Car Production in February 2024 totaled 133,690 units

Car Production in February 2024 totaled 133,690 units

Latest Update March 26, 2024
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In February 2024, Thailand produced a total of 133,690 vehicles, a decrease of 19.28% from the same period last year. This was due to a decrease in both exports and domestic sales, by 9.25% and 32.96% respectively. 

March 26, 2024 - Mr. Surapong Paisitpatanapong, Vice-Chairman and the spokesman for the Automotive Industry Group, the Federation of Thai Industries (FTI), in the press conference, revealed the total production for all vehicles in Februaryr 2024.

Total car production

The total number of cars produced in February 2024 was 133,690 units, a decrease of 19.28% compared to the production volume in February 2023 and a decrease of 5.92% from January 2024. This decrease is due to a reduction in exports and domestic sales by 9.25% and 32.96%, respectively. The decrease in exports is attributed to a decrease in pickup truck production, as some companies lacked certain components. The decrease in domestic sales is attributed to a decrease in passenger car production, as it was affected by the import of electric vehicles for tax incentives, as well as a decrease in pickup truck production due to a decrease in sales from the strict credit lending policies of financial institutions.

Total production of 133,690 vehicles in February 2024, composed of:

- Passenger car production at 50,441 units, 14.56% decrease (YoY) 

  • Internal Combustion Engine at 29,587 units, 34.25% decrease (YoY)
  • Battery Electric Vehicle at 766 units, an increase of 1,602.22% (YoY)
  • Plug-in Hybrid Electric Vehicle at 541 units, 52.96% decrease (YoY)
  • Hybrid Electric Vehicle at 19,547 units, 52.19% increase (YoY)

- Bus under 10 tons and over 10 tons were not produced in February 2024. From January to February 2024, only 10 units were produced, a decrease of 58.33% compared to the previous year.
- Truck at 83,249 units, 21.88% decrease (YoY)
- 1 Ton Pickup truck at 80,252 units, 22.77% decrease (YoY)
- Pickup truck less than 5 tons – over 10 tons, at 2,997 units, 13.35% increase
 (YoY)

Car production for export

In February 2024, the car production for export totaled 86,762 units, representing 64.90% of the total production, an increase of 9.26% (YoY)

- Passenger cars produced for export totaled 25,497 units, an increase of 0.71% (YoY)
- One-ton pickup truck for export at 61,265 units, 12.85% decrease (YoY)

Car production for domestic use

In February 2024, there were 46,928 units produced for domestic use, representing 35.10% of the whole production or a decrease of 32.96% (YoY)

- The production of passenger cars for domestic sales was 24,944 units, a decrease of 26.03% (YoY)
- One-ton pickup truck at 18,987 units, 43.52% decrease (YoY)

 

Read more: Car production in January 2024