Thailand Finance Business News & Lifestyle

Auto export seen 42.93% growth in March

The Federation of Thai Industry (FTI)’s Automotive Division released auto export data for March increased 42.93 percent compared with the same month a year ago.

FTI spokesman Surapong Paisitpatpong showed that the total vehicles export of the month was 63,949 units worth 29.85 billion baht. The increase in shipment was pushed by stronger demand from the Middle East markets.

The total vehicle export for the first quarter of the year concluded at 196,537 units with total value of 92.75 billion baht, up 41.59 percent from the same period a year ago and 46.33 percent in value.

The domestic auto production is also increased in March with total volume of 150,119 units or 129.37 percent higher than the same month last year, while domestic auto sale concluded at 63,067 units in March, up 52.6 percent from a year ago.

Mr. Surapong said the government stimulus package is seen effectively pushing the people demand for spending.

He said the FTI may need to revise the country production data on vehicle from currently estimated at 1.4 million units to be in accordance with the economic data, which may be mainly impact from political crisis and the market sentiment consequently.

Leave a Response