November 20, 2019 / 3:04 AM / 25 days ago

Thai Oct domestic car sales drop 11.3% y/y - industries federation

BANGKOK, Nov 20 (Reuters) -

* Domestic car sales in Thailand dropped for a fifth straight month in October, down 11.3% from a year earlier to 77,121 units, the Federation of Thai Industries said on Wednesday.

* Sales contracted due to stricter lending by banks and flooding in many areas of the country.

* Domestic car sales in 2019 are forecast to fall 3.8% to 1 million units, compared with last year’s 19.5% rise to 1.05 million units - the highest level in five years.

* Thailand is a regional vehicle production and export base for the world’s top automobile manufacturers. (Reporting by Kitiphong Thaichareon; Writing by Satawasin Staporncharnchai; editing by Uttaresh.V)

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