Recovery in the Thai auto market continues as auto sales surged by 27.9 per cent in May, thanks to introduction of new models as well as attractive sales promotions offered by auto companies.
According to figures supplied by industry compiler Toyota Motor Thailand Co Ltd (TMT), a total of 84,965 vehicles were sold in the country in May, comprising of 33,160 passenger cars (up by 26.8 per cent) and 51,805 commercial vehicles (up by 28.6 per cent).
TMT executive vice president Vudhigorn Suriyachantananont said, “Demand for automobiles has been strong since the start of the year, and the growth of the Thai economy due to favorable factors like exports and tourism all contribute to the growth of the automobile market.”
He said auto sales in June are expected to maintain momentum, with economic expansion coming from government and private sector investment projects, along with competitive sales promotions from auto companies. These factors make it easy for consumers to make a purchase decision despite unclear political scenario and fluctuations in oil prices.
Toyota was the top seller in May, selling 26,673 vehicles, a jump of 48.8 per cent. Isuzu was second with 14,336 (up 17.9 per cent) and Honda was third with 10,420 units (up 4.1 per cent).
Meanwhile during the first 5 months of the year, auto sales totaled 401,264 units, increasing by 18 per cent. Passenger cars make up 153,179 units (up 16 per cent) while commercial vehicles sales were 248,085 units (up 19.2 per cent).
Toyota maintains its leadership during this period, with an aggregate of 114,175 units (up 20.8 per cent), followed by Isuzu with 73,416 units (up 11.3 per cent) and Honda with 49,289 units (up 1.5 per cent).
Toyota also leads the passenger car market from January to May, with an aggregate of 43,200 units, but with 70,975 units (up 24.9 per cent) sold in the commercial market, still trails behind arch rival Isuzu, with 73,416 units (up 11.3 per cent).