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ATSUSHI TOMIYAMA, APORNRATH PHOONPHONGPHIPHAT and NANA SHIBATA, Nikkei staff writers

November 15, 2024 11:28 JST

TOKYO/BANGKOK/JAKARTA -- Thailand's auto sales fell sharply in the July to September quarter, bucking the regional trend where the four other major markets all recorded increased quarter-on-quarter growth.

Analysts say the slumping Thai market, which fell 28% on an annual basis and and 9.5% quarter on quarter, is being driven by the country's longstanding problem of high household debt that has squeezed auto loans in the country.