# Thailand Car Output Fell 12% in Jan.

- Link: https://www.thailand-business-news.com/business/127340-thailand-car-output-fell-12-in-jan
- Published: 2024-02-22T16:50:36+07:00
- Author: Rithy Chey

Car production in Thailand experienced a significant decline of **12.46%** in January
compared to the same period last year. According to the **Federation of Thai Industries(
FTI)**, a total of **142,102 units** were produced during this time.

## **Domestic Sales Slump**

The drop in car production was primarily driven by sluggish domestic sales. In January,
domestic car sales fell by **16.42%** year-on-year, reflecting tightened conditions
for auto loans. The FTI’s automotive industry division spokesperson, **Surapong 
Paisitpattanapong**, attributed this decline to banks tightening loans specifically
for pickup trucks.

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## **Thailand: A Key Auto Production Center**

Thailand holds a prominent position as Southeast Asia’s largest auto production 
center. It serves as an export base for several leading car manufacturers, including**
Toyota** and **Honda**. Notably, pickup trucks are among the key vehicles manufactured
in Thailand.

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## **Car Exports and Future Predictions**

Despite the challenges faced domestically, Thailand continues to export cars globally.
Car exports dipped slightly by approximately **0.1%** year-on-year. Looking ahead,
the FTI predicts a modest recovery in car production, estimating a total of **1.9
million units** for this year—up from last year’s production of **1.84 million units**,
which represented a **2.2%** drop from 2022.

Thailand remains an essential player in the global automotive industry, attracting
significant investments from Chinese electric vehicle makers and contributing to
the region’s economic landscape.