Thailand auto exports jumped 28% in September, but the outlook for the sector remained sluggish as domestic sales showed no sign of improvement, according to the latest report from the Federation of Thai Industries.
The country’s automotive production rose 4.38% from a year earlier and 7.76% on a monthly basis to 171,496 units in September.
In September 2015, the car export was at 124,952 units, an increase of 28.06 percent from September 2014 due to the high growth rate of the export of the new pickup trucks to the Middle East market and the export of the eco cars to the North America Market.
The export value was at 64,538.61 million Baht, an increase of 43.52 percent from September 2014. The total car export value on September 2015, car engines, parts and accessories were at 85,516.16 million Baht, an increase of 26.32 percent from September 2014.
During January to September 2015 the car export was at 905,366 units or equivalent of 99.32 percent, an increase of 7.92 percent as compared to the same period last year. The export value was at 431,520.49 million Baht, an increase of 8.92 percent as compared to the same period last year.
During the first nine months of 2015, Thailand’s total automotive production rose 1.65% on-year to 1.43 million units.
But from January to September, only 553,826 units of cars were sold locally representing a 14.6% year on-year fall.
2015’s target reduced at 2 million units
The car production target 2015 was at 1,950,000 – 2,000,000 units representing a cut from the previous target of 50,000 – 100,000 units. The export production retained the same target at 1,200,000 units The production for the domestic consumption target was lowered over the previous target at 50,000 to 100,000 units or to be produced at 750,000 to 800,000 units