Thai automakers target 1.8m vehicles this year, 1m for export
The Thai automotive industry expects to manufacture 1.8 million vehicles this year, one million for export, as market demand continues to improve.
Auto production grew 18 per cent in 2021 from a year earlier, to 1,685,706 vehicles, the Federation of Thai Industries reports. Exports grew 30 per cent to Bt561.14 million.
December saw exports rise to a nine-month high of 101,307 vehicles, up 2.5 per cent from November and 48 per cent from the same period a year earlier.
The FDI said the vehicle exports to Australia and Oceania rose by 102 per cent, to Europe by 65 per cent and to Central and South America by 122 per cent.
It forecast the situation will continue to improve in 2022, with Thailand producing 1 million vehicles for the overseas market and 800,000 for domestic sale.
Noriaki Yamashita, president of Toyota Motor Thailand, said the Covid-19 crisis would continue to impact on the Thai economy, but the auto industry would improve gradually in line with overall economic conditions.
He forecast domestic sales of 860,000 new vehicles this year, up 13.3 per cent on 2021.
He said Toyota Motor Thailand aimed to export 371,000 vehicles this year, up 27.2 per cent from last year. It plans to increase production by 25.9 per cent to 647,000 vehicles this year.