Thailand’s auto industry exceeds its 2021 export target, revenue may hit THB1 trillion: FTI
The Federation of Thai Industries (FTI) reported that as of the end of November, Thailand had exported 857,887 cars, up 28.55 per cent year on year and exceeding its year’s estimated target of 850,000 cars.
“In November alone we exported 98,829 cars, increasing 32.6 per cent year on year,” Surapong Paisitpattanapong, vice president and spokesman of the automobile chapter of the FTI, said on Tuesday.
“FTI estimates total revenue from automotive export [cars, motorcycles and parts] can reach 1 trillion baht in 2021.”
FTI also reported that domestic automakers have produced 1,531,337 cars in the first 11 months of 2021, increasing 19.26 per cent compared to last year’s total production. November alone saw the output of 165,353 cars, which is the highest throughout the year. Of the 1.5 million cars produced, over 57 per cent have been earmarked for export.
“We expect local production to drop in December due to several public holidays, but the total production in 2021 will still exceed the target of 1.6 million cars,” he said.
Surapong also said that domestic sales of cars in November surged to 75,241 units, the highest in eight months thanks to government economic stimulus measures improving consumers’ confidence.
“Furthermore, with many countries unlocking their markets, more farmers and resellers have been buying vehicles to transport their produce,” he added.
FTI also said that in the first 11 months of 2021, Thailand has manufactured 2,092,051 motorcycles, up 15.01 per cent year on year. The production of motorcycles in November alone totalled 231,632 units, up by 8.23 per cent year on year.
