Thailand’s car production experienced a significant downturn of 23.08% in March compared to the same period last year, producing only 138,331 units, according to data from the Federation of Thai Industries (FTI). This follows a year-on-year decline of 19.28% in February.
Over the first quarter of the year, car production has decreased by 18.45% year-on-year, amounting to 414,123 units.
According to the FTI, these falling figures are largely due to a decrease in pick-up truck production, spurred by softer demand as financial institutions tighten auto loans. In March, domestic car sales decreased by 29.83% year-on-year, following a decrease of 26.15% from the previous month.
Thailand, Southeast Asia’s largest auto production centre, serves as an export base for several of the world’s leading car manufacturers, including Toyota…
