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Thailand Article |
Economic reality bites into sales
Higher fuel prices and stiff competition have sent the sales of high-end auto mobiles in Thailand down across the board this year, says Karl-Heinz Heckhausen, the president of DaimlerChrysler (Thailand) Co.
Sales of luxury brands in the first 10 months of this year dropped almost 26% to 7,578 units from 10,179 units in the same period last year. Even sales of the market leader, Mercedes-Benz, have contracted by 17% to 3,727 units, according to the latest industry data.
Other brands such as BMW, Lexus, Audi, Porsche, Jaguar,Volkswagen, Volvo, Ford, Chevrolet and Alfa Romeo also recorded sales declines. But Mercedes-Benz retained its position as the leader in the luxury car market with a 49% share. Chatvithai Tantraporn, DaimlerChrysler's corporate general manager for communications, said the sluggish sales were also due to weakening consumer confidence in the economy, prompting prospective customers to put more money into savings.
Aside from luxury brands, sales were not good for the passenger car market in general with the total number of units sold contracting for the first time since 1998, at a rate of 7% to 10,963 units. However, on the positive side, sales of pickup trucks and sport utility vehicles (SUVs) expanded.
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