Thailand’s Auto Production, Exports Picked Up In Oct

Thailand’s Auto Production, Exports Picked Up In Oct

BANGKOK, Nov 25 (NNN-TNA) – Thailand’s auto production and exports, saw an increase in Oct, driven by an easing global semiconductor shortage, data showed, yesterday.

The country’s automobile manufacturing rose 10.83 percent in Oct, from a year earlier, to 170,717 units, 57.13 percent of which were made for exports, according to the Federation of Thai Industries (FTI).

More than 1.53 million vehicles were produced in the first 10 months of this year, up 12.36 percent year-on-year, FTI auto club vice president and spokesman, Surapong Paisitpattanapong said, adding that, the manufacturing of passenger cars jumped sharply, as manufacturers received more semiconductors.

“The number of vehicles manufactured by the yearend might exceed the annual target of 1.75 million, if semiconductor supply remains stable,” Surapong said.

Some 800,672 units of finished cars were exported in the Jan-Oct period, up 5.48 percent year-on-year, with a value of 497.28 billion baht (13.89 billion U.S. dollars), up 18.91 percent from the same period last year, according to the FTI data.

The Thai government’s subsidies have helped boost domestic sales of electric vehicles. In Oct alone, 1,960 battery electric vehicles (BEV) were registered, a 288.89-percent increase from one year earlier, Surapong said.– NNN-TNA


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