Thai domestic car sales jump 61.72% y/y in August

Thai domestic car sales jump 61.72% y/y in August
Vehicles are seen stuck in traffic along a road in Bangkok, Thailand December 18, 2018. REUTERS/Soe Zeya Tun

BANGKOK : Domestic car sales in Thailand surged 61.72 per cent in August from a year earlier to 68,208 units, helped by an easing of COVID-19 curbs and a low baseline last year, the Federation of Thai Industries (FTI) said on Thursday.

That compared with July’s 22.1 per cent year-on-year rise. In the January to August period, car sales rose 19.61 per cent from a year earlier.

Car sales should meet a target of 850,000 vehicles in the whole of 2022, the FTI said.

In August, car exports increased 23.09 per cent from a year ago after July’s 17.7 per cent year-on-year rise.

Thailand is a regional vehicle production and export base for the world’s top carmakers, including Toyota and Honda. The industry accounts for about 10 per cent of Southeast Asia’s second-largest economy and its manufacturing jobs.

 

Source: Reuters