InfoQuest, (October 19, 2019) -- The export volume of cars recorded 97,540 units in September 2019, down 6.36 percent from the same period last year, according to Surapong Paisitpatnapong, vice chairman and spokesman of the Automotive Industry Club of the Federation of Thai Industries (FTI). Most shipment destinations reduced car orders from Thailand. Only shipments to Asia and the Middle East showed growth in September. This was mainly due to the growth slowdown of both the global economy and Thailand's major trading partners as a result of the US-China trade war. Total vehicle exports value dropped 51.70721 billion baht this month, down 4.96 percent on the same month last year.
In the first nine months of this year, Thailand's vehicle exports reached 821,101 units, down 4.39 percent from the same period last year, with a total value of 422.93691 billion baht, down 6.2 percent year on year.
Due to the stricter examination and approval of financial institutions on auto loan and widespread floods in many provinces, domestic car sales recorded 76,195 in September, down 14.1 percent from the same month last year and 5.7 percent from August. In the first nine months of this year, domestic auto sales amounted to 761,847 units, with an increase of 2 percent over the same period last year.
Auto production in September was 169,474 units, down 7.49 percent from September 2018, but up 1.87 percent from August 2019. The overall decline was caused by the production slump in passenger cars and pickup vehicles, down 14.72 percent and 4.67 percent respectively, and the drop in domestic sales of these two, which decreased by 1.578 percent and 12.12 percent respectively.
Total auto production reached 1,572,627 units in the first nine months of this year, declining 1.96 percent year on year, including 91,119 units for export and 78,355 units for domestic sales, down 8.24 percent and 6.59 percent respectively.
Source: InfoQuest, by Nisarat Wichiensri / Rachada / Sasithorn, translated by Xinhua Silk Road
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
