Thai Car Production Up 2.75% Year-On-Year in December 2022

The Federation of Thai Industries (FTI) has reported that car production in Thailand rose 2.75% in December from a year earlier to 158,606 units, following a 15% rise in the previous month.

FTI’s automotive industry division spokesperson Surapong Paisitpattanapong said in a news conference that car production increased by 11.73% to 1.88 million vehicles in 2022.

According to FTI, car exports rose 10.17% from a year earlier to 111,605 vehicles in December. However, domestic car sales dropped 9.02% from a year earlier to 82,799 units due to a lack of semiconductors in some car models and flooding in parts of the country.

The FTI added that domestic car sales increased 11.89%, while exports increased 4.28% in 2022.

Thailand is a regional vehicle production and export base for some of the world’s top car makers, including Toyota and Honda. The industry accounts for about 10% of the Thai economy and its manufacturing jobs.