Auto sales jumped 27.9% year-on-year to 84,965 units in May and 7.3% from the previous month, according to the Federation of Thai Industries (FTI).
In the first five months of this year, sales rose 18% year-on-year to 401,264 units, said Surapong Paisitpattanapong, vice-president and spokesman of the automotive chapter of the FTI.
The growth was largely due to the introduction of new models, growing consumer confidence and the recovering economy.
In May, auto exports climbed 9.7% to 98,875 units worth 51.9 billion baht in total, up 8% year-on-year. The growth was seen in almost all markets except the Middle East and the Americas in the wake of the world economic recovery.
Total auto exports in the first five months gained 5.3% year-on-year to 466,676 units worth 241.7 billion baht, up 3.3%.
Production in May stood at 193,190 units, up 13.9% from the same month last year, driven by more output of passenger cars (8.9%) and pickup trucks (10%).
Production is poised to meet the 2-million-unit target, 1.1 million of which are destined for exports.
“Output may exceed the 2-million-unit target while exports will likely meet the 6% goal and reach 1 trillion baht after war prospects triggered a 39% drop in the Middle East market,” Mr Surapong said.