Thai car exports witnessed a 12.2% surge in October, reaching 105,726 units, thanks to the escalating demand for pickups primarily in the Middle East. However, domestic sales didn’t keep pace, suffering from the burden of high household debt.
The Federation of Thai Industries (FTI)’s Automotive Industry Club reported robust sales in other markets last month, including Australia, Europe, North America, and South America. Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for the auto club, noted the growth potential in car exports, citing the improving economies of trading countries and strong consumer purchasing power overseas, unburdened by high household debt.
In contrast, the domestic market in Thailand is grappling with dwindling car sales due to high debt levels, forcing banks to impose stricter criteria for auto lending to…
