Domestic auto sales jumped 54.5% YoY in January

Toyota Motor (Thailand) reported domestic auto sales of 49.6K in January, up a record 54.5% YoY, but down 31.2% MoM. The YoY improvement was supported by a positive industry backdrop boosting consumer spending, such as local economic recovery, improved consumer confidence and low base in 2009. Domestic auto sales dropped MoM from December due to seasonality, as December’s auto sales are typically high because of the Motor Expo (there were 72.1K automobiles sold in December, including 25K automobile orders placed at the Motor Expo).