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Thailand’s Vehicle Production Dropped 18.1% to 1.69 Million Units in 2021
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Thailand's vehicle production increased 18.1% year-on-year to 1,685,705 units. Domestic demand declined for the second consecutive year since 2020 due to the spread of the pandemic. Production for export is recovering, driven by market recovery of a major export destinations such as Australia. Passenger vehicle sales increased 10.6% to 599,844 units, while sales of commercial vehicles ascended 22.7% to 1,085,861 units.
The Federation of Thai Industries announced in January 2022 that production is forecast to reach 1.8 million units in 2022. In the coming years, production is expected to gradually recover toward the normal scale of around 2 million units.