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Thailand’s Vehicle Exports May Stall This Year
Sluggish demand from Asia and Oceania could cause Thailand’s vehicle exports to plateau in 2016, cautions the Federation of Thai Industries.
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Sluggish demand from Asia and Oceania could cause Thailand’s vehicle exports to plateau in 2016, cautions the Federation of Thai Industries.
Thailand’s car shipments last year climbed nearly 7% to 1.21 million units, offsetting a 9% decline in domestic sales to 799,600 units, FTI says. The trade group predicts domestic sales this year will drop 3%-6%.
FTI forecast in January that the country’s car exports would rise 1%-3% this year to 1.22 million-1.24 million units. Now the group isn't so sure. It notes that shipments in January-February slipped 1% to 198,400 units. Domestic sales plunged 12% to 108,900 cars over the same period.
But the group also says a richer mix of exports caused the value of Thailand’s vehicle exports to jump 18% to 106 billion baht ($3 billion) in the first two months of 2016.
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