Thailand's auto production, exports pick up in October-Xinhua

Thailand's auto production, exports pick up in October

Source: Xinhua| 2022-11-24 22:14:30|Editor: huaxia

BANGKOK, Nov. 24 (Xinhua) -- Thailand's auto production and exports saw an increase in October, driven by an easing global semiconductor shortage, data showed on Thursday.

The country's automobile manufacturing rose 10.83 percent in October 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 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 January-October 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 of last year, according to the FTI data.

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