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Thailand's auto production plunges 19 pct in February

0 Comment(s)Print E-mail Xinhua, March 26, 2024
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BANGKOK, March 26 (Xinhua) -- Thailand's auto production continued to shrink in February due to a decline in manufacturing for the local market and higher imported electric vehicles, data from the Federation of Thai Industries (FTI) showed on Tuesday.

Thai auto manufacturers produced 133,690 vehicles last month, down 19.28 percent from a year earlier, owing to a major decline in pickup truck and internal combustion engine passenger car output, according to the FTI.

Domestic auto sales slumped 26.15 percent year on year to 52,843 units in February, weighted down by a substantial drop in pickup truck sales as banks tightened lending standards to tackle high household debts, said Surapong Paisitpattanapong, the FTI's automotive industry club vice president and spokesperson.

However, sales of hybrid electric passenger cars jumped 65.77 percent last month over the previous year to 13,190 units, while battery electric passenger cars soared 28.56 percent to 4,731 units.

The Southeast Asian country's finished car exports edged up 0.22 percent from a year earlier to 88,720 units last month, dragged by increased shipping time stemming from ongoing tensions in the Red Sea, Surapong told a news conference. Enditem

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