Thai auto sector on recovery path

By CARSIFU | 26 May 2015


BANGKOK: Thailand's car and truck exports in April increased 17.66 per cent year-on-year to 82,130 units, confirming a recovery in the sector.

In terms of value, the cars and trucks export was 18.21 per cent higher at 39.102 billion baht, Automotive Industry Club of Federation of Thai Industries deputy chairman Surapong Paisitpatanapong said.

He said the automotive export value including engines, parts and spare parts stood at 57.288 billion baht, an increased of 9.29 per cent year-on-year.

Automobile export is increasing due to the rise in eco-cars export to Europe, North America and Australia, while export to Asian markets is also improving, Surapong told a monthly press conference here Monday.

The export for the January-April period increased 13.58 per cent to 410,362 units and in value rose 9.29 per cent to 185.987 billion baht compared with the corresponding period last year, he said.

He said the automotive export, including engines, parts and spare parts for period expanded by 4.53 per cent to 265.695 billion baht year-on-year.

While the export is roaring, the domestic sales continue to be in a slump, mainly due to continued low prices of agricultural products which resulted the weaker farmers purchasing power, while the government has yet to speed up investments.

The domestic sale in April sunk by 26.2 per cent year-on-year to 54,058 units, partly attributed to strict loan requirements because of concern over high household debt, sluggish economic growth and lack of recovery in the private sector investment, he said.

For the January-April period, domestic sales dropped by 15.3 per cent to 251,845 units compared with the corresponding period last year.

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