The Federation of Thai Industries (FTI) has an optimistic outlook for the country’s automotive industry, the Bangkok Post reports. This is as the country posted growth in production, domestic sales and exports in the first half of 2018.
Last week, the FTI’s automotive industry club reported strong performance in June, where production increased 7.7% to 188,970 units, buoyed by pick-up trucks for exports.
“The export outlook has performed better than expected as the country’s main destination, the Middle East, has resumed economic growth on rising oil prices,” said spokesman Surapong Paisitpatanapong. Domestic sales in June jumped 25.9% to 87,854 units, up 3.4% month-on-month.
Boosted by June figures, total production in the first half of 2018 is up 11.1% year-on-year to 1.057 million vehicles. Car sales in Thailand ended H1 2018 with 489,118 units, which is 19.3% y-o-y growth. Exports grew 4.8% in the first six months of the year to 561,960 units, valued at 290.892 billion baht (+2.6%).
Despite the stronger than expected performance so far, the auto industry club is yet to officially revise upwards the projections for the full year, and will make a final decision this week. The tentative full year 2018 projection is 2.1 million total production (from 2m), domestic sales of 960,000-980,000 (from 900k) and exports of 1.12 million (from 1.1m).
The strong showing is attributed to factors such as government spending, private sector investment, new car models, growing consumer confidence, an uptick in the construction sector, recovery in farm output prices, healthy imports/exports, poverty reduction measures and a bullish tourism sector.
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that Civic in Modelissta kit a real looker!
Mazda 2. Dumb dumb
CHR Toyota. Dumb n dumber
The FTI are very lucky because Thailand has become the Detroit of Asia.
Malaysia was supposed to be the Detroit of Asia because 80s and 90s we the CKD Capital of Asia.
Unfortunately, because of Proton and the protectionism given to Proton, car companies decided to set up shop in Thailand.
What a coincidence with malaysia
Thailand car sales is double of msia. But we see growing MY consumer confidence yo’
MY only go up now, later SST comes in all drop.
Nice CHR Hybrid
how many units of tuk-tuk sold?
Syukurr mesia ade saga..
Look at how many cars they exported. Far more than the cars sold there. Probably only 50 tuk tuks sold.
That is an ugly bodykit for the C-HR. Yuck!
Correct. C-HR Ori oredy soo fleek AF. Dangg!
Beauty is in the eyes of the beholder. Sad to say, this CHR is not for your eyes ONLY.
Overcooked.
CHR is fugley
1.12m units exported. Wow… Thank you Proton
Thailand ranks #15 in 2017 Top 15 vehicles exported (by USD). Only 3 Asian countries made the list, Japan (#2 $93.4 Billion) South Korea (#7 $38.8 Billion) & Thailand (#15 $10.9 Billion). Thailand growth since 2013 is +64.1%.
Source: World’s Top Export (WTEx) June 23, 2018. Car Exports by Country.
Yet, Thai car prices is still one of highest relative to income per capita.
Thai car prices higher yet sold more than Msia.
Thai richer than Msia. Fullstop
70 million ppl versus 30 mil. Red apple to green apple comparison
Have you been to Bangkok? More expensive cars seen there than KL
Good news for Tomyam country BUT bad news for Nasi Lemak land bcoz Tomyam country is flourishing while Nasi Lemak land is losing its edge.
If only we have a friendlier investment policy with car manufacturer’s, we could have been exporting those vehicles of more than 500,00(H1) units not to mention foreign exchange gains, income & jobs. So sad
Oso if locals here willing to work for Rm2000/mth in rotating shift work, but nobody in MY will do it lor. So even if without Tomyam and Indomee, they still wun come here.
Locals snowflake gen.
If locals are paid RM2,000/mth that comes with accommodations, sick leaves, EPF, SOCSO, food, recreations & health benefits, am sure many will work in the factory.
Isn’t that is better than wasting times “Lepaking” or not working! That will mop out many unemployed Right!
Nope. Even factories I know offering Rm2500/mth, veli few takers and then mostly chow after 1 month. In the end hire Nepals & Banglas. Add on OT and weekend allowance, their pay even higher than manager but locals still hi keras dun wan.
Like this they rather go to low cost countries and setup factory there instead, Right!!
Tomyam dont want to work here also. The salary is peanuts. All of them working in Singapore. Only the kampung Tomyam working here as masseuse.
Malaysia better.
https://paultan.org/2015/12/08/malaysia-eev-incentives-better-than-thailands-fs/
Rubbish Thatiland car, more expensive than Japan car! stupid