The decline in domestic car sales is having a broad impact on the automotive industry, even dampening the premium car segment, which typically resists downturns in consumer spending, according to Mercedes-Benz (Thailand).
Sluggish car sales in Thailand led to an 11-12% decrease in premium-grade steel sales during the first four months of 2024, underscoring worries concerning reduced steel consumption in the country this year, says the Federation of Thai Industries (FTI).
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