December 18, 2019 / 3:42 AM / a month ago

Thai Nov domestic car sales slump 16.2% y/y - industries federation

BANGKOK, Dec 18 (Reuters) - Domestic car sales in Thailand contracted for a sixth straight month in November, slumping 16.2% from a year earlier to 79,299 vehicles, hit by stricter lending by banks, the Federation of Thai Industries said on Wednesday.

In October, sales were down 11.3% from a year earlier.

Domestic car sales in 2019 are forecast to drop 3.8% to 1 million vehicles, compared with last year’s 19.5% rise to 1.05 million - 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 Muralikumar Anantharaman)

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