Thailand’s CV market hits reverse in Q3
By Will Pulson - 1st December 2021
Thailand - The Thai market for commercial vehicles over 2 tons gvw declined by over 24% to 81,585 units in the third quarter of 2021 from an already weak 65,795 units in the same period of last year, based on data derived from various industry sources, wiping out the strong rebound seen in the second quarter.
The country suffered its worst wave of infections in the third quarter since the COVID-19 pandemic began early last year, forcing the government to introduce social and business restrictions in mid-July which it only began to ease in September. GDP shrank by 0.3% year-on-year in the third quarter after rebounding by 7.6% in the second quarter, with private consumption dropping by 3.2% after increasing by 4.8%, while fixed investment fell by 0.4% after growth of 7.6%. Government spending growth accelerated to 2.5% from 1.0%, however.