Thai 2014 Automobile Export: Up 0.1 Percent to 1.13 Million
- Thailand's vehicle export volume in 2014 was nearly on par with that of the previous year at 1.12 million units. Export ratio increased 14.1pp (percentage points) to 59.7 percent, partially driven up by sluggish local demand due to the country's First Car program which ate away future local demand. Export volume in 2015 is expected to remain the same as that of 2014 or may even decrease due to dull overall global demand.
- By type, passenger cars increased 5.4 percent to 413,044 units and passenger pickup vehicles rose 9.3 percent to 64,484 units. In contrast, one-ton pickup trucks fell 3.8 percent to 644,626 units. While passenger vehicles with an engine displacement of over 1,5L dropped, robust increase of smaller models maintained overall growth of passenger cars. As for one-ton pickup trucks, since the Toyota Hilux and other products were reaching the end of their model cycle, the segment declined for the second consecutive year.
- By automaker, Toyota fell 1.2 percent to 425,730 units. The expansion of export destinations of the Corolla Altis and Yaris was able to mostly counterbalance dwindling export of the IMV series which is reaching die end of its model cycle. Meanwhile, Mitsubishi Motors, AAT and Isuzu among others realized double-digit increase.
- Looking at future developments, export of the new IMV series is scheduled to start in the second half of 2015, while Honda Motor's new Prachinburi Plant is scheduled to begin export in 2016. In addition, Suzuki Motor intends to use Thailand as an export hub of the new Swift starting from 2016, indicating stepped up export activities. However, due to dull global demand in 2015,
full-scale expansion is expected to start from 2016.
full-scale expansion is expected to start from 2016.
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