Car ExportsI In 2-Month Slide
Auto-related businesses are increasingly worried about the prospects for car exports after a two-month decline.
The automotive industry club of the Federation of Thai Industries (FTI) reported yesterday that the country's car shipments fell by 9.9% year-on-year in September to 112,565 units.
Export value fell by 9% from September of last year to 58.8 billion baht.
Surapong Paisitpatanapong, a spokesman for the FTI's automotive industry club, said car shipments to key markets such as the Middle East, Africa, Central America and South America remained weak because...
He said the export performance of completely built-up units (CBUs) and their export value remained poor. Pickup exports -- which account for a majority of total exports -- are yet to recover.
But strong shipments of passenger pickup vehicles (PPVs) and eco-cars helped limit the export contraction for the first nine months to 0.5%, with 900,726 units shipped.
Export value for the period rose by 11.3% to 480.4 billion baht.
The club is still maintaining its car export forecast this year at 1.22-1.25 million units in 2016, up slightly by 1-3%, boosted by a robust performance in the first half.
For the domestic market, the FTI reported yesterday that car sales increased by 2.7% year-on-year in September to 63,516 units, marking growth for two consecutive months. The bump was largely fueled by...
Domestic sales from January to September rose slightly by 0.5% to 556,400 vehicles.
Despite the uptick in sales, Mr Surapong said the club remains cautious about the domestic car market's prospects, particularly in the last quarter, in light of His Majesty the King's passing.
He expects the market to feel the effects for several weeks before returning to normal.