January data indicate recovery under way in Thai automotive industry
Thai automotive market is showing some signs of recovery as production and exports return to positive territory
New-vehicle sales in Thailand fell 12.8% year on year (y/y) in January to 59,721 units, according to data released by the Thai Automotive Institute (TAI). Despite sluggish domestic demand, production and exports returned to positive growth in the month. Total vehicle production rose 2.3% y/y to 166,400 units. Of this total, exports of completely built-up (CBU) vehicles accounted for 92,440 units, surging 14.1% y/y. Total value of vehicle exports stood at THB41.15 billion (USD1.26 billion) in the month.
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