Market Snapshot: Thailand Auto Market
Calendar-year 2016 was one of the toughest years for the automotive industry in Thailand. Despite the Thai government’s support to help stimulate economic growth, factors such as the decision to restructure excise taxes placed on new cars late last year had a negative impact on consumer’s purchasing power, according to Toyota Motor Thailand.
Market outlook for sales of the Thai automotive industry is positive, due to the end of the period of the first-car scheme, expectations of increase in government expenditure, as well as the introduction of a wide-range of new products by many automakers. Therefore, an overall sales level of 800,000 units, representing a 4.1% rise is expected.