April’s vehicle manufacturing lowest in 44 months: FTI’s Auto Club
April’s vehicle manufacturing hits 44-month low amid economic slump, but BEV production soars. Exports and sales decline, pickups expected to recover.
Vehicle manufacturing output in Thailand fell to its lowest point in 44 months in April, amid ongoing economic challenges, according to the Automotive Industry Club of the Federation of Thai Industries (FTI).
Surapong Paisitpattanapong, spokesman for the Auto Club, reported that only 104,250 vehicles were produced in April — a 19.75% decrease from March and 0.40% lower than April 2024.
Rise in Electric Vehicle Production Despite Overall Decline
Despite the overall drop, production of electric vehicles saw remarkable growth: SUVs, battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles increased by 639.75%, 319.11%, and 35.31% respectively.
The decline in production was mainly due to a 33.60% fall in internal combustion engine (ICE) vehicles. This drop was driven primarily by a 36.93% decrease in exports of ICE vehicles during April.
Pickup Truck Production and Domestic Sales Weaken
Pickup truck production fell by 3.06%, with domestic pickup sales dropping 22.25%. Overall, 37,165 vehicles were produced for domestic sales in April, marking an 11.72% decline from the previous year.
Export Figures Show Continued Downward Trend
Vehicle exports totalled 67,085 units in April, down 6.73% compared to April last year. From January to April, exports reached 303,881 units, a 12.07% year-on-year decrease.
April saw 47,193 vehicles sold domestically, down 15.42% from March but up 0.97% compared to April 2024. Sales of pickups and PPVs fell by 21.7% and 20.5% respectively, mainly due to stricter loan approvals.
Thailand’s First BEV Exports Mark a Milestone
April marked Thailand’s first month exporting BEVs, with 660 units shipped abroad. Overall vehicle exports in April decreased by 18.77% from March and 6.31% from April last year.
The Auto Club remains hopeful that pickup sales will improve mid-year following government plans for the Finance Ministry to guarantee mortgage loans for pickup buyers.
