Thailand’s car exports surge 25% as semiconductor supply situation improves
Thailand exported as many as 86,000 cars in January, increasing by 24.8% compared to the same period last year, as semiconductor shortage has started to ease, according to the Federation of Thai Industries (FTI).
FTI vice president and spokesman Surapong Paisitpattanapong said that cars were exported to different regions, including Asia, the Middle East, Africa, Europe, and North America.
He said that by the end of this year, Thailand is expected to export 1.05 million cars.
The demand for pickup trucks, which are the most exported vehicle type, would rise as the world economy enters a recovery phase, he added.
Surapong said that car exports to Thailand’s main markets would continue to flourish as the impediment to the country’s car exports were shortage of semiconductors and insufficient cargo ships, rather than a global economic downturn.
Last month, 157,844 cars were manufactured, up 4.02% over January of last year, as the country got more supply of semiconductors, he added.
He said that as many as 65,579 cars were sold domestically in January this year, down 5.58% compared to January 2022.
Rising car material costs, shortage of semiconductors and expensive energy, particularly electric bills, are pushing up car prices. However, car manufacturing companies have come up with marketing strategies to help customers, he added.
