ID :
176477
Tue, 04/19/2011 - 14:16
Auther :
Shortlink :
http://m.oananews.org//node/176477
The shortlink copeid
Thailand's auto sales likely to grow 6-12% this year
BANGKOK, April 19 (TNA) - The total amount of vehicle sales in Thailand this year is expected to reach up to 900,000 units, or a 6-12 per cent year-on-year growth, despite sluggish business in the second quarter, stemming from Japan's devastating earthquake and tsunami on March 11.
Issara Wongrung, Managing Director of Kasikorn Leasing Co. Ltd., made the projection on Tuesday, saying he believed that the Thai automobile market should return to normal and then rise in volumes after July 2011 in the wake its second-quarter downturn, which occurred due to a shortage of automobile parts as Japanese suppliers deferred shipments to automobile manufacturers in Thailand.
Issara pointed out that vehicle sales in Thailand totalled 145,611 units for the first two months of this year, a 40.37 per cent surge from the corresponding period last year.
Issara further acknowledged that an upward trend of local interest rates should not affect people's decision on purchasing their new cars, as their monthly repayment of their auto loan would be raised by only about 100 baht if domestic interest rates increased by the expected 0.25 to 3 per cent, from the current 2.45 per cent.
The private executive warned, however, that if the Thai government floated domestic diesel prices in line with the market mechanism in place after the upcoming general election in mid 2011, the increased fuel prices would definitely affect the country's vehicle sales. (TNA)
Issara Wongrung, Managing Director of Kasikorn Leasing Co. Ltd., made the projection on Tuesday, saying he believed that the Thai automobile market should return to normal and then rise in volumes after July 2011 in the wake its second-quarter downturn, which occurred due to a shortage of automobile parts as Japanese suppliers deferred shipments to automobile manufacturers in Thailand.
Issara pointed out that vehicle sales in Thailand totalled 145,611 units for the first two months of this year, a 40.37 per cent surge from the corresponding period last year.
Issara further acknowledged that an upward trend of local interest rates should not affect people's decision on purchasing their new cars, as their monthly repayment of their auto loan would be raised by only about 100 baht if domestic interest rates increased by the expected 0.25 to 3 per cent, from the current 2.45 per cent.
The private executive warned, however, that if the Thai government floated domestic diesel prices in line with the market mechanism in place after the upcoming general election in mid 2011, the increased fuel prices would definitely affect the country's vehicle sales. (TNA)
