The 3.17% Rise in Car Production in Thailand: 2024 Outlook

The Federation of Thai Industries (FTI) predicted a 3.17% rise in Thailand’s car production this year, reaching an estimated total of 1.9 million units. This projection comes despite the less-than-anticipated total car production of 1.84 million units last year, falling short of the 1.85 million units target.

According to Surapong Paisitpatanapong, Vice-Chairman and spokesperson for the FTI’s Automotive Industry Club, car production for export is forecasted at 1.15 million units in 2024. Domestic sales are also expected to contribute to the total with an estimated 750,000 units.

“Should the government’s stimulus measures successfully augment purchasing power, the economy in 2024 is projected to improve.”

However, he also shared concerns about potential obstacles for Thai manufacturers aiming to sell their cars abroad. Countries such as Laos have introduced higher excise…