“Vehicle sales in 2007 totalled 631 250 units, down 7.5 per cent year on year from the previous year due mainly to the 9 per cent contraction in pick-up trucks and 11.3 per cent drop in passenger cars.
Tri Petch Isuzu Sales, which compiled the data, attributed the drop to high energy prices, higher inflation, more stringent hire-purchase loan conditions, as well as political uncertainties.” (Nation)
We will have the details (passenger cars and commercial cars) at the end of january, with datas for december provided by the BOT, with tables 71.1 and 71.2. I will update all the charts.
It’s just another sign that private consumption and investment (as components of GDP) remain weak.
The crisis is there. And, again, only fools can pretend that in 2008 thai people and thai businesses will buy vehicles like crazy, thanks to the blue sky, the marvellous elections, the huge increase of incomes, the amazing new government we are going to have, and of course the gasoline at such a bargain price…
Wake up people, wake up.
It would not be all bad news if the less vehicle sales translated to less vehicles on the roads.