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FTI cuts Thailand’s 2024 car production target to 1.7 million units; negative factors revealed

production in 2024 downward from 1.9 million units to 1.7 million units. The targeted vehicle production for exports stays at 1.15 million units, while production for local sales has been lowered from 750,000 units to 550,000 units. The (negative) factors affecting domestic sales, according to the FTI, are; Household debt that has already exceeded 90% of Thailand’s GDP and the low household income following the slow economic growth. Foreign...

News Updated at: 2024/07/25

Thailand FTI expects boost from automotive sector to increase local steel sales in 2020

he automotive industry to recover after exports slumped in 2019 because of a strong baht, adding that the automotive sector, which includes agricultural machinery, requires about 40% or 7.6 million tons of total production capacity from the nation's premium and commodity steel segment. According to FTI, in 2019, the automotive sector was forecast to bottom out, but sales are expected to pick up again in 2020. The automotive industry is the only s...

News Updated at: 2020/01/07