Vehicle production in Thailand declined by over 50% year on year in February to 61,067 units, according to the Federation of Thai Industries, reflecting a sharp decline in demand from both the home market and overseas.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The domestic economy has been affected by falling farm product prices and a decline in foreign tourist arrivals, said FTI spokesman Surapong Paisitpattanapong.
Production of passenger cars was down by almost 54% to 15,949 units, while pickup truck volumes fell by just under 50% to 43,952 units.
Exports fell by 32.5% to 7,849 units during the month, worth THB20.5bn, and this followed a 15% slump in January.
Shipments to Europe fell the sharpest – down by 67.4% to 2,982 units, followed by other Asian countries (-47.1%), while exports to the Middle-East rose 22.2% to 1,557 units.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTony Pugliese
