The Federation of Thai Industries (FTI) says the country’s automobile industry is picking up both in production and sales with sales target end of this year to exceed 900,000 units.
FTI’s acting vice president and automobile club president Surapong Paisitpatanapong said the general outlook of the industry is improving with production and sales, both for local market and for export in March picking up.
He said production in March this year was 195,257 units, up 9.21% from the same month last year, and the highest in the past 56 months since 2013.
For the past three months of this year, total production was 539,690 units, or 11.15% increase over the same period of last year.
By the end of this year, total production could reach its target for 2 million cars, he said.
On the car sales in March this year, 95,082 cars were sold in the local market, raising total sales in the first three months of this year to 237,093 units, including 35,000 cars sold at the Motor Show this month.
With the government’s current investment in mega projects and assistance programmes to low income earners, he said total sales could exceed 900,000 units or close to a million by end of the year.
For car export, he said Thailand exported 110,946 cars in March, 4.7% higher from same month last year, or a growth in fifth consecutive month.
He forecast car export to reach 1.1 million units this year and the country would register export value of over a trillion for combined export value of cars and motorcycles.