Thailand: Domestic car sales rise 15.64% y/y in Sept

Domestic car sales in Thailand rose 15.64% in September from a year earlier to 74,150 units, helped by an economic recovery and new car models, the Federation of Thai Industries (FTI) said on Thursday.

That compared with August’s 61.72% year-on-year jump. In the January to September period, car sales increased 19.13% from a year earlier.

Car sales should meet a target of 850,000 vehicles in the whole of 2022 and could reach 900,000 vehicles if a shortage of microchips eases, the FTI said.

Thailand is a regional vehicle production and export base for the world’s top carmakers, including Toyota and Honda.

Car production in Thailand rose 27.99% in September from a year earlier to 179,237 units, compared with August’s 64.90% year-on-year surge.

In September, car exports jumped 35.97% from a year earlier to 100,389 unit, the FTI said.

The industry accounts for about 10% of Southeast Asia’s second-largest economy and its manufacturing jobs.