Thai CV market grows by 9% in Q2 and 17% in the first half of 2022
By Will Pulson - 11th October 2022
Thailand - The Thai market for commercial vehicles over two tons gvw continued to recover in the second quarter of 2022, by almost 9% to 102,640 units after rebounding by 34% to 94,255 units in the same period of last year, according to analysis of industry wholesale data from various industry sources including some estimates.
Thailand's economy grew for the third straight quarter in the second quarter of 2022, with GDP expanding by 2.5% year-on-year after growing by 2.3% in the previous quarter. Private consumption increased by 6.9% year-on-year, up from 3.5% in the first quarter, reflecting a strong rebound in the country’s tourism sector after travel regulations were relaxed. Government spending growth slowed to 2.4% from 7.2% in the previous quarter, reflecting lower post-Covid healthcare costs, while fixed investment shrank by 1.0% after growing by 0.8%.
