Visitors view an Aion Hyptec HT electric car during a media preview of the Thailand International Motor Expo 2024 in Nonthaburi, Thailand, Nov. 28, 2024. - Xinhua
BANGKOK: Thailand's auto production continued its contraction in January due to lower domestic sales and exports, data from the Federation of Thai Industries (FTI) showed on Monday (Feb 24).
Thai auto manufacturers produced 107,103 vehicles last month, down 24.63 per cent from a year earlier and steeper than a 17.37 per cent drop in December 2024 as output of internal combustion engine passenger cars plunged, according to the FTI.
Domestic auto sales slumped 12.26 per cent year-on-year to 48,092 units in January as financial institutions maintained strict lending practices on the back of elevated household debt and sluggish economic growth, said FTI Automotive Industry Club spokesperson Surapong Paisitpattanapong.
The Southeast Asian country's finished car exports dived 28.13 per cent from a year earlier to 62,321 units in January, owing to concerns over trade policies and fewer working days, Surapong told a news conference. - Xinhua
