Motorbike sales fall as banks cut back on lending

Quick Summary:

Thailand's motorcycle manufacturing and sales are declining this year as the economy falters, attributed to high household debt and weak consumer purchasing power, says the Federation of Thai Industries (FTI).

High household debt caused banks to tighten the criteria for car loans, which affects car and motorcycle sales in the country.

"These problems, together with a delay in state budget spending earlier this year, dealt a blow to the economy," said Mr Surapong.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Club Year-on-year Motorcycle Household Surapong Sales Economy Debt Manufacturing Year Units

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 09:28:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 340 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21399043

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 5 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 12 hours ago

Coverage Areas: Thailand

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Publisher ID: #66

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