BANGKOK, March 25 (Xinhua) -- Thailand's auto production extended its negative trend in February, largely due to a persistent decline in domestic sales, data from the Federation of Thai Industries (FTI) showed on Tuesday.
Thai auto manufacturers produced 115,487 vehicles last month, down 13.62 percent from a year earlier and easing from a 24.63 percent plunge in January, dragged down by the output of passenger cars with internal combustion engines, according to the FTI.
For the first two months of 2025, auto production slumped 19.29 percent over the previous year to 222,590 units, despite a strong growth in plug-in hybrid and pure electric vehicles, said FTI Automotive Industry Club spokesperson Surapong Paisitpattanapong.
Domestic auto sales dropped 6.68 percent year-on-year to 49,313 units in February as financial institutions maintained strict lending practices, particularly for pickup trucks, amid high household debt, Surapong told a news conference.
However, the government's initiative to offer a credit guarantee for pickup truck loans should help ease high rejection rates, as the kingdom seeks to boost its flagging automotive sector, Surapong said.
The Southeast Asian country's finished car exports fell 8.34 percent from a year earlier to 81,323 units in February, owing to a production slowdown caused by the model changeover and concerns over trade policies, he said. ■
