May 2019 vehicle production yield shrinks 6.11% YoY

[webfact]

May 2019 vehicle production yield shrinks 6.11% YoY

 

   

BANGKOK, 14 June 2019(NNT) - The Thai vehicle production yield in May 2019 was lower by 6.11 percent year-on-year due to implications from both domestic and international markets, says Federation of Thai Industries.

 

The Federation of Thai Industries’ Vice Chairman and Automobile Industry Club Spokesman, Surapong Paisitpatnapong announced yesterday that vehicle production in May 2019 was 181,338 units, which is 6.11 percent lower than the previous year due to declines in both domestic and international markets. The production yield for export was 94,476 units, which is a reduction of 8.11%, especially the production yield in sedan exports which was 31,657 units, an 18.86% reduction, while the production yield of pick-up trucks for export was 62,819 units, which is a 1.53 percent decline. These figures correspond to lower vehicle exports of 95,331 units, which is a 3.585% decline, resulting from lower exports to all markets except Asia, the Middle East, Europe, and North America. The total export value for May 2019 was 48.65 billion baht, which is a 6.22% reduction.

 

The automobile production yield for domestic sales was 86,862 units, lower by 3.83%. The production yield of sedan cars for domestic sales was 39,690 units, a 3.57% decline, while the production yield of pick-up trucks for domestic sales was 44,436 units, a 3.54% decline.

 

Positive factors from the growing domestic economies, the government’s measures to help farmers and low-income earners, investments by the government and the private sector, high numbers of international visitors, and the introduction of newer car models, have however contributed to 3.7% growth in domestic vehicle sales at 88,097 units. It is expected pick-up trucks will continue to sell well, given high market demand and continuous growth of the export sector.

 

 

-- © Copyright nnt 2019-06-14

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[keith101]

Th economy overall is shrinking and yet the Thai Baht somehow remains strong whereas in most countries the monetary value would fall inline with the falling economy but TIT .

[Longcut]

Farangs have to keep their money in the bank now. So, they won't be buying any new cars or trucks.

[Srikcir]

7 hours ago, webfact said:

The automobile production yield for domestic sales was 86,862 units, lower by 3.83%. The production yield of sedan cars for domestic sales was 39,690 units, a 3.57% decline, while the production yield of pick-up trucks for domestic sales was 44,436 units, a 3.54% decline.

It seemed the government's current strategy since 2018 was to increase domestic consumption to offset decreasing export value. Now that appears to falter as well.

• Not very surprising as household debt in 2018Q4 and 2019Q1 had a 6% and a 10% respectfully increase, a record high in five years [since 2014].
• Consumer bad debt now accounts for 28% of total non-performing loans, the highest proportion in the past 13 quarters.  http://www.nationmultimedia.com/detail/business/30370686

Thus far Prayut has refused to give his vision for Thailand's future before the Parliament.

Probably a good way to save face in the near future.

[happy chappie]

As long as the banks keep throwing money to tom,dick and Harry the domestic side will be ok.its only when the crap hits the fan will it all go tits up.another bright thing they have to look at is about 10% a year of domestic vehicles are sold to replace the destroyed ones and so having a reliable source of never ending customers.

[ocddave]

Millennials don't care about cars, times are changing, people aren't so interested in driving anymore. The only market left is the Third World countries, especially Thai's who want to prove they are richer than their neighbors, but in the Western World cars are on the decline.