September 17, 2019 / 3:17 AM / 2 months ago

Thai Aug domestic car sales drop 6.9% y/y - industries federation

BANGKOK, Sept 17 (Reuters) -

* Thai domestic car sales contracted in August for a third straight month, down 6.9% from a year earlier to 80,838 units, the Federation of Thai Industries said on Tuesday.

* Sales dropped in June for the first time in two and a half years due to banks’ stricter lending.

* Domestic sales in 2019 are forecast to rise 2.44% to 1.05 million cars, after last year’s 19.5% increase to 1.04 million units - the highest level in 5 years.

* Thailand is a regional vehicle production and export base for the world’s top automobile manufacturers. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Himani Sarkar)

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