Thailand's automotive exports rose 14.09% year-on-year to 92,440 units in January, Bernama reports, citing increased exports to European, Australian as well as North, Central and South American markets.
According to the Federation of Thai Industries' automotive industry club deputy chairman Surapong Paisitpatanapong, exports jumped 10% year-on-year to 41.151 billion baht (RM4.593 billion) in value terms, while total exports including of engines and components increased 5.84% to 59.281 billion baht (RM6.617 billion).
Domestic sales volume in January, however, decreased 12.9% to 59,669 units. Contributing factors, he said, include low agricultural product prices, strict loan conditions from financial institutions as well as private investment and economy which have yet to recover.
As for production, the Land of Smiles targets 1.2 million cars and trucks for export and 950,000 for the domestic market. Total production in January jumped 2.22% year-on-year to 166,260 units. Production for export rose 13.81% to 106,278 units, but that for Thai consumption fell 13.4% to 59,892 units.
The gap in car output between Thailand and Indonesia narrowed to its smallest ever last year in percentage terms, and Indonesia's production may push past Thailand's within a decade, Reuters recently reported. See how Malaysia did last year here.
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