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Thai auto production soars for first time in 19 months

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Thai automotive production last month rose to 172,455 units, up 11.92 per cent year on year and up 15.46 per cent from October, the Federation of Thai Industries (FTI) said on Thursday.

The first rise in the past 19 months comes after a trade war broke out in 2019 and Covid-19 spread across the globe early this year.
Demand is rising as lockdown restrictions ease in many countries, pushing up car sales. 
Cars produced for export rose 4.25 per cent year on year to 75,014, representing 43.5 per cent of total car production in November. Between January and November, car production for export plummeted by 33 per cent year on year to 649,893 units, representing 50.62 per cent of total production.
Cars produced for the domestic market in November jumped 18.64 per cent year on year to 97,441units, representing 56.50 per cent of total production.
However, January-November car production for the domestic market dropped by 30.24 per cent year on year to 634,070 units, representing 49.38 per cent of total production.
Meanwhile car sales in Thailand last month rose 2.7 per cent year on year to 79,177 units. The 6.83 per cent increase from October’s sales was also the first rise in 19 months. 
Supporting the increase were sales of light-trucks, which rose for the third consecutive month.
The rise in car sales indicates economic recovery driven by government stimulus measures and car producers offering attractive packages for buyers, said the FTI.

Published : December 17, 2020

By : The Nation