Reported on October 22, 2021, the Federation of Thai Industries (FTI) expects 2021 car production to surpass 1.6 million units targeted earlier, following the dropping COVID-19 cases and an easing of the chip shortage situation. Though car production in September declined 6.4% YoY, production prospects are still expected to get better.
According to FTI, the state lockdown easing encouraged people to purchase new cars and not to delay plans to receive cars at showrooms. The government will also reopen the tourism industry, allowing fully vaccinated tourists from low-risk countries to enter Thailand without quarantine from November 1, leading to more lively business atmosphere.
The FTI is also positive about car production as semiconductor makers are supplying more chips to car companies in Thailand. Yet, the automotive club said it would continue to keep monitoring the pandemic situation and a potential global chip shortage, as unexpected events may occur.
(From FTI Announcement and an article of Bangkok Post on October 22, 2021)