Frost & Sullivan Sees Vehicle Sales in Thailand Declining 11.7 Per Cent in 2014 Due to Political Uncertainties

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Frost & Sullivan Sees Vehicle Sales inFrost & Sullivan Sees Vehicle Sales in Thailand Declining 11.7 Per Cent in 2014 Due to Political Uncertainties PR Newswire BANGKOK, March 5, 2014 Total vehicle sales in Thailand is expected to dip 11.7 per cent year-on-year to 1.175 million units in 2014 due to the current political turmoil and post- election uncertainties, says Frost & Sullivan. Mr. Dushyant Sinha, Associate Director, Automotive Practice, Asia Pacific at Frost & Sullivan said that weak economic growth and slowing demand will also shrink the automotive market in 2014. He added that the after effects of the first car buyer program launched by the Thai Government will also hit vehicle sales growth. "There will be dwindling current demand as buyers brought forward sales to take advantage of the incentives," Mr. Sinha said. He added that foreign automakers, looking for fresh investments, are also likely to adopt a wait-and-see approach due to the political turmoil and the uncertain new automotive regulations and policies. He also said that weak consumer sentiment is also likely to add to the decline in vehicle sales growth. He noted that the Thai consumer confidence index (CCI) has plummeted for the last 10 consecutive months to its lowest in 26 months at 61.4. "The political crisis is likely to further weaken consumer confidence," he said. However, Mr.

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• Published by: frost-sullivan
• Published: 05 March 2014
• Reads: 2
• Language: English

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Frost & Sullivan Sees Vehicle Sales in Thailand Declining 11.7 Per Cent in 2014 Due to Political Uncertainties

PR Newswire

BANGKOK, March 5, 2014

Total vehicle sales in Thailand is expected to dip 11.7 per cent year-on-year to 1.175 million units in 2014 due to the current political turmoil and post-election uncertainties, says Frost & Sullivan.

Mr. Dushyant Sinha, Associate Director, Automotive Practice, Asia Pacific at Frost & Sullivan said that weak economic growth and slowing demand will also shrink the automotive market in 2014.

He added that the after effects of the first car buyer program launched by the Thai Government will also hit vehicle sales growth. "There will be dwindling current demand as buyers brought forward sales to take advantage of the incentives," Mr. Sinha said.