March 19, 2020 / 6:37 AM / in 17 days

Thai Feb domestic car sales plummet 17.1% y/y - industries federation

BANGKOK, March 19 (Reuters) - Domestic car sales in Thailand shrank for the ninth straight month in February, tumbling 17.1% from a year earlier to 68,271 vehicles, hit by tougher lending by banks and the coronavirus outbreak, the Federation of Thai Industries said on Thursday.

Sales in January slumped 8.2% from a year earlier.

The FTI also cut its forecast for 2020 domestic sales by 50,000 cars to 950,000 vehicles.

In 2019, car sales contracted 3.3% to 1 million units.

Thailand is a regional vehicle production and export base for the world’s top automobile manufacturers. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Shri Navaratnam)

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