at 335,886, including the 34.1% drop in 1-ton pickup sales to 243,459 units.

Senior Vice President Wutthikorn Suriyachantanano says demand is being hurt by the country’s economic slowdown and high debt in the household sector, along with the continuing fallout from the end of the government’s first-car-buyer tax-rebate scheme and the recent military coup.

Wutthikorn says Toyota expects a continued falloff in September, but the appointment of cabinet ministers and the National Assembly’s unanimous approval of the draft budget for 2015 are expected to increase investor confidence, potentially slowing the decline.

Toyota led the August result with sales down 19.9% to 25,027 units, ahead of Isuzu, off 13.2% to 12,394 and Honda, down 44.3% to 8,777.

The car segment saw Toyota slip 13.6% to 11,844 units, Honda drop 42.2% to 8,393 and Nissan dive 63.8% to 2,085.

Toyota continued to lead the CV segment, down 24.8% to 13,183 units, just ahead of Isuzu, off 13.2% to 12,394. Mitsubishi was a distant third, down 6.1% to 3,470.

Within the CV segment, Toyota led the 1-ton pickup market, down 22.9% to 12,322 units, followed by Isuzu, off 8.5% to 11,219, and Mitsubishi, sliding 6.1% to 3,470.

Ford led the non-Japanese segment with August sales down 30.5% to 2,988 units for an 8-month total off 26.2% to 26,156.

Chevrolet followed, sliding 65.7% in August to 2,017 units for a year-to-date total off 54.9% to 18,480.

The Federation of Thai Industries automotive industry club says production and exports also fell during August.

Spokesman Surapong Paisitpatanapong tells the Bangkok Post August production slid 27% to 140,797 vehicles, as exports dropped 14% to 89,550 units. Year-to-date production is down 28% to 1.25 million units, even as exports edged up 1.7% to 742,382.