Friday, 27 September 2013

Thailand Autos Report Q4 2013

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Thailand Autos Report Q4 2013
Sep 25th 2013, 00:00

Price: $ 1295  

Auto sales in Thailand in July 2013 fell 25.4% year-on-year (y-o-y), to 98,251 units, according to the Federation of Thai Industries (Gaikindo). In line with BMI's call for the market to contract in 2013, y-o-y vehicle sales have been steadily declining since May. Following the end of the first car scheme in 2012, sales are now increasingly dependent on fundamental market demand. Although sales for the first seven months of 2013 were up 13.9% y-o-y, to 839,044 units, we expect further y-o-y declines in the coming months as domestic demand takes over as the key driver. We have decided to adopt an even more downbeat stance as we see evidence of weakening domestic demand. As such, we have revised our vehicle sales growth forecast to -5.1%, to 1.36mn units, amidst the following factors. ...

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