Connect with us
CGIF-10th-Year-Anniversary

Markets

Thailand’s auto sales up 11% year-on-year

Boris Sullivan

Published

on

Thailand’s auto sales in July totaled 72,902 units, an increase of 3.76 per cent from the previous month and an 11 per cent increase year-on-year, according to Surapong Paisitpattanapong, auto industry spokesman for the Federation of Thai Industries (FTI).

Auto sales took an upturn in July due to the robust domestic economy and automakers were able to resume production at full capacity, so more cars could be delivered to customers.

Moreover, compact cars attracted a new group of customers. In the first seven months of this year, total auto sales reached 504,914 units, a 19.5 per cent increase year-on-year.

Models pose with the Thai-built Mazda3 compact car at the 32nd Bangkok International Motor Show in Bangkok, Thailand, 24 March 2011.

The auto production in July totaled 147,236 units, an increase of 1.01 per cent, compared to the same period last year and a 4.17 per cent drop from the previous month. Auto production in the first seven months of this year accounted for 957,843 units, an increase of 4.71 per cent from the same period last year. Most auto production — 51.41 per cent, or some 492,000 units — was for export, but dropped by 3.59 per cent, compared to the same period last year.

Motorcycle sales in July hit 178,050 units, an increase of 13.75 per cent year-on-year, but dropped by 19.763 per cent from the previous month. Motorcycle sales in the first seven months of this year was 1.2 million units, a 15.5 per cent rise year-on-year while motorcycle production in July totaled 291, 894 units, an increase of 20.1 per cent from the same period last year. The motorcycle production from January – July 2011 totaled 1.9 million units, an increase of 26.73 per cent year-on-year.

The FTI projected that automobile production in the next three months will be about 510,000 units, a 17 per cent increase year-on- year, while motorcycle production is expected at 499,240 units, a 5.12 per cent drop from the same period last year, said the spokesman. (MCOT online news)

via Thailand’s auto sales and production robust in July.

fter a brief slowdown earlier this year, Thailand’s automotive industry is back near top speed, resuming progress toward the goal of becoming the world’s 10th biggest automaker. Rising steadily by one notch in 2009 and by another in 2010, Thailand currently ranks as the 12th largest auto manufacturing country.

Industry experts predict the country will enter the global top 10 on output of 2.3 million units in three or four years. Looking further, on the strength of its good fundamentals and untiring optimism, the Thai automotive industry is projected to keep advancing and turn out 2.5 million units by 2020.

In the wake of the temporary slowdown, Thailand’s automotive output for the whole of 2011 will likely be limited to between 1.65 million and 1.80 million units. Still, the former matches last year’s output and the latter figure would represent impressive growth considering the brief down period.

Showing the resolute nature of the local industry, during the parts shortage many automakers in Thailand acted to turn adversity into opportunity. For example, Toyota Motor Thailand, the biggest maker in the country, kept all of its workers on-shift while production was cut back temporarily. The company provided intensive skills-enhancement training courses for all personnel, strengthening operations even during the downtime.

Comments

Forex

How to Trade the EUR/USD Currency Pair: Professional Tips

The behaviour of the EUR/USD pair is a kind of indicator showing the comparative condition of the US and EU economies. If the US economy steadily grows, and problems arise in the EU, the EUR/USD decreases.

Pr News

Published

on

By

EUR/USD is one of the most popular currency pairs for Forex trading. Since the beginning of trading in 1999, the currency pair has undergone significant changes. For the first two years, the future for the euro was uncertain and the quotation was declining, reaching a minimum of 0.8200.

(more…)
Continue Reading

Markets

Thailand remains ASEAN’s largest Exporter of Vegetables

Currently, the kingdom has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables, including China, Hong Kong, Australia, New Zealand, Japan, Chile, Peru and 6 countries in ASEAN.

National News Bureau of Thailand

Published

on

Thailand has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables.

LAMPANG (NNT) – Despite economic stagnation and border closures, due to COVID-19, Thailand remains ASEAN’s largest exporter of fresh refrigerated vegetables, while being 14th in the world.

(more…)
Continue Reading

commodities

Gold rush hits Thailand as prices surge

The value of gold has rocketed by Bt7,000 per baht weight since the beginning of this year, generating returns of over 20 per cent.

Avatar

Published

on

Photo : Adam Jones

People flocked to sell their gold at China town. The Gold Traders Association announced the buying and selling prices of gold has increased by 50 baht to a historic high.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,431 other subscribers

Trending