Domestic sales of commercial cars and pickups slowed in May based on a variety of factors, ranging from stricter lending standards and weak purchasing power to political uncertainty, says Toyota Motor Thailand.
The trend will likely continue in June as banks maintain tougher criteria for granting loans, attributed to the high rate of household debt and a fragile economy that will take time to normalise, said the company.
Commercial car sales in May decreased by 12.4% year-on-year to 39,103 cars, while pickup sales fell 19.2% to 27,323 units.
“Banks and non-banks are…
