Thailand’s production of cars and trucks of all makes during the first six months of 2003 reached 336,613 units, up 39.2% from a year ago, on continued strong domestic sales, while assembled vehicle exports rose 38.6% to 106,913 units, an industry report said on Thursday, according to Dow Jones.
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 strong growth is expected to bring the number of export cars in 2003 to 227,699 units, up 25.9% on year and well above the earlier set target of 200,000 units, the Federation of Thai Industries said in a monthly report cited by the news agency which added that total output for the year should reach 729,465 units.
In value terms, the export of assembled cars and pickup trucks from January to June amounted to 46.36 billion baht, up 32.5% on year, the report said, according to Dow Jones. When including detached engines and parts, exports rose 36.8% to THB63.54 billion, the report added.
The sharply higher output data also reflect strong domestic sales, Dow Jones said, citing the report.
Domestic new vehicle sales soared 35.6% on year in the first six months to 246,337 units, amid rising consumer confidence and sharp economic growth, which reached 6.7% in the first quarter and is expected around 5% in the second, Dow Jones added.
According to the news agency, the report said full-year domestic car and truck sales should exceed 500,000 units this year. In 2002, domestic sales rose 37.8% year on year to 409,362 units, a six-year high, Dow Jones added.
