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Thailand’s car sales up 12.1% in March, to exceed 900,000 this year

The Federation of Thai Industries (FTI) says Thailand’s automobile industry is picking up with sales target end of this year to exceed 900,000 units

Boris Sullivan

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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

The country’s domestic car sales rose 12.1% to 95,082 cars in March from a year earlier, boosted by Bangkok Motor Show and improving public and private investment, the Federation of Thai Industries (FTI) said on Wednesday.

The FTI has forecast domestic car sales of 900,000 vehicles this year after a 13.4% jump in 2017, which was the first annual increase in five years and by the end of this year, total production could reach its target for 2 million cars.

According to FTI 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.

Annual domestic car sales contracted during 2013-2016, following the end of a government car subsidy scheme in 2012, when sales surged 81%.

In March, car exports increased 4.7% year-on-year to 110,946 vehicles.

The FTI forecasts car exports at 1.1 million this year after 1.14 million cars exported last year.

Thailand is a regional vehicle production and export base for the world’s top carmakers. The auto industry accounts for about 12% of Southeast Asia’s second-largest economy.

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Business

Ministry of Commerce pushes for exports to offset trade war aftermath

The Board of Trade of Thailand’s Chairman has proposed temporary border trading points be upgraded to permanent ones and more centers for the distribution of SME goods be opened

National News Bureau of Thailand

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BANGKOK, 12th August 2019 (NNT) – The Board of Trade of Thailand is working with the Ministry of Commerce to add value to the wide range of Thai goods for export, in reaction to the trade war between the United States and China.

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Fruit farmers coping with oversupply and price slumps

Thai Government vows to help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce said.

National News Bureau of Thailand

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BANGKOK, August 2019 (NNT) – To help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce has recently used Section 44, of the interim constitution, to engage government and private agencies in assisting them in terms of marketing to help sell the produce, including mangosteens, Lansium demesticum, rambutans, longans and other seasonal fruit.

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Business

Thailand’s Drought disaster estimated 10bn baht ($326M)

The overall damage is expected to escalate to 37 billion baht should the drought extends to September, as the wet season rice cultivation cycle would be affected; that would lower expected Thai economic growth to 2.9 percent from 3 percent.

National News Bureau of Thailand

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BANGKOK, 3rd August 2019 (NNT) – The latest estimate from the University of Thai Chambers of Commerce (UTCC) shows the drought disaster this year has affected some 1,330 square kilometers of farmland, most of which is rice farms, with initial damage estimated at about 10 billion baht.

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