Posted 3/27/2024, 6:34:00 AM
Thailand Car Sales Plunge 26% in Early 2024 on Economic Woes, Oversupply
- Car sales in Thailand fell 26.15% in first 2 months of 2024, 18,000 fewer units sold than year earlier
- Economic weakness in Thailand evident at Bangkok motor show opening
- Automakers and dealers fear triple blow to demand from high consumer debt, tighter financing, and supply flooding market
- Hybrid and electric car sales increased, but did not offset drop in internal combustion vehicle sales
- Data from Federation of Thai Industries shows overall 26.15% drop in January and February 2024 car sales versus 2023