First-Half Result Shows Thai LV Market Recovering

Automakers are raising their sales forecasts for full-year sales in Thailand after a robust first half.

Toyota Thailand, which collates national sales for the industry, says first-half sales rose 11.2% year-on-year to 409,980 units. It credits an economic recovery boosted by government stimulus programs.

The car market rose 25.0% to 161,483 deliveries with commercial-vehicle sales climbing 3.8% to 248,498 units. Within the CV segment, the important 1-ton pickup market rose 4.4% to 201,019 units.

The half ended with June sales up 5.7% from like-2016 at 69,798 units.

“The auto market growth of 11.2% for the first half was beyond our expectations, and consequently we foresee the total auto market to reach 830,000 units this year, an 8% rise from 2016,” Toyota Thailand President Michinobu Sugata says in a statement.

Mazda’s full-year projection is for 820,000 sales, but both its and Toyota’s predictions would mean Thailand’s first annual growth in five years after last year’s 3.9% fall to 768,788 units.

Toyota predicts the full-year result will see car sales soar 21.1% to 339,000 units, but CV deliveries edge up just 0.4% to 491,000.

Toyota led the 6-month result, rising 3.1% to 112,488 units, followed by Isuzu, up 6.7% at 77,109, and Honda, up 13.0% at 61,428.

Honda sold 45,983 units in the new-car segment to top Toyota’s 45,167, while Mazda followed with 16,971.

Isuzu led first-half CV deliveries, rising 5.7% to 77,109 units, moving ahead of Toyota, off 8.3% at 67,321. Ford finished third, up 44.0% at 25,157 units.

The 1-ton pickup segment saw Isuzu on top with 70,419 units to Toyota’s 63,105 and Ford’s 23,877.

Ford had a strong first half with the Ranger helping it achieve a healthy 41.5% rise to 25,513 units. Chevrolet climbed 26.3% to 8,750 units.

Sugata is leaving the full-year forecast for Toyota unchanged at an 8.1% increase to 265,000 units. He sees Toyota’s first-half share of 27.4% rising to 31.9% by year’s end.

Mazda’s first-half result was up 12.9% to 23,893 units, helped by the introduction of four new models.

Mazda Thailand President Chanchai Trakarnudomsuk says the company will launch two more new models in the second half and he expects sales to reach 51,000 units by year-end, up from 50,000 previously predicted.