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rooster59

Thailand produces more than 190,000 vehicles in May

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Thailand produces more than 190,000 vehicles in May

Thammarat Thadaphrom

 

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BANGKOK, 23rd June 2018 (NNT) – Thailand last month produced more than 193,000 vehicles, a increase of 13.94% compared to the same month of 2017, according to the Federation of Thai Industries (FTI). 

 

Surapong Paisitpatnapong, acting vice chairman of the Federation of Thai Industries' Automotive Industry Club, revealed this week that a total of 193,130 vehicles were produced in May, of which 98,875 units were shipped overseas, accounting for a rise of 9.75% year-on-year. May was the seventh consecutive month Thailand saw an increase in auto exports. 

 

In May, 90,320 vehicles were produced for the domestic market while the actual number of units sold was 84,965 vehicles, a surge of 27.9% year-on-year. Surapong attributed the domestic sales increase to higher consumer confidence and attractive auto campaigns. 

 

Should the country be able to maintain the monthly increase in vehicle production at the rate of 3-4%, Surapong believes Thailand will meet this year’s target of 2 million vehicles, of which 1.1 million units will be sold to overseas buyers and 900,000 vehicles to domestic consumers. 

 

 
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-- nnt 2018-06-24

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They should  be careful of over production as they may have to end up giving  the vehicles away. But hopefully not to wild animals .......although many Thai drivers could be described as wild animals  

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5 hours ago, rooster59 said:

Surapong attributed the domestic sales increase to higher consumer confidence

And yet Thai consumer confidence index (CCI) has fallen below 50 points of the 100-point scale in May largely due to the concern over agricultural price instability.

According to the Bank of Thailand, while consumption has expanded, better economic conditions have not yet increased household revenue and employment across the board; and household debt remains high.  http://www.nationmultimedia.com/detail/Economy/30348268

5 hours ago, rooster59 said:

attractive auto campaigns

So income equality is stalled while Thais are being drawn further in by 'attractive' debt. But I'm sure from Surapong's perspective that more car production favors the automotive industry. Just be sure that Thailand prevents competition from foreign imports.

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