A total of 49,319 vehicles were sold in Thailand in February this year, reflecting a decline of 6.7 per cent compared to the corresponding period a year ago.
According to figures from Toyota Motor Thailand Co Ltd (TMT), passenger car sales dropped by 4.7 per cent to 18,937 units, while the commercial vehicle market went down by 7.9 per cent to 30,376 units.
TMT vice president Supakorn Ratanavaraha said, “The automobile market in March was in a stable state, which is a result of the overall economic situation. However, this year the pickup truck market has a chance to improve with the new government support measures.”
The Thai Credit Guarantee Corporation (TCG) is preparing to offer up to Bt10 billion as credit guarantee fund for SMEs that wishes to purchase 1-ton pickup trucks. Applications will be accepted starting on April 1.
“In addition, car manufacturers also provide special offers to support small business customers and SMEs, which may help push for more investment in vehicles for use in businesses,” he added.
Supakorn said that a good number of new models with attractive sales promotions are also being offered at the ongoing Bangkok International Motor Show (March 26 to April 4).
“This could serve as a contributing factor in terms of boosting consumer decision-making,” he added.
Meanwhile in February, Toyota was the biggest seller with 18,729 vehicles (38 per cent market share), followed by Isuzu with 6,832 units and Honda with 6,398 units. All three brand suffered declines, ranging from 4.9 per cent for Toyota, 10.7 per cent for Isuzu and a whopping 25.5 per cent for Honda.
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