Friday, August 14, 2009

Thai July car sales drop 3.6%


Toyota revised down its forecast for the whole year sales, predicting a drop of 22 per cent amid the ongoing global economic recession. --PHOTO: REUTERS

BANGKOK - DOMESTIC car sales in Thailand fell 3.6 per cent year-on-year in July, the 14th consecutive month to show a drop although the rate of decline slowed, Toyota Motor Thailand announced on Friday.

The industry recorded sales of 43,156 units in July, but figures were improved from a month earlier when vehicle sales recorded falls of 13.4 per cent year-on-year.

Passenger car sales were hit hardest in July, falling 9.1 per cent, while commercial vehicle sales edged up 0.5 per cent.

Toyota compiles data on behalf of the auto industry in Thailand.

'The drop was the smallest in 14 months because sales last July were also low due to oil prices hitting an historic high at that time,' said Toyota Motor Thailand in its monthly release.

It said sales in August were likely to be stable with the introduction of new models boosting the market but with rising oil prices holding it back.

Car sales in the first seven months of the year fell by 25 per cent year-on-year to 274,584 units.

Last month Toyota revised down its forecast for the whole year sales, predicting a drop of 22 per cent amid the ongoing global economic recession.

Toyota remained the market leader in Thailand with a share of sales at 42.6 per cent, while Japanese manufacturer Isuzu accounted for 20.6 per cent. -- AFP

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