Car production stats down

Car production stats down

Potential buyers flock to a Chevrolet showroom in Pattaya, Chon Buri, on Wednesday to snap up models offered at large discounts - after General Motors said it was withdrawing  from Thailand by the end of the year. (Photo by Chaiyot Pupattanapong)
Potential buyers flock to a Chevrolet showroom in Pattaya, Chon Buri, on Wednesday to snap up models offered at large discounts - after General Motors said it was withdrawing from Thailand by the end of the year. (Photo by Chaiyot Pupattanapong)

Vehicle production in January dropped 12.99% year-on-year to 156,266 units, hit by contractions in local sales and exports, according to the monthly report from the Federation of Thai Industries (FTI).

However, January output was up 16.44% from December, The FTI's automotive industry club said.

Domestic sales stood at 71,688 cars in January, down 8.2% y/y.

Club spokesman Surapong Paisitpatanapong said local banks' tight vehicle-loan conditions meant fewer  approvals for car buyers, resulting in local distributors being unable to close sales.

Sales contracted year-on-year in January for the 8th month in a row. 

Car shipments overseas were reported at 65,295 units in January, down sharply by 19.96% y/y.

Mr Surapong said shipments declined to almost every region, blaming it on the bearish economy of each destination. Only exports to the Middle East remained in a growth last month.

FTI had a conservative outlook for car production in 2020,  at 2 million units, because of the many global economic difficulties. This projection was a decrease of 0.68% from production in 2019, he said.

Of the targeted production in 2020, 1 million was projected for each segment - local sales and exports, down 0.75% and 5.13% year-on-year, respectively.


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