Domestic car sales hit 25-month low

Domestic car sales for January were down 45.5% on January 2013 to 68,508 units - the lowest level for 25 months, Surapong Paisitpatanapong, spokesman for the Automotive Industry Club, said on Thursday.

Car sales figures also dropped 39.86% on December 2013, he said.

The chairman attributed the decline in car sales to an end to the delivery of cars ordered under the government’s first car scheme, a slowdown in the economy, more stringent control on car loans by financial institutions and ongoing political turbulence that made buyers delay their car purchasing plans.

Car exports over the month totalled 81,025 units, down 6.93% on January 2013. Export value amounted to 37.41 billion baht, down 5.51% on the same month last year, he said.

Vehicle output in January dropped 31.09% in comparison to the same month in 2013, but was up 2.36% on December 2013, to 162,652 units.

Output from February to March is projected to stand at 511,342 units, an increase of 1.38% on actual output between November 2013 and January 2014, and a decline of 22.04% on the actual output during the same period last year.

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