Thailand car production rises 4% y/y in March, exports also up

BANGKOK, April 25 (Reuters) – Car production in Thailand rose 4.16% in March from a year earlier to 179,848 units, as a shortage of microchips eased, the Federation of Thai Industries (FTI) said on Tuesday.

Exports of cars increased 4.84% in March from a year earlier, after February’s 11.42% rise, Surapong Paisitpattanapong, a spokesperson for FTI’s automotive industry division, told a news conference.

However, domestic car sales dropped 8.37% in March from a year earlier, after February’s 3.94% fall, due to tighter loans for trucks as interest rates rose, he said.

In February, car production rose 6.39% year-on-year.

Thailand is a regional vehicle production and export base for some of the world’s top car makers, including Toyota (7203.T) and Honda (7267.T).

Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Kanupriya Kapoor

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