Thai July New Vehicle Sales Down 3.6% On Year

Sales of new cars and trucks in Thailand slipped 3.6% on year to 43,156 units in July, the smallest drop in 14 months amid the economic slowdown. Passenger car sales fell for the third month in a row because of the higher base last year and as some consumers waited for the release of new models, the local unit of Toyota Motor Corp., which compiles figures for the sector, said in a statement Friday. For the first seven months of this year, new vehicle sales slid 25% to 274,584 units, it said. In July, passenger car sales dropped 9.1% to 17,533 units. Toyota had the largest market share of that segment at 43%, while Honda Motor Co. followed with 38.8% share. Sales of commercial vehicles, including one-ton pickup trucks, rose 0.5% to 25,623 units, with Toyota and Isuzu Motors Ltd. grabbing 42.3% and 34.7% of the market, respectively. Toyota Motor Thailand expects vehicle sales in August will be steady, as the traditionally low season for vehicle sales will be offset by the introduction of new models including the Toyota Camry Hybrid and Toyota Hilux Vigo, it said. Higher oil prices will also likely have an impact on consumers considering buying a new vehicle.