22-6-2023 (BANGKOK) Thailand’s automobile exports showed a continued expansion in May, driven by last year’s low comparative base and higher shipments to various foreign markets, according to recent data released on Thursday.
The Federation of Thai Industries (FTI) reported that the country’s finished car exports increased by 12.25 percent compared to the same period last year, reaching a total of 86,358 units last month. This follows a significant year-on-year surge of 43.53 percent in April, highlighting the sustained growth trend.
Surapong Paisitpattanapong, the FTI’s spokesperson and vice president of the automotive industry club, stated that auto manufacturers produced a total of 150,532 vehicles in Thailand in May, representing a notable increase of 16.48 percent compared to the previous year. The rise in production can be attributed to higher output for both export and domestic sales.
Furthermore, Surapong emphasized that car production during the first five months of the year expanded by 6.72 percent compared to the same period last year, reaching a total of 775,955 units. This positive growth trajectory indicates that the industry is well on track to achieve the year-end car production target of 1.95 million units.
In terms of domestic auto sales, there was a slight uptick of 0.55 percent in May compared to the previous year, with a total of 65,088 units sold. This modest growth follows a 6.14 percent drop in April. Surapong highlighted the resilience of the domestic market despite the challenges faced in recent months.
The consistent growth in Thailand’s auto exports can be attributed to several factors, including the favorable comparison to last year’s low base due to the impact of the global pandemic. Additionally, increased shipments to foreign markets have contributed to the overall positive performance of the industry.
