BANGKOK, Oct. 24 (Xinhua) -- Thailand's auto production fell in September due to the decline in manufacturing for both domestic and foreign markets amid a plunge in local sales, data showed on Tuesday.
Thai auto manufacturers produced 164,093 vehicles last month, down 8.45 percent from a year earlier, as pickup truck production dropped further owing to slowing local sales, according to the Federation of Thai Industries (FTI).
The federation downgraded its manufacturing target for the local market this year by 5.88 percent to 800,000 units as imported cars affected domestic production while sluggish economy, high household debt and interest rate hike weighed on purchasing power, the FTI said in a statement.
Domestic auto sales plummeted 16.27 percent year on year last month to 60,086 units due to a further decrease in pickup truck sales as banks tightened on loans, said Surapong Paisitpattanapong, the FTI's automotive industry club vice president and spokesperson.
In the January-September period, sales of internal combustion engine cars shrank 18.07 percent to 476,121 units, while sales of battery electric vehicles (EVs) soared 748.42 percent to 48,725 units, Surapong told a news conference.
The Southeast Asian country saw finished car exports shrinking 2.90 percent year on year last month to 97,476 units due to last year's high comparative base, as semiconductor supplies improved, according to Surapong.
The finished car export value decreased 7.49 percent year on year in September, totaling 62.45 billion baht (1.73 billion U.S. dollars), despite increased shipments to the Middle East, Europe and America markets, he said.
For the first nine months of the year, finished car exports expanded 16.34 percent year on year to 821,899 units, on course to meet the whole-year export target of 1,050,000 units, he added. ■
