Thai auto production set to roar past annual target with 1.42m units

By The Nation

 

FILE PHOTO

 

The country is expected to produce 1.42 million cars this year, exceeding the target by 20,000 units, according to the Federation of Thai Industries' Automotive Industry Club.

 

Production for domestic sales is also set to meet the target of 700,000 and climb as high as 720,000, said club vice president and spokesman Surapong Pisitpattanapong.

 

He attributed the high sales to Thailand’s success in curbing the Covid-19 pandemic, resulting in a speedy economic recovery.

 

Production for exports is also expected to meet the 700,000 target, as long as there is no severe second wave of the outbreak in Europe.

 

Total production in October was 149,360 units, down only 2.24 per cent year on year.

 

Production for domestic sales, which accounts for more than half of total production, rose 18.81 per cent year on year to 82,157. The figure reflects growth for two consecutive months.

 

Production for export in October dropped 19.65 per cent to 67,203 units.

 

The export value for finished vehicles, including auto parts, spare parts, and motorcycles and spare parts, was just over Bt65 billion, a drop of 6.7 per cent year on year. The export value from January-October was Bt520.555 billion, a fall of 28.87 per cent year on year.

 

Source: https://www.nationthailand.com/business/30398109

 

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8 minutes ago, webfact said:

Production for exports is also expected to meet the 700,000 target, as long as there is no severe second wave of the outbreak in Europe.

 

Lol, good luck with that. Europe's going to be mostly locked down in one way or another until spring.

Something doesn't add up. Oct exports down 20% but yearly target to be exceeded. How much lower is this target than what output was last year?  

how many are actually SOLD not  sitting in a  field

3 hours ago, bodga said:

how many are actually SOLD not  sitting in a  field

match with this article on sales in Thailand -

 

The Federation of Thai Industries (FTI) announced that vehicle production in Thailand decreased by 0.8% to 2.15 million units in 2019.

 

7 hours ago, webfact said:

He attributed the high sales to Thailand’s success in curbing the Covid-19 pandemic, resulting in a speedy economic recovery.

Yesterdays news was auto manufacturing down for the 17th straight month... am I missing something ?

1 hour ago, geovalin said:

The Federation of Thai Industries (FTI) announced that vehicle production in Thailand decreased by 0.8% to 2.15 million units in 2019.

 

They would have reduced the target in 2020 because of Covid.

So they have only just passed their drastically reduced target for 2020. A less than 2% increase on a much lower figure is hardly 'roaring'.

Don,t be so negative chaps...as for all they are only "manipulating" the figures...they like to look "on the bright side" here

7 hours ago, bodga said:

how many are actually SOLD not  sitting in a  field

Exactly!  You can produce as many as you like, but sales is a whole different story.

How much production is actually being sold? It's unclear from the article. Perhaps they are following the China model, here, like they're trying to do with everything else. Production is all that matters. That is how China determines its GDP, through production and not demand. Are these cars being stockpiled? What does Thailand's importation of raw material used to manufacture cars look like? 

3 hours ago, Tropicalevo said:

They would have reduced the target in 2020 because of Covid.

So they have only just passed their drastically reduced target for 2020. A less than 2% increase on a much lower figure is hardly 'roaring'.

 

This is true. And seems like they also just change the target mid/end year. Like how they reduced 2019s target of 2.15m to 2m in September 2019.

2 hours ago, robertson468 said:

Exactly!  You can produce as many as you like, but sales is a whole different story.

An old sales trick that the Manufacturers use is to buy them back themselves.

They then Lease them out through a Lease Company that they are Partners to.

Basically, the Cars are all Lease but show as purchased.

11 hours ago, webfact said:

The export value for finished vehicles, including auto parts, spare parts, and motorcycles and spare parts, was just over Bt65 billion, a drop of 6.7 per cent year on year. The export value from January-October was Bt520.555 billion, a fall of 28.87 per cent year on year.

This just dont add up to me.

But hey ! my math is poor.