Thu, 30 Nov 2023

Thailand's auto production down in August

21 Sep 2023, 23:44 GMT+10

BANGKOK, Sept. 21 (Xinhua) -- Thailand's auto production fell in August as manufacturing for the domestic market and local sales dropped despite a surge in exports, data showed on Thursday.

Auto manufacturers produced 150,657 vehicles in the Southeast Asian nation last month, down 12.27 percent from a year earlier, due to a major decline in pickup truck production and last year's high comparative base as semiconductor supplies improved, according to the Federation of Thai Industries (FTI).

The country's finished car exports surged 19.41 percent year on year last month to 87,555 units due to higher shipments to Australia, the Middle East, and Europe markets, said Surapong Paisitpattanapong, the FTI's automotive industry club vice president and spokesperson.

The finished car export value soared 21.99 percent year on year in August, totaling 60.21 billion baht (about 1.66 billion U.S. dollars), mainly from an expansion of passenger car shipments, Surapong told a news conference.

For the first eight months of the year, finished car exports expanded 19.53 percent year on year to 724,423 units, on course to meet the whole-year export target of 1,050,000 units, according to Surapong.

Domestic auto sales fell 11.69 percent year on year last month to 60,234 units as a result of declining pickup truck sales due to tightening bank loans, he said.

In the January-August period, sales of internal combustion engine cars shrank 16.46 percent to 429,136 units, while sales of battery electric vehicles jumped 837.79 percent to 41,844 units, he added.

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