Thai Sales Erupt From Slump With 19.9% February Gain

Thailand’s prolonged auto-market slump came to a decisive end in February, with new-vehicle sales jumping 19.9% year-on-year to 68,435 units.

Toyota Thailand, which coordinates sales for the Thai industry, says car sales soared 49.8% to 26,702 units. Commercial vehicles rose 6.3% to 41,733 units, including the important 1-ton pickup segment up 9.8% at 34,480.

Toyota Thailand Vice President Vudhigorn Suriyachantananont says dealerships benefited from new-model launches in January and improved consumer confidence.

The latest result left the 2-month total up 15.4% from like-2016 at 125,689 units. Car sales were up 37.2% at 46,930 units and CVs were ahead 5.4% at 78,759.

Vudhigorn says the increased demand also resulted from promotional activities and a softening of auto-loan requirements.

“The March car market is expected to continue to grow, although the situation of global economic volatility as well as rising oil prices may impact consumer confidence,” he says in a statement.

Longtime market leader Toyota saw sales climb 38.6% in February to 21,572 units, well ahead of Isuzu, up 1.3% at 12,326, and Honda, up 20.4% at 9,707.

Toyota particularly dominated the car segment, soaring 106.5% at 8,314 units. Honda rose 47.9% to 7,623 units, ahead of Mazda, up 5.9% at 2,375.

The CV segment saw Toyota return to the top of the charts with deliveries up 14.9% at 13,258 units. Isuzu dropped back to second, up 1.3% at 12,326 units, and Ford was third, up 44.8% at 3,937.

Within the CV results, Toyota led the 1-ton pickup market, up 16.7% at 12,542 units. Isuzu followed, up 0.2% at 11,333 units, ahead of Ford, up 47.0% at 3,801.

Through two months of the new year, Toyota led the Thai market, up 24.7% at 36,687 units, with Isuzu up 9.9% at 25,523 and Honda ahead 28.5% at 17,573.

The car segment had Toyota up 88.1% at 14,148 units, with Honda up 43.4% at 13,563 and Mazda down 2.1% at 4,535.

Isuzu continued to lead the CV market with sales up 9.9% at 25,523 units, leaving Toyota in second place, up 3.0% at 22,539, and Ford in third, up 42.8% at 7,364.

The CV’s 1-ton pickup segment had Isuzu up 9.5% at 23,440 units, followed by Toyota, up 3.7% at 21,170 and Ford, up 46.7% at 7,110.

Ford led the non-Japanese segment in Thailand, with February sales up 42.2% at 3,981 units for a 2-month total ahead 38.7% at 7,450. Chevrolet was well back, rising 22.8% to 1,302 units in February and giving it a 2-month total ahead 10.3% at 2,429.

Meanwhile, the Bangkok Post reports General Motors is to end the manufacturing and marketing of its sedans in Thailand and concentrate on pickup trucks and SUVs. GM produces the Chevrolet Cruze sedan in Thailand along with the Colorado pickup and SUV variants Trailblazer and Captiva.

GM Thailand Managing Director Wail Farghaly tells the newspaper the company will market the Cruze until the end of its lifecycle. GM does not give an exact time frame, but the lifecycle of a vehicle normally is four years and the Cruze was launched in 2015.

GM’s car sales fell 89.3% last year to just 312 units, while deliveries of its Colorado rose 10.4% to 12,844 units. Trailblazer sales fell 25.6% to 1,185 units and Captiva dropped 55.3% to 590.

GM sales peaked in Thailand in 2012 at 75,461 units. They fell to 56,389 deliveries in 2013; 25,700 in 2014; 17,456 in 2015; and 14,931 last year.