Car Manufacture in Thailand Soars in May, Increasing Local Sales

Car manufacture in Thailand has increased, including its domestic sales, thanks to the readily-available microchip.

In May, car manufacture in Thailand surged to 16.48% from the previous year to 150,532
units. The volume of vehicle production escalated due to the much-awaited availability of microchip.

Increased Car Manufacture in Thailand Boosted Local Sales

The rise in car manufacture in Thailand in May boosted its local sales, which ascended to 16.48%. April sales plunged to 6.14% but jumped to 0.55% year-on-year to 65,088 vehicles in May. The availability of microchip made it possible. On the other hand, truck sales narrowed because of stricter car loans.

Thailand became a regional auto production and export base for some global car producers, including Honda, Toyota, and Nissan. The country has become a prominent auto manufacturing centre in the Southeast region and beyond for decades. Most chief car manufacturers from Asia, Europe, and the US are expanding their businesses in the country.

The car industry, including accessories and parts, continues to be one of Thailand’s most significant export products. It accounts for over 10% of the total export value each year.

Tesla Cars for Sale in Thailand

Tesla will try its luck in the Thai market and sell its electric vehicles. It will rival cars that run on gas or diesel, driven by humans. Currently, the EV company has been restoring a defunct Toyota showroom in Bangkok’s eastern part. It will function as the latest EV warehouse, with its doors soon to open to customers.

“In addition to a showroom, the five-floor facility will include a service center, a parts warehouse and fast-charging stations,” a report said.

Since December, Tesla has been selling its Model Y midsize sport utility vehicle in Thailand. Likewise, it’s selling its Model 3 sedan through an online sales portal.

The EV Thai market keeps developing as both government and carmakers offer incentives. they encourage buyers to switch to EVs to help grow the market. Prime Minister Prayut Chan-o-cha contemplated that half of the vehicles on the roads in Thailand would soon be EVs.

With the rise in EV manufacture, other companies in Thailand started making batteries. Some began establishing charging stations and networks for nationwide expansion.

Image Source: Brian Snelson/WikimediaCommons