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Thailand’s new-car sales climb 15% in April

Thailand saw the biggest jump, as the region’s second-largest auto market logged a 15% overall increase

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New-car sales in Southeast Asia rose 4% to 256,647 units in April for a sixth consecutive month of year-on-year increases, despite a slower pace of gains than in February and March.

Thailand saw the biggest jump, as the region’s second-largest auto market logged a 15% overall increase aided by a 23% boost in passenger-car sales.

The country continued its recovery, achieving a fourth straight month of double-digit growth. Automakers such as market leader Toyota Motor and fourth-ranked Mitsubishi Motors bolstered their market shares.

Sales rose 6% in Indonesia, Southeast Asia’s largest market, but fell in Vietnam and Singapore.

Malaysian sales inched up just 1%. Car production declined in April, possibly suggesting that automakers are growing skeptical of sales prospects in the country.

Zhejiang Geely Holding Group, the parent of major Chinese automaker Geely, plans to invest in ailing Malaysian car maker Proton Holdings.

Southeast Asian new-car sales soared 14% for both February and March. Japanese automakers account for 80% of the region’s market share.

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Business

Thailand aims to push its games and content industry

After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.

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Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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