Stimulus unlikely to boost September car sales, says Toyota VP

Vudhigorn Suriyachantananont, senior vice president of Toyota Motor Thailand, said such measures would not boost car sales given economic uncertainties at home and overseas.

"Such stimulus measures are expected to boost confidence among investors and consumers. However, given lingering concerns about global and domestic economic conditions, the domestic market should remain unchanged," he said.

According to data compiled by Toyota Motor Thailand, 61,991 vehicles were sold in August, a 9.9-per-cent decrease from the same month last year. The drop was attributed to a 24-per-cent decline in passenger-car sales. However, commercial-vehicle sales rose by 0.9 per cent, the first increase in 28 months, thanks to the launch of new models.

Financial institutions reportedly remained careful in extending car loans, while consumers are still tightening their belts.

The number of vehicles sold in the first eight months of this year was down by 15.1 per cent from the same period last year, to 491,963 units.

The passenger-car segment showed a 21.2-per-cent drop in the same period while the commercial-vehicle segment posted a 10.7-per-cent decrease.

In August, automobile exports jumped by nearly 14 per cent year on year, with the shipping of 101,982 vehicles.