Automobile exports soar despite Covid-induced slowdown
Thailand's automobile exports jumped by nearly 14 per cent in January amid a contracting domestic market, a report from the Federation of Thai Industries said.
The FTI’s Automotive Industry Club reported on Thursday that Thailand had shipped 74,132 vehicles last month, up 13.53 per cent compared to the same period last year. The rise was attributed to increasing demands in Thailand’s three major markets – Asia, Middle East and Africa.
The export value of automobiles in January also rose to 28.4 per cent year on year to Bt41.43 billion.
The biggest importers of vehicles from Thailand in January were China, Japan and Australia.
“The domestic market, however, is still contracting, with only 55,208 vehicles sold, or 46.96 per cent less year on year,” said Surapong Paisitpattanapong, the club’s vice president and spokesman.
“The contraction is due to consumers’ concerns about the new wave of infections, which hit the country in December last year and has resulted in many putting their plans to purchase new cars on hold.”
Meanwhile, 219,977 motorcycles were produced in January, up 4.95 per cent year on year. Domestic sales last month dropped 6.63 per cent year on year to 135,641 units, though exports rose 2.28 per cent year on year to 79,811 units. The total value of motorcycle exports came in at Bt7.53 billion, up by 21.23 per cent year on year.
Total exports in the Thai automotive sector in January, including cars, motorcycles, engines, components and parts, came in at Bt69.78 billion, up by 27.22 per cent year on year.