Thai automobile production decreased for the first time in five years Impact of US-China trade friction January 22 20:12
In Thailand, the largest automobile producer in Southeast Asia, where Japanese manufacturers have production bases, the number of vehicles produced in the past year has dropped to just over 2.01 million units due to trade friction between the U.S. and China, a decline for the first time in five years. I understand.
According to the Thai Industry Federation, the number of vehicles produced in Thailand during the past year has decreased by 7.1% from the previous year to 201,13710 units, the first decrease in five years.
This was due to a drop in exports to Australia and Europe due to trade friction between the United States and China and a slowdown in the global economy, as well as a slowdown in the domestic market, which had hitherto been strong, due to a slowdown in personal consumption.
Of this, exports were 1,054,103 units, a decrease of 7.5% compared to the previous year.
In addition, the production for one year is expected to decrease for the second consecutive year to 2 million units, which is lower than the result of last year.
Thailand is the largest automobile producer in Southeast Asia, where Japanese manufacturers such as Toyota, Honda, and Isuzu have production bases. .
"Trade friction between the United States and China and the high baht are still concerns. If the overseas automobile industry is adversely affected, it will reduce demand in Thailand," said Thai Industrial League Vice Chairman Slaphorn.