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.
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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.
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By GlobalDataTony Pugliese
