New car gross sales in Thailand declined simply barely in November 2020, to 79,177 models from 79,299 models in the identical month of final yr, in line with wholesale information compiled by the Federation of Thai Industries (FTI).
The car market has turn out to be far more secure in the previous couple of months, albeit towards weak year-earlier volumes, following very sharp falls earlier within the yr. Day-to-day home financial exercise within the nation has largely returned to regular after the federal government eased social and enterprise restrictions in the direction of the top of the second quarter as the specter of COVID-19 receded.
The financial system continues to be beneath vital strain from weak non-public consumption and funding, nonetheless, whereas enterprise and shopper confidence stays weak. Export demand is beneath strain from persevering with lockdowns in lots of key abroad markets, whereas the journey and tourism sector stays depressed as a result of restrictions on overseas tourism. GDP fell by 6.4% within the third quarter, in contrast with a greater than 12% decline within the second quarter.
Toyota reported a 3.9% gross sales enhance to twenty-eight,191 models in November and Isuzu’s gross sales jumped by nearly 20% to 17,577 models, whereas Honda’s gross sales have been simply barely increased at 8,908 models. Mitsubishi’s gross sales fell by over 5% to six,050 models, whereas Nissan’s gross sales plunged by over 23% to three,836 models.
Whole car gross sales within the first eleven months of 2020 have been down by over 24% at 696,510 models from 917,997 models in the identical interval of final yr.
