25-7-2023 (BANGKOK) Thailand’s car production increased by 1.78% in June compared to the same period last year, with 145,557 units produced, according to the Federation of Thai Industries (FTI). The rise in production is mainly attributed to exports, as local sales have contracted. Car exports rose by 20.22% year-on-year to 88,826 units in June, with a 12.25% increase in May, as the shortage of microchips eased, the FTI’s automotive industry division spokesperson, Surapong Paisitpattanapong, said.
However, domestic car sales declined by 5.16% in June compared to the same month last year, with 64,440 units sold, following a 0.55% rise in May, according to Surapong, who spoke at a virtual briefing. The growth in Thailand’s car production in June was slower than May’s 16.48% surge. Thailand is a regional vehicle production and export base for some of the world’s leading car manufacturers, such as Toyota and Honda.
Surapong also stated that truck sales fell by about 33.8% year-on-year in June, as banks tightened auto loans due to high household debt levels. The FTI has revised its earlier projection of domestic car sales from 900,000 units to 850,000 units for this year.
