Thailand CV market falls by a third in Q4


By Will Pulson - 17th April 2024

Thailand - The Thai commercial vehicle market over 2 tons gvw plunged by 37% to 68,295 units in the fourth-quarter of 2023 from 108,498 units a year earlier, according to data from industry sources and some estimates.

The Thai economy remained sluggish in the fourth quarter of 2023, albeit with moderately stronger growth of 1.7% year-on-year compared with 1.4% in the third quarter. Economic activity was underpinned by strong private consumption, which moderated slightly to 7.4% from 7.9% in the third quarter, and by a 4.9% increase in exports compared with 1.1% previously. This was offset by 0.4% decline in fixed investment after a 1.5% increase in the third quarter, while government spending fell by 3.0% after a previous decline of 3.5%.

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