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8 Apr 2023


Despite surging car bookings at 2023 Bangkok International Motor Show, annual car sales may rest with the recovery in purchasing power (Current Issue No.3400)


        Car bookings at the 2023 Bangkok International Motor Show are higher than the previous years, following the easing of COVID-19. However, we at KResearch view that the overall car sales in 2023 may be affected by several factors:
(1) The relatively low bookings of internal combustion engine (ICE) vehicles, which typically see most bookings made at the Bangkok International Motor Show.
(2) Mixed signals seen in luxury car bookings due probably to the timing of the introduction of new car models before and after the 2023 Bangkok International Motor Show and the fact that some buyers have booked BEVs of carmakers that did not participate in the show instead.
(3) Most car bookings for leading brands were seen in low-cost vehicles, reflecting that consumer purchasing power has yet to recover amid elevated economic uncertainty.