Thailand car production falls 23% in March

The FTI expects car sales to improve in the second half of the year due to increased spending, government stimulus measures and tourism recovery.

March exports of completed cars fell 3.35% YOY but were up 7.18 % from February.

The FTI said exports remain robust driven by growing sales in Australia, the Philippines, the United States, Mexico, UK, and other major trading partners.

Total auto export value amounted to 67.926 billion baht, up 12% on March 2023.

The federation forecasts total production of 1.9 million vehicles this year, up from 1.84 million last year as more electric-vehicle plants come online.