August 22, 2019 / 3:42 AM / a month ago

Thai July domestic car sales fall 1.1% y/y - industries federation

BANGKOK, Aug 22 (Reuters) -

* Thai domestic car sales contracted in July for a second straight month, down 1.1% from a year earlier to 81,044 units, the Federation of Thai Industries said on Thursday.

* In June, sales dropped 2.1% on-year, the first contraction in two and a half years.

* July’s sales were dragged by financial institutions’ stricter lending.

* Domestic sales in 2019 are forecast to rise 2.44% to 1.05 million cars, after last year’s 19.5% increase to 1.04 million units - the highest level in 5 years.

* 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 Richard Borsuk)

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