Flooding stalls purchase of new cars
published : 27 Sep 2022 at 04:19
newspaper section: Business
writer: Lamonphet Apisitniran
Toyota Motor Thailand expects flooding in many areas nationwide will cause a delay in the purchase of new cars until the rainy season comes to an end later in the year.
The company is aware that rainfall usually leads to a low season in terms of domestic car sales but it is optimistic the market will become more active during the cold season, said Surasak Suthongwan, vice-president of Toyota Motor Thailand.
Thailand is currently facing torrential rain, with inundations reported in many low-lying areas.
"We believe car sales in the country will grow this year, thanks to the launch of new models and marketing campaigns to attract buyers," he said.
Toyota expects domestic car sales to grow in September as manufacturers will deliver cars to their customers who ordered vehicles during the Big Motor Sale event, which was held between Aug 19-28.
The company also believes the economy will continue to recover, driven by the tourism industry, following the reopening of the country.
In August, domestic car sales increased by 61.7% year-on-year, according to Toyota.
The company was ranked first for the highest sales during this month, with sales volume soaring by 88.9% year-on-year to 23,356 units, enabling Toyota to command a market share of 34.2%.
Isuzu was in second place, with sales increasing by 43.7% year-on-year to 15,858 units and its market share standing at 23.2%.
Honda was ranked third, with sales rising by 32.3% year-on-year to 7,071 units and a market share of 10.4%.
From January to August, domestic car sales increased by 19.6% year-on-year to 559,537 units, according to Toyota.
The company was again ranked first for its car sales during the eight-month period, with sales increasing by 26.7% year-on-year to 185,665 units and a market share of 33.2%.
Isuzu also saw its sales increase by 20.5% to 142,029 units with a market share of 25.4%.
However, Honda's sales decreased by 1.0% to 54,488 units, with a market share of 9.7%.