Thai sales continue to fall in December


New vehicle sales in Thailand fell further in December 2022, down 9% yoy to 82,799 units, according to local reports, citing the latest wholesale data just released by the Federation of Thai Industries (FTI).

This followed a 5% decline in November and was attributed to local flooding due to heavier-than-usual monsoon rains and ongoing semiconductor shortages, which have impacted operations at some local automakers.

The country’s economy remained strong, buoyed by a return in international tourism earlier in the year, with GDP growing 4.5% year-on-year in the third quarter thanks to strong domestic consumption. The Bank of Thailand raised its benchmark interest rate by 75 basis points to 1.25% last year.

For the full year, domestic vehicle sales rose nearly 12% to 849,388 units from 759,119 units in 2021, mainly due to strong demand for pickup trucks.

Vehicle production rose 3% to 158,606 units in December and nearly 12% to 1,883,515 units last year, while exports rose 10% to 111,605 units last month.





Source

Hey, I am Sakib Hossain Sojib, an entrepreneur known as an SEO Specialist, Digital Marketer, Blogger, and Content Creator. I have a team of researchers who guide and review products for our audience to help them by providing valuable information to help our audience makes the best decisions for their needs. I love to take care of my cars. So, I like and enjoy car maintenance and automotive research. The provided content is based on my learning, research, and understanding of the topic and its concept. Our extensive experience in the industry allows us to offer unique insights and perspectives on the latest trends and products. We aim to educate and empower our readers by providing them with the knowledge they need to make informed decisions about their needs.

Adblock Detected!

Please consider supporting us by disabling your ad blocker

Refresh Page