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.

The Thai market for commercial vehicles over 2 tons gvw fell by 22% to 82,386 units in the third quarter of 2023.

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.

The Thai market for commercial vehicles over 2 tons gvw plunged by over 34% to an estimated 94,255 units in the second quarter of 2021 from 70,151 units in the same period of last year.