6/14/2019

Growth in Car Sales Slows to 4% in Thailand

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Growth in new-car sales in Thailand slowed to 4% (88,100 units) in May, the Federation of Thai Industries reports.

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Growth in new-car sales in Thailand slowed to 4% (88,100 units) in May, the Federation of Thai Industries reports.

Volume through the first five months of 2019 rose 9% to 437,700 units. But FTI predicts a more sluggish second half, citing political uncertainty and a lack of new model launches.

The trade group previously predicted full-year sales would expand 1% to 1.05 million vehicles. Now it says it may adjust its forecast downward, depending upon what action the new Thai government takes on spending.

The group blames a 4% drop to 95,300 units in exports last month on disruptions caused by the U.S.-China trade war.

FTI reports that vehicle production in Thailand rose 3% to 893,100 units in January-May, in spite of a 6% drop to 181,300 vehicles last month.