Thailand car production rises 4% y/y in March, exports also up
11:56 pm Monday, April 24th, 2023
BANGKOK (Reuters) – Car production in Thailand rose 4.16% in March from a year earlier to 179,848 units, as a shortage of microchips eased, the Federation of Thai Industries (FTI) said on Tuesday.
Exports of cars increased 4.84% in March from a year earlier, after February’s 11.42% rise, Surapong Paisitpattanapong, a spokesperson for FTI’s automotive industry division, told a news conference.
However, domestic car sales dropped 8.37% in March from a year earlier, after February’s 3.94% fall, due to tighter loans for trucks as interest rates rose, he said.
In February, car production rose 6.39% year-on-year.
Thailand is a regional vehicle production and export base for some of the world’s top car makers, including Toyota and Honda.
(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Kanupriya Kapoor)
