Business News
Thailand's domestic vehicle sales up 35 per cent
Sep 22, 2011, 5:13 GMT
Bangkok - Thailand's domestic sales of vehicles in August rose 35 per cent year-on-year, but exports in the same month slumped 8.6 per cent, industry sources said Thursday.
Last month's domestic sales of new vehicles amounted to 79,700 units, up 35 per cent, while exports reached 73,480 units, down 8.6 per cent year-on-year, Thailand's Auto Industry Club said.
During the first eight months of 2011, the kingdom exported 565,903 vehicles, down 4.5 per cent compared with the same period last year as the local manufacturing industry suffered from a shortfall of parts and components from Japan because of the March 11 earthquake and tsunami disasters, industry sources said.
Domestic sales in the same period amounted to 545,120 units, up 17.4 per cent.
The Auto Industry Club has set a production target of 1.8 million vehicles this year.
Thailand's new government has initiated a policy of granting tax rebates to first-time buyers of small or eco-cars with an engine capacity of 1.5-litres or less.
The policy is expected to boost domestic sales of small cars and add to Bangkok's traffic congestion.
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