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Vehicle sales in Thailand fell during the month of November due to the high base effect last year as consumers rushed to buy cars before tax changes. However, the Federation of Thai Industries (FTI) has forecasted a rise in the sales in the upcoming year.
Thailand’s auto sales dropped 2.3 percent from a year earlier during the January-November period, data released by the FTI showed Wednesday. Thailand's domestic car sales are expected at 800,000 units next year, up from an earlier estimate of 780,000, as a recovering economy lifts demand, the FTI said on Wednesday.
Annual domestic auto sales have been weak since May 2013, following the fading effect of a government first-car subsidy scheme, which ended in 2012, when sales jumped 81 percent. Thailand is a regional vehicle production and export base for the world's top carmakers.
Meanwhile, car exports are expected to be 1.2 million units next year, up from 1.18-1.19 million cars predicted for 2016, according to Surapong Paisitpattanapong, spokesman for the FTI's Auto Industry.
