Continued fall in vehicle sales in October
A number of 88,989 vehicles were sold in October, representing a 38 per cent decline from the same period last year when the first-car buyer scheme extraordinarily boosted demand.
Due to the plunge in October sales, the accumulated sale figures showed the first contraction.
According to the data compiled by Toyota Motor Thailand, in the first 10 months of this year, vehicle sales dropped by 1.8 per cent to 1.12 million units.
Vudhigorn Suriyachantananont, senior vice president at Toyota Motor Thailand, attributed the October plunge partly to the launch of new models at the end of the month as well as a cut in several passenger car model output in preparation for the production of new models.
He expects sale figures in November to be higher than the October figures, thanks to new models as well as marketing campaigns to be launched at the Motor Expo.
"Yet, the political instability could affect the overall economic picture and affect the auto industry," he said.