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||16 March 2010
Thai car sales climb almost 60% in February
Vehicle sales in Thailand were up 57.7 percent year-on-year in February, boosted by the introduction of new models and rising revenue in the agricultural sector, AFP the industry sources as saying Monday.
A total of 54,175 units were sold in February, representing the biggest increase in more than seven years, and the sixth consecutive month of gains for the sector. The rise was equal across both commercial and passenger vehicle sales. "
Auto sales in March are expected to continue to grow despite political demonstrations, which could erode consumer confidence," Toyota Motor Thailand said in its monthly release on behalf of the industry.
"But the introduction of new models and a motor show exhibition in late March will boost sales," the statement said. Thailand has been wracked by months of political protests, and supporters of ousted premier Thaksin Shinawatra are currently massing on the streets to demand the Democrat-led government resign. Rising revenues from rubber and rice commodities in Thailand have boosted purchases, the company said.
Thailand is the world's top exporter of rice, rubber and sugar, and any boost to the agricultural sector is often reflected in vehicle demand by the country's largely rural population. Toyota said Thailand's car market in 2010 is expected to grow nine percent, to annual sales of 600,000 units, up from 548,871 units in 2009.
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