Meanwhile, financial institutions are concerned about the increasing debt, leading to hesitation in buying among consumers amid doubts about their loan repayment abilities. The commercial vehicles market, which plays a significant role in driving the Thai economy, has been particularly affected by this trend. According to the vice chairman of the Federation of Thai Industries (FTI), vehicle sales in May reached 65,088 units, only a 0.5% increase year on year (YoY). The passenger car market, meanwhile, expanded at a higher rate, with sales of 25,985 units, representing a growth of 29.4% YoY. Sales of commercial vehicles totalled 39,103 units, down 12.4% YoY, while sales of one-ton pickup trucks saw a steeper YoY decline by 19.2%, with sales of 27,323 units. The passenger cars market, particularly eco-cars, showed a positive growth rate as consumers prefer private transportation following the Covid-19 pandemic. (ICE BANGKOK)

Fonte notizia: The Nation