2014-02-04 07:19:03 - Thailand Autos Report Q3 2013 - a new market research report on companiesandmarkets.com
Auto sales in Thailand in March 2013 rose 42% year-on-year (y-o-y), to hit 157,527 units, according to Toyota Motor Thailand. Sales for the first three months of 2013 came in at 413,254 units, up 48.8 y-o-y.
Although sales continue to power to new highs, it is largely due to the fulfilment of deliveries under the first-car scheme, which ended last year. We believe that the spill over of 2012´s pre-orders into 2013 is artificially inflating the true demand in the economy, which is expected to be weaker owing to the withdrawal of the first car scheme. We are still calling for a contraction in auto sales of about 3% in 2013, to 1.4mn units.
According to the Federation of Thai Industries (FTI),
March vehicle production rose 34% y-o-y to 256,231 units, and production for the first three months of 2013 rose 44% y-o-y, to 721,460 units. While we remain bullish on production, the robust growth in Q113 has prompted us to upgrade our full-year forecast. We now forecast 2013 auto production to grow 8%, from 2% previously, to hit 2.65mn units.
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