New vehicle sales in Thailand rose by 21.5% year-on-year in March to a new record high of 110,928 units, according to data released by the Federation of Thai Industries (FTI).
The local automotive industry continued to recover from last October’s devastating floods, which affected vehicle output for much of the last two quarters.
Vehicle production increased by 11% to an all time high of 190,935 units in March, as manufacturers continued to reduce the orders backlog which has built up over the last five months.
Vehicle exports rose by 4.9% to 89,815 units in March, for a total value of THB 42.17 billion (USD 1.36 billion).
With Honda Motor resuming full production at its Ayutthaya plant in the last week of March after more than five months of inactivity, the FTI expects vehicle output to bounce by close to 40% year-on-year in the second quarter to 477,000 units.