In March 2024, Thailand produced 138,331 cars, down 23.08% from March 2023. This drop was due to reduced domestic production and sales, particularly in pickup trucks and passenger cars, which decreased by 41.01% following stricter credit approvals.

March 26, 2024 - Mr. Surapong Paisitpatanapong, Vice-Chairman and the spokesman for the Automotive Industry Group, the Federation of Thai Industries (FTI), in the press conference, revealed the total production for all vehicles in March 2024.

Total car production

The total number of cars produced in March 2024 was 138,331 units, a decrease of 23.08% from March 2023, but it increased from Febraury by 3.47%. This decrease is due to a reduction in domestic production and sales, with a 41.01% decrease in the production of pickup trucks and passenger cars, following a decline in domestic sales resulting from stricter credit approvals by financial institutions. Additionally, the production of electric vehicles in Thailand is still limited because some car factories are not yet ready. It is expected that the production of electric vehicles will increase in the third quarter

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Total production of 138,331 vehicles in March 2024, composed of:

- Passenger cars: 52,099 units, 18.39% decrease (YoY) 

• Internal Combustion Engine: 31,684 units, down 34.39% (YoY)
• Battery Electric Vehicle: 1,226 units, an increase of 2,965% (YoY)
• Plug-in Hybrid Electric Vehicle: 606 units, showing a 29.29% decrease (YoY)
• Hybrid Electric Vehicle: 18,583 units, marking a 26.84% increase (YoY)

- Buses under 10 tons and over 10 tons were not produced in March 2024. Only 10 units were produced from January to March 2024, a decrease of 68.75% compared to the previous year.
- Trucks: 86,232 units, down 26.34% (YoY)
- 1 Ton Pickup trucks: 83,210 units, down 26.34% (YoY)
- Pickup truck less than 5 tons – over 10 tons: 3,022 units, rose 0.26% (YoY)

Car production for export

In March 2024, the car production for export totaled 91,808 units, representing 66.37% of the total production, a decrease of 9.09% (YoY)

- Passenger cars produced for export totaled 28,719 units, an increase of 10.97% (YoY)
- One-ton pickup truck for export at 63,089 units, down 16% (YoY)

Car production for domestic use

In March 2024, there were 46,523 units produced for domestic use, representing 33.63% of the whole production, as well as a decrease of 41.01% (YoY)

- The production of passenger cars for domestic sales was 23,380 units, a decrease of 38.41% (YoY)
- One-ton pickup truck at 20,121 units, 46.86% decrease (YoY)

Read more: Car production in February 2024