Bangkok – Thailand last month produced more than 193,000 vehicles, an increase of 13.94% compared to the same month of 2017, according to the Federation of Thai Industries (FTI).
Surapong Paisitpatnapong, acting vice chairman of the FTI’s Automotive Industry Club, revealed that a total of 193,130 vehicles were produced in May, of which 98,875 units were shipped overseas, accounting for a rise of 9.75% year-on-year. May was the seventh consecutive month Thailand saw an increase in auto exports.
In May, 90,320 vehicles were produced for the domestic market while the actual number of units sold was 84,965 vehicles, a surge of 27.9% year-on-year. Surapong attributed the domestic sales increase to higher consumer confidence and attractive auto campaigns.
Should the country be able to maintain the monthly increase in vehicle production at the rate of 3-4%, Surapong believes Thailand will meet this year’s target of 2 million vehicles, of which 1.1 million units will be sold to overseas buyers and 900,000 to domestic consumers.