Reported 27 days ago
In February 2025, Thailand's new vehicle market witnessed a 7% decline in sales, dropping to 49,313 units, continuing the trend from January's 12% decrease. Factors contributing to this downturn include stricter lending criteria from banks and a significant auto loan rejection rate of 70%. Despite ongoing economic growth, vehicle sales have decreased by 10% in the first two months compared to the same period in 2024. To support the struggling vehicle market, the Thai government plans to introduce a THB5 billion loan guarantee program for small businesses purchasing pickup trucks.
Source: YAHOO