Slumping Thai LV Market Reverses Course in November
A Toyota executive says the market is continuing to recover, helped by political stability under the military government, which has detailed clear spending plans for 2016, and rising consumer confidence.
Thailand’s new-vehicle sales climbed for the first time in 31 months as consumers raced to beat a tax hike in the new year.
Deliveries rose 4.6% in November to 76,426 units, with car sales down 12.0% to 25,732. This was more than offset by a 15.7% jump in commercial vehicles to 50,694 units, underscored by popular new models released earlier in the year.
Within the CV segment, 1-ton pickup truck sales rose 14.5% to 40,810 units.
Toyota Thailand, which collates sales data for the Thai industry, says with one month to go, year-to-date sales were down 11.9% from like-2014 at 698,168 units.
Car sales were off 20.6% at 264,464 units after 11 months and CV deliveries eased 5.6% to 433,704, with the 1-ton pickup segment down 9.5% at 342,910.
Assistant Senior Managing Director Vudhigorn Suriyachantananont says the market is continuing to recover, helped by political stability under the military government, which has detailed clear spending plans for the year ahead.
Vudhigorn says in a statement to WardsAuto that the government’s actions have contributed to the growth of the economy during the year and resulted in a rising consumer confidence index.
The auto industry is looking for a big end to the year. December traditionally is the month with the highest sales and a restructuring of the excise tax on new cars vehicles early next year has sped up purchasing.
The tax changes intended to encourage the increased use of fuel-efficient cars resulted in the sale of multi-purpose vehicles jumping 199% in November.
Meantime, the English-language Bangkok Post newspaper quotes the Federation of Thai Industries as saying that after three years of falling sales, the industry expects deliveries to grow 3% in 2016.
Toyota Shrugs Off November Slip
Toyota led the November market with sales down 15.1% year-on-year at 24,578 units for a 32.2% market share. Isuzu followed, down 3.8% at 11,586 units, ahead of Honda, up 7.1% at 10,288.
The car market saw Toyota down 33.4% to 8,766 units, with Honda off 9.4% at 7,088 and Mazda up 96.3% at 2,522.
The increasingly healthy CV market had Toyota up 0.1% at 15,812 units, ahead of Isuzu, down 3.8% at 11,586 and Mitsubishi, up 101.5% at 7,540.
The 1-ton pickup segment, which dominates CV sales, saw Toyota sales rise 1.3% in November to 15,101 units for 37.0% of the market. Isuzu followed, down 3.5% at 10,387 units, ahead of Mitsubishi, up 101.5% at 7,540.
Toyota continued to dominate the Thai market despite its 11-month sales falling 19.2% to 237,439 units. Isuzu is a distant second, down 14.1% at 124,292 units but comfortably ahead of Honda, up 7.0% at 99,635.
The car market had Toyota down 30.8% at 94,155 units with Honda off 18.4% at 68,999 and Mazda up 55.6% at 23,059. Toyota also kept it comfortable lead in the CV segment despite slipping 9.2% to 143,284 units. Isuzu followed, down 14.1% at 124,292 units, with Mitsubishi down 0.3% at 35,776.
Within this, Toyota topped the 1-ton pickup market, down 9.4% through November at 134,544 units, ahead of Isuzu, down 15.2% at 112,477 and Mitsubishi, down 0.3% at 35,776.
Ford continued to lead the non-Japanese segment with November sales up 54.9% at 4,500 units for an 11-month total down 9.8% at 31,233.
Ford’s recovery lies in the CV segment, where deliveries are up 68.2% to 4,293 units in November, leaving it down a slight 0.8% year-to-date at 27,539.
In the 1-ton pickup segment, Ford soared 106.1% in November to 4,011 units, putting it ahead 12.4% at 24,434 for the year thus far.
Chevrolet headed in the opposite direction, down 30.2% for the month at 1,399 units and off 36.1% year-to-date at 15,152.
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