February’s car exports grow by 11.32 per cent

[Thaivisa News]

Bangkok: – The country saw the export growth of 11.32 per cent for assembled vehicles last month due to rising demands in key markets like Australia, Europe and North, Central and South Americas.

The export revenues for 108,173 vehicles amounted to 47.5 billion baht, an increase of 3.21 per cent, said Surapong Paisitpattanapong, spokesman for FTI’s Automotive Industry Club.

For this year’s first two months, the car exports rose 12.58 per cent to 200,613 vehicles worth 88.7 billion baht.

The last month’s domestic car sale dropped 10.8 per cent to 63,948 vehicles due to tightening bank loans and slackened economy caused by lowering commodity prices, slowing-down investment and lower-than-expected government spending.

The first two months of this year saw the production of 344,751 vehicles, an increase of 2.56 per cent in comparison to the same period last year.

From March to May, the projection for car and motorcycle production is 489,270 vehicles. This is going to be an increase of 33,195 vehicles or 7.28 per cent from the actual production of the same period last year.

This year’s projection for car production is expected to reach 2.15 million vehicles, an increase of 269,993 vehicles or 14.36 per cent.

Of the total car production, 1.2 million vehicles will be destined for exports and 950,000 vehicles for domestic markets.

The growth for this year’s car production is targeted at 6.94 per cent for exports and 25.35 per cent for domestic consumption.

To achieve export target, the automotive industry is hoping for the steady improvement in Australian markets and the continuing demands for eco car.

[jerojero]

Not surprising even in the face of strong baht currency. And now Ford wants to set up shop in Thailand also. Why? Because Ford auto plant workers in North America earn equivalent of 12000 baht per day! Thai daily wages 300. Duh.

Edited March 25, 2015 by jerojero

[chooka]

If Australia had the same import taxes as Thailand then I doubt they would be exporting there and Australia would still have an auto industry and jobs.