Copyright FOURIN, Inc. 2024
Thailand’s Automobile Production Declines 29 Percent to 1.43 Million Units in 2020, Lowest Level Since 2011
Thailand’s automobile production in 2020 decreased 29.1% from the previous year to 1.42 million units. Although the country’s automobile production has maintained a scale of around 2 million units in recent years, due to the decline of domestic and overseas demand, and the spread of the new coronavirus infection, production has fallen to the lowest level since 2011, when production was hit by flood damage and the shortage of parts due to the Great East Japan Earthquake. Production for the domestic market fell 26.8% to 715,000 units and for exports declined 31.3% to 712,000 units. Production for exports fell sharply due to the worsening market conditions overseas. For this reason, the scale of production for the domestic market exceeded that for exports for the first time in seven years.