Thai Oct domestic car sales drop 11.3% y-o-y: industries federation

[BANGKOK] Domestic car sales in Thailand dropped for a fifth straight month in October, down 11.3 per cent from a year earlier to 77,121 units, the Federation of Thai Industries said on Wednesday.

Sales contracted due to stricter lending by banks and flooding in many areas of the country.

Domestic car sales in 2019 are forecast to fall 3.8 per cent to 1 million units, compared with last year's 19.5 per cent rise to 1.05 million units - the highest level in five years.

Thailand is a regional vehicle production and export base for the world's top automobile manufacturers.

REUTERS