Market corrections sees CV sales in Thailand fall by 22% in Q3
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By Will Pulson - 17th January 2024
Thailand - The Thai market for commercial vehicles over 2 tons gvw fell by 22% to 82,386 units in the third quarter of 2023 from 105,808 units in the same period of last year, based on data from various industry sources.
The sharp market decline followed a strong bounce a year earlier from the pandemic lows, while economic growth has also been sluggish this year after last year’s strong rebound. GDP growth slowed further to 1.5% in the third quarter from 1.8% in the second quarter and 2.6% in the first quarter, with growth in the first nine months of the year estimated at just below 2%.
