LONDON, May 14, 2015 /PRNewswire/ -- This study gives an overview of the automotive market outlook for Thailand in 2014 and 2015. The study discusses in detail the 2014 outlook of the Thailand automotive market and also offers the forecasts for the market in 2015. It also discusses the automotive market growth factors for 2015-2020. The study includes executive summary discussing the key findings, 2014 automotive market outlook outlining the major developments in 2014, the impact of ASEAN Economic Community, free trade agreements, and excise tax restructuring, 2015 automotive market outlook, key automotive market growth factors 2015-2020, key conclusions, and future outlook.
Total industry volumes in Thailand shrank by a whopping % in 2014, closing at units.
Key market factors such as cascading effects of political volatility, global uncertainty, and underperforming economy worked in tandem to reduce demand.
Though there were depressed sales volumes throughout 2014, there were signs of recovery in November and December as consumer sentiment improved.
A declining total industry volume (TIV) in Thailand and Indonesia brought down regional sales by% to million units, even though Malaysia and the other ASEAN markets showed positive growth in 2014.
Though Indonesia became the largest automotive market in ASEAN, Thailand continued to be the largest automotive manufacturer in the region.
Implementation of ASEAN Economic Community and the restructuring of excise tax are expected to have a large impact on the automotive market demand in Thailand.
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