Car production in Thailand fell 19.3% in February from a year earlier to 133,690 units, the Federation of Thai Industries (FTI) said on Tuesday, largely due to a decline in production of pickup trucks and more imported electric vehicles (EVs).
The figure compared with a 12.5% year-on-year drop in January. Car exports were up 0.22% year-on-year in February.
Thailand is Southeast Asia’s biggest automobile production centre and an export base for some of the world’s top carmakers, including Toyota and Honda, with pickup trucks among the key vehicles manufactured.
In recent years, Chinese EV brands like BYD and Great Wall Motor have been making inroads into the Thai auto sector, helped by government tax incentives and subsidies.
This week, some higher-end EV brands from China will make their debut at the Bangkok International Motor Show that opens on Wednesday at Impact Muang Thong Thani. Altogether, Chinese automakers have poured $1.44 billion into production facilities.
Overall auto sales are down because of slowing demand for pickup trucks in light of tighter rules from financial institutions, said Surapong Paisitpatanapong, a spokesman for the FTI’s automotive club, adding that sales of traditional passenger vehicles fell 41%.
Overall sales in February totalled 52,843 units, said Mr Surapong
The FTI has predicted car production at 1.9 million vehicles this year, a slight increase from 1.84 million in 2023.