Thailand's Motorcycle Exports Soar by 157% Amid Rising Global Demand

[snoop1130]

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Exports of motorcycles from Thailand are on an upward trend, spurred by a growing demand for completely knocked-down (CKD) units, reports the Federation of Thai Industries (FTI). October saw a substantial rise in exports, driven largely by increased interest from Asian markets like Vietnam, Indonesia, Cambodia, and Japan, which are eager to acquire new models for reassembly.

 

Surapong Paisitpatanapong, Vice Chairman of the FTI and spokesperson for its Automotive Industry Club, emphasized the significance of this rising demand for Thailand’s motorcycle industry.

 

In October alone, Thailand exported 175,066 motorcycle units, a remarkable 157% increase compared to the same month last year, when only 68,136 were shipped. The export revenue also saw growth, increasing by 16.6% to 6.5 billion baht from 6 billion baht the previous year.

 

Despite this October surge, the export figures for the first ten months of the year show an overall decline of 15.8%, totaling 776,362 units. This trend aligns with a similar pattern in early 2024 when exports dropped by 10.1% to 473,075 units. The FTI suggested that heightened local production in neighboring countries has led to decreased imports from Thailand.

 

 

On the home front, Thailand's motorcycle sales have seen ups and downs. October sales increased by 3.8% to 140,113 units, although the total sales from January to October fell by 10%, totalling 1.42 million units. Sales of traditional motorcycles dipped by 10%, with electric motorcycles dropping by 9%, a decline partly attributed to cautious lending by financial institutions amid high household debt.

 

Surapong anticipates that a recovery in tourism during the latter half of the year will stimulate domestic motorcycle sales. The FTI expects foreign tourist arrivals to grow, targeting 36.7 million in 2024, which should positively impact motorcycle demand, as tourists often enjoy renting motorcycles during their stay in Thailand.

 

Thailand has set a motorcycle production target of 2.12 million units for 2024. From January to October, production slightly fell by 1.4% to 2.03 million units. However, there was a notable rise in CKD production, up by 57.3% to 444,849 units, even as completely built-up (CBU) production decreased by 10.8% to 1.58 million units.

 

-- 2024-12-02

 

 

[KhunLA]

Not surprising, considering the soaring prices of cars & truck, not here / TH now, but they are silly priced to begin with.   

 

If you don't need a car, scooter really are the way to go.  Electric of course 

 

If you need any range, then ICE, as long range E-MC are silly priced.   Scooter 50k-75k and way too practical.

 

A car or truck, especially new, has really become a luxury item for so many now, especially SEA.

 

Our car, inexpensive, less than 1M baht really is a frivolous expense, especially if one has to finance it.  Unless you really need to rack up the kms, or need a truck.

 

If only driving 1000 kms a month, then it really is a high price per km vs a motorcycle.

Edited 2 hours ago by KhunLA

[lordgrinz]

44 minutes ago, KhunLA said:

Not surprising, considering the soaring prices of cars & truck, not here / TH now, but they are silly priced to begin with.   

 

A car or truck, especially new, has really become a luxury item for so many now, especially SEA.

 

I live very close to the Impact Arena where the 41st International Thai Motor Expo is held, based on the lack of traffic this first opening weekend, the car market looks dead.