CV sales in Thailand fall sharply in Q1
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By Will Pulson - 27th June 2023
Thailand - The Thai commercial vehicle market over 2 tons gvw is estimated to have shrunk by almost 21% to 93,107 units in the first quarter of 2023 after rebounding by over 24% to 117,327 units from the Covid lows a year earlier, according to data compiled from several industry sources, including TAIA.
The market continued to decline despite a pick-up in economic growth to 2.7% year-on-year in the first quarter after slowing to 1.4% in the fourth quarter of last year. Campaign spending in the run up to May’s general election also failed to support the market, reflecting significant political uncertainty in the country.
