Auto production target for 2020 revised down in wake of Covid-19 crisis
The Federation of Thai Industries’ Automotive Industry Club has decided to revise down the vehicle production target this year from 2 million units to between 1 million and 1.4 million if the Covid-19 crisis drags on until June, the club’s spokesperson Surapong Paisitpatanapong said.
Of the total 1.4 million units targeted, half will be earmarked for the domestic market and the rest for exports.
Many foreign automakers have suspended their operations in Thailand due to the outbreak, which could hurt more than 700,000 workers in the industry.
The total car production in March stood at 146,812 units, down 26.16 percent year on year, while production in the first quarter stood at 453,682, down 19.2 percent.
