Business News Asia
According to the Federation of Thai Industries (FTI), Thai car sales rose 15.64% year-on-year to 74,150 units in September, driven by the economic recovery and new models.
In August, the increase had been 61.72% compared to the same month last year. From January to September, car sales increased by 19.13% year-on-year.
The RTI said automobile sales would reach the target of 850,000 vehicles by 2022, and possibly 900,000 if the shortage of microchips improved.
Thailand is a regional location for the manufacture and export of vehicles for the world’s leading automakers such as Toyota and Honda.
Auto production in Thailand rose 27.99% year-on-year in September to 179,237 units, compared with a 64.90% year-on-year increase in August.
According to FTI, car exports in September increased by 35.97% year-on-year to 100,389 vehicles.
The industry accounts for about 10% of Thailand’s economy and manufacturing jobs.