CV market demand in Thailand tumbles 22% in Q2
By Will Pulson - 17th October 2024
Thailand - The Thai market for commercial vehicles over 2 tons gvw is estimated to have plunged by a further 22% year-on-year to 50,516 units in the second quarter of 2024, having fallen by close to 37% to 64,567 units in the same period of last year, according to analysis of industry wholesale data from various industry sources including some estimates.
The continued sharp decline in the commercial vehicle market came despite a moderate pick-up in economic activity in the second quarter, with GDP expanding by 2.3% year-on-year from 1.6% in the first quarter - driven mainly by stronger export activity and resulting in first-half GDP growth of 1.9%.
