Impacted by the Covid-19 pandemic, the Federation of Thai Industries (FTI) said automobile production fell to the lowest level in 30 years in April. Down 83.55 percent year-on-year, the FTI said only 24,711 automobiles were produced in April.
For export, the number of vehicles produced had slumped 81.76 percent. For domestic consumption, the number produced was down 85.35 percent.
Down 65.02 percent year-on-year due to the drop in people's purchasing power, the domestic sale of cars in Thailand was at 30,109. Down 69.71 percent year-on-year, the export of automobiles was at 20,326.
For the automotive industry, the production target has been cut by the FTI to just 1 million, from 2 million. Since the Covid-19 pandemic had led to a massive drop in orders from overseas, 69.5 percent of businesses are concerned about the global economic situation, according to FTI's survey.
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Published on May 22, 2020 4:52 PM (GMT+8)Last Updated on May 22, 2020 4:52 PM (GMT+8)
