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Thailand’s automobile exports remain gloomy

Thailand’s automobile exports are likely to drop for a second straight year, after the sector has reported negative growth rates for 12 consecutive months, says the Federation of Thai Industries.
Thailand’s automobile exports remain gloomy ảnh 1Thailand exports 93,086 vehicles in June (Source: bangkokpost)
Bangkok (VNA) – Thailand’s automobile exports arelikely to drop for a second straight year, after the sector has reportednegative growth rates for 12 consecutive months, says the Federation of ThaiIndustries.

In June, vehicle exports fell by 13 percent to 93,086 units,with decreases seen in all markets, while the total turnover also dropped 13.6percent to 49.7 billion THB (1.4 billion USD).

During January-June, Thailand sold a total of 536,406vehicles, earning 283.6 billion THB (8.4 billion USD), down 9.8 percent involume and 11.1 percent in value.

Economists said that the economic situation in some regionshas not performed well, which is putting pressure on Thailand’s auto exports.

The country expects to ship abroad nearly 1.1 million unitsthis year, down from 1.2 million units as predicted earlier.

Car exports started to fall in 2016, when the figure fell by1.4 percent to 1.18 million units. But 2016 export value still rose by 6.6percent to 631.9 billion THB (18.8 billion USD), thanks to increased shipmentsof high-priced passenger pickup vehicles.

Meanwhile, domestic car sales rose by 5.7 percent to 69,794units in June, thanks to better market sentiment spurred by several new carmodels.

From January to June, domestic sales totalled 409,976vehicles, up 11.2 percent year-on-year.-VNA
VNA
#Thailand#automobile exports#Federation of Thai Industries#second straight year#12 consecutive months#Vietnamplus#Vietnam News
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