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Thailand Automotive Export Down In June

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BANGKOK – Thailand’s car and truck exports in June decreased by 26.14 per cent year-on-year to 76,774 units.

Im terms of value, the exports contracted 29.21 per cent to 35.15 billion baht.

The total export value of the automotive sector including engines, parts and spare parts dropped 20.97 per cent to 56.872 billion baht, said Surapong
Paisitpatanapong, Deputy Chairman of the Federation of Thai Industries’ (FTI) Automotive Industry Club at a press conference today.

For the January-June period, exports increased 2.86 per cent to 576,073 units and in value terms perked 0.03 per cent to 264.686 billion baht compared with the same period last year, he said.

Including engines, parts and spare parts, the exports contracted 1.39 per cent to 387.383 billion baht, he added.

The domestic sales continued to be weak, shrinking 18.4 per cent to 60,217 units in June compared with the same period last year.

However, it was still 5.75 per cent better than in May.

Domestic sales for the January-June period stood at 369.004 billion baht, down 16.3 per cent compared with the same period last year.

The contributing factors to the weak domestic sales included slowdown in private investment, weak prices of agricultural products as well as stringent loan requirements by financial institutions facing high household debt and lower budget disbursement by the government which in turn affected purchasing power, Surapong said.

He said cars and trucks production in June totalled 151,698 units.

The production for the domestic market rose 17.09 per cent to 64,725 units, but production for exports dropped 16.85 per cent to 86,973 units, he added. – BERNAMA

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