BANGKOK, Feb 17 (Bernama) -- Weakening global economic growth coupled with internal factors were the main reasons behind Thailand's lower sales of cars and trucks last month, says the Automotive Industry Club of the Federation of Thai Industries (FTI).
Deputy Chairman Surapong Paisitpatanapong said sales of cars and trucks in January dropped 13.4 per cent year-on-year (y-o-y) to 51,715 units.
"The lower sales was mainly due to the global market and domestic economy that have yet to recover, while other key domestic factors, such as the low prices of agriculture products and a slowdown in private investment, also played a part," he said Wednesday.
Customers' decision to buy new cars at the end of last year just before the enforcement of a new and higher tax for automobiles in January this year also played a part in the contracting sales figures, he said.
Nevertheless, Thailand's exports of cars and trucks in January registered a slight increase of 1.38 per cent y-o-y to 93,714 units valued at 50.582 billion Baht (RM1 = 8.44 Baht).
Inclusive of engines and spare parts, he said, the value of exports in January was 69.149 billion Baht.
-- Bernama
Source: http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1216558
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