Thailand produces more than 178,000 vehicles in Feb
Domestic vehicle production expanded 15.37% year-on-year in February to more than 178,000 units, according to the Federation of Thai Industries (FTI).
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Surapong Paisitpatnapong, spokesman for the FTI's Automotive Industry Club, said a total of 178,237 cars were produced in February 2018. The number of vehicles manufactured for export stood at 98,625 units, an increase of 13.33%.
Furthermore, vehicle exports in February rose for the 4th consecutive month to 102,217 units, accounting for a 4.05% increase. Major buyers were Middle Eastern countries, the US, and South America.
Also in February, domestic car sales surged 10.3% to 75,466 vehicles. Surapong cited the Thai economic recovery as the main reason.
Should the trend continue, the spokesperson believes vehicle production will be around 2 million units this year, 1.1 million units for export and 900,000 units for domestic sales.