Thai sales surge 25% in March | Automotive Industry News
Thailand’s new car or truck industry jumped by about twenty five% to 74,925 units in March 2021 immediately after declining by forty two% to 60,105 units in the similar thirty day period of past yr, according to wholesale facts compiled by the Federation of Thai Industries.
The facts exclude some major manufacturers, specially business automobiles by Chinese and European brands and also passenger automobiles offered by BMW and Mercedes-Benz.
The industry past thirty day period confirmed symptoms of enhancement immediately after two months of sharp declines despite surging COVID-19 bacterial infections in the past various months.
The spike in bacterial infections has dampened domestic sentiment as the prospect of a quick rebound in the country’s all-essential journey and tourism sector, which employs about 10m people and accounts for all over eleven% of GDP, recedes.
The car or truck industry past thirty day period was lifted by the Bangkok motor show which was held in the past 7 days of March and in early April possessing been cancelled past yr simply because of the pandemic. Historically lower fascination fees also served.
All round new car or truck product sales had been nevertheless down by five.five% at 189,093 units in the to start with quarter from 200,064 units in the similar interval of past yr. Last thirty day period, the FTI reported it expected total yr domestic product sales to slide by about five% to 750,000 units from 792,146 units in 2020.
Automobile exports rose 16.four% yr on yr to 104,506 units in March, and by one.7% to 258,108 units in the to start with 3 months of the yr, although generation elevated by nearly eleven% to 162,515 units past thirty day period and by two.7% to 465,833 units yr to date.