March Domestic Auto Sales Highest in History
BANGKOK – According to the Federation of Thai Industries (FTI), Thailand saw a new record of domestic car sales in March, totaling almost 157,000 units, while the number of exported vehicles also exceeded 100,000 units for the first time.
The FTI’s Automotive Industry Club issued a statement, saying domestic car sales remained robust in March, reaching 156,951 cars, the highest ever recorded. The phenomenon is believed to have been driven by the first-car buyer program. Out of all the cars sold in March, nearly 50,000 belong to first-time buyers and are entitled to tax rebates from the government.
Car exports in March also surpassed the 100,000 unit-mark for the first time since 1988, registering at 102,742 cars.
Thailand’s vehicle output over the first three months of the year totaled 325,888 units, up 132% from the same period last year. Up to 256,231 units were produced in March alone.
The agency said this year’s total auto production is projected at 2.55 million units but the figure is expected to be revised up due to increasing demand.