Thai Sales Off 10.7% in October, Down 0.7% on Year

Faced with consumer caution on big-item spending, the Thai auto industry saw October sales fall 10.7% year-over-year to 60,634 units.

Toyota Thailand, which collates national sales for the industry, says car sales dropped 4.8% to 23,117 units and commercial vehicles tumbled 14.0% to 37,517, including the 1-ton pickup segment off 13.9% at 30,527 units.

The result pushed the year-to-date total back into negative territory, down 0.7% at 617,159 units.

Toyota attributes the slide to new-product launches that boosted year-ago sales, along with consumer concerns about the high cost of living and strict loan conditions set by financial institutions.

Toyota expects November sales will be close to the October result, with end-of-year demand boosted by the 33rd Thailand International Motor Expo in Bangkok from Dec. 1-12.

Toyota continued to dominate the market in October despite sales falling 9.2% to 20,929 units for a 34.5% market share. Isuzu was a distant second, rising 5.3% to 11,296, ahead of Honda, off 16.4% at 8,112.

In the car segment, Toyota slipped 1.9% to 8,455 units. Honda followed, down 4.4% to 6,236 units, with Mazda off 13.3% at 2,010.

The CV market saw Toyota on top, but down 13.5% at 12,474 units, with Isuzu up 5.3% at 11,296 and Ford down 1.6% at 3,173.

Within the CV segment, the 1-ton pickup market had Toyota down 16.5% at 11,639 units, ahead of Isuzu, up 4.3% at 9,977, and Ford, up 1.7% at 3,028.

Toyota was the light-vehicle market leader through the year’s first 10 months despite falling 9.1% to 193,497 units, ahead of Isuzu, up 2.6% at 115,644 units and Honda, up 0.3% at 89,611.

The passenger segment saw Toyota facing a challenge from Honda. Toyota fell 19.1% to 69,114 units, while Honda rose 6.2% to 65,756. Mazda, which is moving to a new headquarters to accommodate its expanding operation, followed with a 9.2% increase to 22,428.

The CV market remained Toyota territory, despite a 2.4% drop in deliveries from like-2015 to 124,383 units. Isuzu rose 2.6% to 115,644 units, ahead of Mitsubishi, up 10.8% at 31,293, all of them 1-ton pickups.

The CV 1-ton pickup segment was led by Toyota, down 1.8% at 117,273 units, ahead of Isuzu, up 1.8% to 103,963 units, and Mitsubishi.