Vehicle market summary： Thailand first half 2013
Vehicle sales rises 20% to 741,000 units in the first half of 2013; momentum maintained in the first quarter but stalled in the second
The vehicle sales in Thailand in the first half of 2013 (January to June) increased 22.1% year over year to 741,000 units. The increase was ascribable mainly to the balancing orders on hand after the first time car buyer’s incentive programme were ended at the end of 2012. These orders sharply pushed the first quarter sales (January to March) up by 47.9%. On the other hand, the sales in the second quarter (April to June) only marked a 0.1% increase to 328,000 units. A monthly comparison shows a brisk sales momentum was maintained in April but the sales plunged in May by 3.5% from the same month a year earlier as the balancing orders from the purchase incentive were entertained. As a result, the result for May marked the first year-over-year decline in 17 months (see Figure 2). The decline even grew larger in June at 14.2% which suggests the rapid market expansion that started in the previous year is decelerating.
Related Report: Japanese Suppliers in Thailand (Apr. 2013)
A notable increase seen with passenger cars among different vehicle categories, with Honda among...
A vehicle category-based analysis of auto sales in the first half of 2013 shows the tailwind effect of increased demand for eco-cars applicable for commodity tax exemption. As a result, the passenger car sales increased by 36.7% year over year to 352,000 units. The ratio of passenger cars in the entire market rose to 47.5% leaving 1-ton pickup trucks (44.0%) behind (see Table 1).
Among the top 10 brands in terms of sales, Toyota (1st), Chevrolet (6th) and Mazda (7th) marked year-over-year losses from the previous year while seven other manufacturers registered an increase in sales (see Figure 4). The most notable was Honda that registered a 2.7-fold increase as its broad range of small-size cars including City, Jazz, Civic and Brio efficiently absorbed the growing demand for passenger cars in the local market. As a result, Honda rose to second position in share leaving Isuzu behind. Suzuki (9th) registered a 3.1-fold increase reflecting the popular market acceptance of the eco-car approved Swift whose production started at Rayong plant in March 2012.
A full-year outlook for 2013 indicates 1.3 million units in sales along with a significant year-over-year decline due to the stalled sales in the second half of the year
Toyota Motor Thailand Co., Ltd. (TMT) has published a full-year market forecast for 2013 in which sales of 1.3 million vehicles is anticipated as of July. The market is likely to remain sluggish during the second half of the year after almost all balancing orders from the purchase incentive beneficiaries are delivered. This is likely to lead to a decline from the remarkable 80% growth in 2012 (1,436,000 units). When compared to the market scale in 2008 to 2011 (600,000 to 800,000 units), however, the full-year forecast for 2013 is still 1.6- to 2.2-folds more and will mark the second highest yearly result after 2012.
(Table 1)：Thailand Vehicle Sales by Vehicle Type
|Vehicle Type||Q2 2012|
|(incl. 1-Ton Pickup)||149,420||149,665||0.2%||45.7%||305,293||326,195||6.8%||44.0%|
(Table 2)：Thailand Vehicle Sales by Brand
(Table 3)： Thailand Top 10 Selling Models (First half 2013)