Thailand’s auto crown under threat as Indonesia eyes Asean’s top spot
A perfect storm of slipping domestic sales and shrinking exports threaten its reign as South-east Asia’s leading car production hub
Add BT as a preferred source
[BANGKOK] Thailand’s automotive sector, which contributes approximately 10 per cent of the kingdom’s gross domestic product, is this year grappling with dual blows – plunging domestic sales and flagging exports – which threaten its long-held status as South-east Asia’s largest car production hub.
The Federation of Thai Industries slashed its 2024 production target to 1.5 million units, down from 1.7 million, marking an 18 per cent year-on-year decline – the steepest since 2020.
It cited a stagnating domestic market, with about 600,000 units expected to be sold locally, and the rest exported.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Power of payouts: A big chunk of the STI has just gone ex-dividend. What’s next?
