Auto sales in Thailand in March 2013 rose 42% year-on-year (y-o-y), to hit 157,527 units, according to Toyota Motor Thailand. Sales for the first three months of 2013 came in at 413,254 units, up 48.8 y-o-y. Although sales continue to power to new highs, it is largely due to the fulfilment of deliveries under the first-car scheme, which ended last year. BMI believes that the spill over of 2012′s pre-orders into 2013 is artificially inflating the true demand in the economy, which is expected to be weaker owing to the withdrawal of the first car scheme. We are still calling …
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