According to data compiled by Toyota Motor Thailand, car and truck sales in Thailand rose 17.2 percent in February.
Of the total, passenger cars accounted for 31, 170 units, down 4 per cent on year, as Honda – the biggest passenger carmaker in Thailand – had not yet resumed operations. Honda announced earlier that the flood-damaged plant in Ayutthaya will recommence operations on March 26.
In the luxury segment, BMW lead the market with 28 units, followed by Mercedes-Benz, which sold 25 units in February. Lexus maintained its third place position with 19 units sold, leaving Audi four units shy of third place.
Thailand is the biggest car market in Southeast Asia and a regional vehicle production and export base.
Despite emerging potential competitors in the region, Thailand will remain as the largest automotive hub in Southeast Asia, said Hajime Yamamoto, the Thailand director of IHS Automotive, an automotive market forecasting company based in Detroit.
Thailand has the largest number of Japanese automotive parts suppliers investing in Thailand, or about 500, comparing with 160 in Indonesia, the second largest in the region.