Thu, January 20, 2022

business

Auto industry sees positive signals despite contraction in first half


Auto production contracted by 43.14 per cent in the first half of the year compared to the same period in 2019 but the Federation of Thai Industries (FTI) is confident of the situation improving in the second half.
Production for the whole year is expected to contract by 30-35 per cent year on year, 
FTI spokesman Surapong Paisitpatanapong said. The production data included domestic sales and exports of cars and motorcycles.
Automobile production in June 2020 totalled 71,704 units, down by 58.52 per cent compared with the same period last year as it was mostly for domestic sales than for export, Surapong said  However, production in May increased by 27.96 per cent month on month since most of the automotive industry operators had reopened and factories had resumed production.
Auto production during the first six months of this year totalled 606,132 units down by 43.14 per cent year on year. One-tonne pickup trucks accounted for 368,562 units, equal to 60.81 per cent of total production.
Motorcycle production in June was 89,799 units, down by 56.09 per cent compared to the same period last year. Total motorcycle production in the first six months of this year was 877,447 units, down by 30.28 per cent.
Domestic car sales in June totalled 58,013 units, down by 32.6 per cent compared to the same period last year but up from May by 43.53 per cent. Domestic sales have increased since the government relaxed the lockdown and offered aid to those affected by Covid-19. Sales in the first six months totalled 328,604 vehicles, down 37.3 per cent year on year.
Motorcycle sales in June were 125,028 units, down by 16.87 per cent year on year but up from May by 28.43 per cent. Overall, sapes during the first six months of the year totalled 731,979 units, down by 18.1 per cent compared to the same period last year.
The situation of vehicle production and sales has improved, Surapong said. The FTI estimates that throughout the year, the Thai automotive industry will have lower overall production, sales and exports, less than 50 per cent from the previous year, and contract by 30-35 per cent if the Covid-19 situation, both in Thailand and abroad, is controlled.

Published : July 24, 2020

By : The Nation