January 22, 2020 / 3:31 AM / a month ago

Thai Dec domestic car sales slump 21.4% y/y - industries federation

BANGKOK, Jan 22 (Reuters) - Domestic car sales in Thailand contracted for a seventh straight month in December, sliding 21.4% from a year earlier to 89,285 vehicles, hit by tougher lending by banks, the Federation of Thai Industries said on Wednesday.

Sales in November had declined 16.2% from a year earlier.

In 2019, domestic car sales dropped 3.3% to 1 million units, after a surge of 19.5% in the previous year.

Thailand is a regional vehicle production and export base for the world’s top automobile manufacturers. (Reporting by Satawasin Staporncharnchai; Writing by Orathai Sriring; Editing by Clarence Fernandez Editing by xxxx)

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