Thailand Finance Business News & Lifestyle

Auto market enjoyed 53.4% growth in May

The auto industry continued to record an increase in sale figure for the ninth consecutive month in May with overall market growth of 53.4 percent comparing to the same period of 2009, according to data released by an official data collector for the automotive industry Toyota Motor Thailand.

Toyota assistant senior managing director Wutthikorn Suriyachantananont said in a statement that the market has been growing in every segment, pushed by the economic recovery and the pre-order sale during an automotive exhibition.

“There have been impacts from the political crisis, but fast market turnaround helped mitigated a sharp falling in demand,” he said.

Mr. Wutthikorn remarked that the automakers’ ramped up their production capacity has also created demand at both local and export markets.

Toyota reported the total vehicle sale for May 2010 was 62,205 units, or 5,077 units higher than April sale of 57,128 units.

The total auto sale from January through May period was 286,135 units, up 52.2 percent from the same period a year ago.

The company has revised up its forecast on auto sale for 2010 to be increased by 9.0 percent to 600 thousand units from its previously predict at 549 thousand units.

Leave a Response