Thai CV market expands strongly in Q4 to drive year end volume sales 18.7% higher
By Jim Gibbins - 1st March 2019
Thailand - The Thai commercial vehicle market over 2 tons gvw continued to expand strongly in the fourth quarter (Q4) of 2018, by over 23% to 165,141 units from 134,122 units in the same period of the previous year, according to data compiled by AsiaMotorBusiness.com from various industry sources.
The continued strong demand for commercial vehicles reflects buoyant economic activity in the country, with GDP growth accelerating to 3.7% year-on-year in Q4 of 2018 from a revised 3.2% in Q3. This was driven by strong private consumption and investment growth, while exports also turned positive after declining in Q3. Full-year GDP growth averaged 4.1%, slightly better than the 4.0% recorded in 2017.
