Thai car sales soar

More new cars are hitting Bangkok's streets

Thailand's car sales rose 35.6% during the first six months of the year, and the good times are set to continue, according to the latest industry figures.

Low interest rates have enabled consumers to cheer a return to economic growth in the country by heading for the car showrooms, according to Toyota Motor Thailand which compiles industry on behalf of the country's car industry.

The car market "has maintained steady growth in every segment for the past six months and also promises continued momentum in the future", Toyota said.

Almost a quarter of a million cars were sold during the first half of 2003.

This, said Toyota, "reveals consistent economic growth and consumer confidence in purchasing high involvement products such as vehicles".

Strong car sales so far has led the industry to raise its forecast for the year as a whole.

It now expects sales to reach 500,000 units by year-end, up from a previous estimate of 470,000.

If their prediction proves right, it will be the first time car sales in Thailand tops half a million since the 1997 economic crisis crippled Asia.