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Thai Sept domestic car sales drop 14.1% y-o-y: industries federation
[BANGKOK] Domestic car sales in Thailand dropped in September for a fourth straight month, down 14.1 per cent from a year earlier to 76,195 units, the Federation of Thai Industries said on Friday.
In June, sales dropped 2.1% on-year, the first contraction in two-and-a-half years.
Sales contracted in September due to banks' stricter lending and floods in many areas of the country.
Domestic car sales in 2019 are now forecast to be 1 million units from 1.05 million units projected earlier. Last year, sales jumped 19.5 per cent to 1.04 million units - the highest level in five years.
Thailand is a regional vehicle production and export base for the world's top automobile manufacturers.