AAA weekly
2020-06-08
Copyright FOURIN, Inc. 2025
Thailand’s Automobile Exports Fall 8% YOY to 1.05 Million Units in 2019
Thailand’s automobile exports (CBUs only) decreased 7.6% year-on-year in 2019 to 1.054 million units, declining for the fourth consecutive year. Exports to Oceania, which is a major export destination of Thailand, fell sharply for the first time in seven years since 2012. The appreciation of the Thai currency since mid-2019 has adversely affected the exports of CBUs. In 2020, global demand is expected to further decline due to the new coronavirus, resulting in additional drop in exports.
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Looking at exports by vehicle type, passenger cars fell 12.6% to 367,000 units. While Mitsubishi and BMW increased passenger car exports, all other brands declined double digits. One-ton pickup trucks, whose production is concentrated in Thailand by most automakers, declined 3.0% to 593,000 units. Pickup passenger vehicles (PPVs, pickup truck-based SUVs) decreased 14.2% to 94,000 units.
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By destination, sales to exports to Thailand’s largest destination Asia fell 0.8% to 319,000 units. Exports to Oceania decreased 15.2% to 302,000 units due to the contraction of the Australian market. Elsewhere, exports to the Middle East rose 21.8% to 132,000 units, becoming the only export destination to grow in 209. Meanwhile exports to Europe, the Americas and Africa fell below the previous year’s levels.
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By brand, market-leader Mitsubishi fell 1.0% to 285,000 units. Although exports of pickup trucks fell 1.9% to 138,000 units and PPVs declined 15.3% to 34,000 units, passenger cars, which include the Mirage and Attrage, increased 5.7% to 112,000 units. For this reason, the rate of decline was minimal. Mitsubishi’s exports surpassed Toyota on a unit basis in 2019, making it the largest exporter.
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