October 18, 2019 / 3:45 AM / 2 months ago

Thai Sept domestic car sales drop 14.1% y/y - industries federation

BANGKOK, Oct 18 (Reuters) -

* Domestic car sales in Thailand dropped in September for a fourth straight month, down 14.1% from a year earlier to 76,195 units, the Federation of Thai Industries said on Friday.

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

* Sales contracted in September due to banks’ stricter lending and floods in many areas of the country.

* Domestic car sales in 2019 are now forecast to be 1 million units from 1.05 million units projected earlier. Last year, sales jumped 19.5% to 1.04 million units - the highest level in five 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 Sherry Jacob-Phillips)

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