FTI reveals that the production of cars for the first 8 months of the year 65 touches 1.18 million cars, growing 10.53%, hopes for the whole year, can still hope to meet the target of 1.75 million cars after various factors support and wait for the chance to win more chips after the slowdown in electronic exports
23 Sep 2022 – Mr. Surapong Paisitpatanapong Vice President and Spokesperson for Automotive Industry Group The Federation of Thai Industries (FTI) revealed that the total production of all types of cars in August 65 was 171,731 units, an increase of 64.90% compared to the same period last year due to the low base last year. because of the lockdown from covid-19 Between mid-July-August 64, meanwhile, the total amount in August 65 increased by 20.13 percent from July 65 because of the production of new passenger cars for sale in the country, resulting in 8 months. For the first time this year (Jan.-Aug. 65), total vehicle production stood at 1,184,800 units, an increase of 10.53% from the same period last year, with confidence that vehicle production throughout the year 65 will reach 1,750,000 units as targeted. Divided into production for export 900,000 units and domestic production of 850,000 units according to the target
For August domestic car sales totaled 68,208 units, an increase of 61.7% from the same period last year from last year’s low base due to lockdown and an increase of 6.52% from July 65 because there were cars. New models and getting more parts on some cars. as well as a better domestic economy from relaxation for tourists and foreign investors to enter the country more conveniently and exports that are still growing increased employment Farmers and people have better incomes and the first 8 months of this year. 559,537 vehicles were sold, an increase of 19.61% over the same period last year.
Meanwhile, the export of finished cars in August 65 was 73,325 units, a decrease of 11.75% from last month, but an increase of 23.09 percent from last year’s August because of the low base of last year, resulting in the first 8 months of the year. This exported 606,055 units, an increase of 0.40% from the same period last year. The total value of automobile exports for the first 8 months of this year, including engines, auto parts and spare parts, was valued at 551,483.90 million baht, an increase of 4.80% from the same period last year.
“Our newly revised full-year target of a reduction in production of 50,000 units to 1,750,000 units, the rest of the outlook is thought to be plausible, with positives from domestic economic activity rising from 1 t. . July that the government has designated Covid-19 as a disease that is only under surveillance from a dangerous communicable disease. Raising the minimum wage to boost people’s income including insurance for state economic crops various economic stimulus measures said Mr. Surapong.
As for exports, the shortage of semiconductors (chips) must be closely monitored. At last this may be good news after the electrical and electronics industry’s shipments declined. Could it be possible for the cars to get some more chips instead, which is to follow, coupled with better sales in many partner countries? But the negative factors that must be considered are the likely global economic recession, including Geopolitical changes in both the Russian-Ukrainian conflict Tensions in Taiwan and the Middle East