Thai automotive industry slumps in 2014
Suffers double-digit declines in both domestic sales and production as ongoing economic and political uncertainty weigh down on sentiment.
New vehicle sales in Thailand fell 21.4% year on year (y/y) in December to 89,504 units, according to data released by the Thai Automotive Institute (TAI). Vehicle production also remained under pressure, falling by 3.3% y/y to 153,669 units, although exports of completely built-up (CBU) units gained 1.4% y/y to 89,146 units during the month. Full-year sales plunged 33.7% y/y to 881,832 units, while total vehicle production stood at 1,880,007 units, down 23.5% y/y. CBU exports remained flat at 1,128,102 units during 2014.
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