Thai sales fall 25% in August [Yahoo! Finance]
ISUZU MOTORS UNSP/ADR (ISUZY)
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Source: Yahoo! Finance
units from 60,234 units units a year earlier according to the latest wholesale data released by the Federation of Thai Industries (FTI). Last month's decline followed similar drops in previous months, despite a pick-up in economic activity in the country in the second quarter when GDP growth accelerated to 2.3% year on year from 1.6% in the first quarter. This was mainly due to stronger exports, however, while private consumption growth slowed to 4.0% from 6.9% reflecting weakening consumer sentiment. The vehicle market has been in sharp decline for well over a year after an initial rebound from the Covid pandemic lows, with sales falling by 9% to 775,780 units in 2023. Vehicle financing companies have tightened lending criteria amid rising non performing loans, resulting in rising numbers of loan rejections while many owners have delayed their vehicle replacements. Thailand is now south-east Asia's third largest vehicle market after Indonesia and Malaysia with sales falling by
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