Total automotive sales reached approximately 97,000 units, with both industry giants Toyota and Isuzu, alongside electric vehicle maker BYD, experiencing notable declines.

Thailand's cabinet on December 11 approved debt support measures, including interest suspensions and reduced principal payments, to help tackle household debt, Prime Minister Paetongtarn Shinawatra said.

Thailand’s annual vehicle production is projected to hit 1.5 million units this year, marking the lowest output since 2021, according to the Federation of Thai Industries (FTI).

Thai businesses are pressing the central bank to take measures to stabilise the domestic currency (baht), which has rapidly gained strength and could impact fourth-quarter growth.

Thailand has kicked off a debt suspension and relief programme for small and medium-sized enterprises (SMEs) as part of the government's commitment to address the problem.

Thailand will give priority to tackle informal debt to revive the economy, Prime Minister and Finance Minister Srettha Thavisin said at a press conference on November 28.

Average household debt in Thailand has reached a 15-year high due to a slower-than-expected economic recovery and high living costs, amid uncertainty over the formation of a new government, a survey showed.

Thailand's economy remains stable and is projected to continue growing for the rest of 2023, according to the country’s National Economic and Social Development Council (NESDC).

Thailand's household debt rose to 14.13 trillion THB or 90.5 percent of GDP in the first quarter, hitting the highest level in 18 years, reported the Kasikorn Research Center (K-Research).

Thailand’s Monetary Policy Committee (MPC) has reduced its economic growth forecast for the country from 3.3 percent to 2.8 percent in 2019 and from 3.7 percent to 3.3 percent in the next year.