Vehicle manufacturing in Thailand is expected to surpass the 1.6 million-unit mark this year, the Federation of Thai Industries (FTI) has said. This has been attributed to the reopening of the country’s economy as well as improved consumer confidence, Bangkok Post reported the federation as saying.
The country’s vehicle manufacturing recorded a total of 1.53 million units from January to November this year, which represents a 19.3% increase year-on-year, said FTI automotive club vice-chairman and spokesperson Surapong Paisitpatanapong.
The FTI hopes that the year will see a total output volume of between 1.68 and 1.69 million units, following previously enforced lockdown measures in the country which have caused concern for slow vehicle sales.
“The 11-month target is getting close to the [full-year] target. This does not include the sales boost from the Motor Expo and car sales in December,” Surapong said, citing the two factors expected to further drive vehicle production volume. Looking into next year, the FTI club expects vehicle production to reach a volume of up to 1.8 million units, and from this sum, exports will account for 900,000 to 950,000 units.
Ford Thailand Manufacturing plant
Vehicle manufacturing in the country in November saw a tally of 165,353 units, which is the highest monthly figure in 2021 so far, said Surapong. Exports has been a key contributor, accounting for 54.5% or 90,112 units from the year-to-date figure, he added.
There are still some potential hurdles along the way; whether or not the target for 2022 is achieved will depend on outbreaks of Omicron variant of the virus, as well as the situation with the ongoing global semiconductor chip shortage, the club’s spokesperson added.
In terms of sales, Thailand has recorded sales of 668,520 vehicles (excluding 1,461,138 motorcycles) from January to November, and that figure includes vehicles categorised as pure pick-ups, pick-up passenger vehicles, trucks, and patrol cars. For Thailand, this is a 2.8% drop in year-to-date sales compared to 2020, Bangkok Post reported citing FTI sources.
For comparison, Malaysia has recorded a November year-to-date sales figure of 441,136 units of commercial vehicles and passenger vehicles combined, which is 3.96% behind the 459,336 sold last year.
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