Studies show experienced a slight decline of zero.13% in automobile production in April in comparability with the earlier year, with a complete of 117,636 units produced, according to the Federation of Thai Industries (FTI). This decrease was primarily due to a drop in truck production. However, the nation witnessed a big surge in auto exports during the same month, owing to a low base in the earlier yr.
In April, home automobile sales saw a 6.14% year-on-year decrease, following an 8.37% drop in March. Surapong Paisitpattanapong, a spokesperson for the automotive business division at the FTI, attributed this decline to stricter loans for vans as rates of interest increased.
On the opposite hand, automobile exports skilled a significant increase, rising 43.53% from a yr earlier, largely as a outcome of low base recorded in the previous yr. This followed a four.84% improve in March. In comparison, automotive production in March had seen a four.16% year-on-year development.
Thailand serves as a regional hub for vehicle production and export for several leading automobile producers, together with Toyota and Honda, reported Bangkok Post.
Meanwhile, the rise of the electric automobile (EV) automobile market has been making waves within the global automotive industry, and its influence has been notably significant in Thailand, a major player within the global automotive market.
Thailand’s automotive sector is amongst the most important pillars of its financial system, contributing considerably to the country’s GDP and employment. As the largest automobile producer in Southeast Asia, Thailand has built a sturdy ecosystem of car manufacturing, parts production, and assembly operations. The country is actively embracing the EV revolution, and the rising recognition of EV automobiles is acknowledged to have far-reaching implications for its automotive workforce.
Thailand is adopting EV cars for several causes, pushed by a combination of environmental, financial, and strategic factors that align with the country’s long-term imaginative and prescient for sustainable progress and improvement..