Thailand Aims to Produce 1.9 Million Cars in 2024

Thailand Aims to Produce 1.9 Million Cars in 2024

Latest Update January 29, 2024
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The Federation of Thai Industries (FTI), represented by Mr. Surapong Paisitpatanapong, Vice Chairman and spokesperson for the automotive industry group, has set ambitious production targets for the year 2024. According to the group, members have collectively aimed to manufacture approximately 1.9 million cars throughout the year, reflecting a slight increase from the previous year.

In 2024, Thailand anticipates producing an estimated 1.9 million cars, surpassing the 1,841,663 units manufactured in 2023 by 3.17%. This production figure includes approximately 1,150,000 cars intended for export, constituting 65% of the total production, and around 750,000 cars for domestic sales, making up the remaining 35%.

The export-oriented production target of 1,150,000 cars is slightly lower than the previous year's output of 1,156,035 units, representing a marginal decrease of 0.52%. Conversely, the goal for cars intended for domestic sales is set at 750,000 units, marking a notable increase of 9.39% from the 685,628 units produced for the domestic market in the previous year.

Motorcycles are also a significant focus of Thailand's automotive industry, with an estimated production target of 2,120,000 units in 2024. This figure is slightly lower than the 2,138,738 units produced in 2023, with a decrease of 0.03%. The motorcycle production is divided into approximately 420,000 units for export, accounting for 19.81% of the total production, and 1,700,000 units for domestic sales, representing 80.19%.

Regarding motorcycle production for export, the target of 420,000 units reflects a 10.73% reduction compared to the previous year. On the other hand, the goal for motorcycles intended for domestic sales is set at 1,700,000 units, showing a 3.01% increase from the previous year's production.