Domestic car or truck income found slipping 5.3% this 12 months

Domestic auto gross sales may possibly fall 5.3% this yr, right after a 21.4% slump very last 12 months, amid a recent outbreak of the coronavirus, the Federation of Thai Industries (FTI) explained on Wednesday.

Gross sales are specific at 750,000 vehicles in 2021 soon after 792,146 vehicles offered last calendar year, the FTI mentioned.

Thailand is a regional car generation and export base for the world’s leading carmakers.

Vehicle production is envisioned at 1.5 million motor vehicles this 12 months, 50 percent of which would be exported and the other fifty percent bought domestically. That compares to the 1.43 million produced final yr.

“We are nonetheless fearful about next or third coronavirus waves in some nations whilst Thailand has a second wave,” Surapong Paisitpattanapong, spokesman of the FTI’s automotive industry division, advised a information briefing.

“There is also a chips scarcity, making some carmakers quit manufacturing temporarily. Car or truck exports could not expand this year,” he reported.

Vehicle exports plunged 30.19% very last 12 months.

The FTI’s Thai industries sentiment index fell in December for the very first time in eight months because of to fears more than the outbreak and the condition of the Thai and world economies, it mentioned.

Nevertheless, domestic car income rose for a next thirty day period in December, up 11.3% from a calendar year earlier to 104,089 autos, just after a 2.7% increase the former month, it mentioned.

“Profits in December had been incredibly very good,” Mr Surapong explained, including individuals had been boosted by federal government stimulus, launches of new automobile styles and advertising campaigns.

Thailand’s coronavirus cases have tripled in the previous five weeks to 12,653, with 71 deaths recorded because a year in the past.

The federal government on Tuesday approved $7 billion in new stimulus to mitigate the outbreak affect on the economy.