Strict loan rules weigh on vehicle sales

Quick Summary:

We have turned negative on Thailand's vehicle sales for 2024 after recording weaker-than-expected sales results for the first four months of the year, and showing little potential for a rebound over the second half of 2024 due to debt pressure.

However, we still expect growth in EV sales for 2024 as the continued drop in prices and increased local production will sustain EV sales growth.

Another factor negatively impacting demand for new vehicles is slowing economic growth.GDP growth slowed to 1.5% in the first quarter year-on-year from a 1.7% expansion in economic activity in the fourth quarter of 2023.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Sales 2023 First Forecast Economic Growth Thailand Four 2024 Months Vehicle

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-11 @ 06:11:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 659 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 27 words per sentence (average)

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

Copyright Owner: © Bangkok Post

News ID: 21570139

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Year Established: 1946

Headquarters: Thailand

News Last Updated: 1 days ago

Coverage Areas: Thailand

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #66

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