ส.อ.ท. เผยยอดส่งออกรถยนต์ ก.พ. จำนวน 88,720 คัน โต 0.22%FTI Reports February 2024 Automobile Exports at 88,720 Units, Growth of 0.22%

On Tuesday, March 26, 2024, Mr. Surapong Paisitpatanapong, Vice President and Spokesman of the Automotive Industry Group of the Federation of Thai Industries (FTI), disclosed the production figures, domestic sales, and export data for cars and motorcycles in February 2024. The export of complete automobiles in February 2024 totaled 88,720 units, representing an increase of 2.31% from the previous month and a growth of 0.22% compared to February 2023. This included 81,644 Internal Combustion Engine (ICE) vehicles, a decrease of 7.07% from 2023, and 7,076 Hybrid Electric Vehicles (HEV), an increase of 951.41% from the previous year.

Production

The total number of vehicles produced in February 2024 was 133,690 units, down 19.28% from February 2023, and decreased by 5.92% from January 2024. This decline was attributed to reductions in both export production and domestic sales by 9.25% and 32.96%, respectively. Export production decreased due to a decline in pickup truck production as some manufacturers faced shortages of specific components, while domestic production of passenger vehicles declined due to competition from imported electric vehicles capturing market share. Additionally, pickup truck production was affected by reduced sales as financial institutions tightened credit approvals.

The combined production of vehicles in January-February 2024 was 275,792 units, a decrease of 15.90% from the same period in 2023.

In February 2024, passenger vehicles produced totaled 50,441 units, down 14.56% from February 2023, divided as follows:

• Internal Combustion Engine passenger vehicles: 29,587 units, a decrease of 25% from February 2023
• Battery Electric Vehicles: 766 units, an increase of 1,602.22% from February 2023
• Plug-in Hybrid Electric Vehicles: 541 units, down 96% from February 2023
• Hybrid Electric Vehicles: 19,547 units, an increase of 19% from February 2023

YTD production of passenger vehicles from January-February 2024 was 102,950 units, accounting for 37.33% of total production, a decrease of 10.99% compared to the same period in 2023, divided as follows:

• Internal Combustion Engine passenger vehicles: 62,239 units, down 58% from February 2023
• Battery Electric Vehicles: 1,421 units, an increase of 2.69% from February 2023
• Plug-in Hybrid Electric Vehicles: 942 units, a decrease of 0.8% from January-February 2023
• Hybrid Electric Vehicles: 38,348 units, an increase of 41% from January-February 2023

In February 2024, there was no production of passenger vehicles under 10 tons and above 10 tons. From January-February 2024, there were 10 units produced, down 58.33% from the previous year. In February 2024, the production of trucks totaled 83,249 units, a decline of 21.88% from February 2023, and from January-February 2024, a total of 172,832 units were produced, a decrease of 18.57% from the previous year.

In February 2024, the production of one-ton pickups totaled 80,252 units, down 22.77% from February 2023, and from January-February 2024, a total of 167,040 units were produced, accounting for 60.57% of total production, decreasing 19.41% from the same period last year, divided as follows:

• Regular pickups: 30,522 units, down 32% from January-February 2023
• Double cab pickups: 106,461 units, down 97% from January-February 2023
• Pickup SUVs (PPV): 30,057 units, down 43% from January-February 2023

For trucks weighing less than 5 tons to over 10 tons, production in February 2024 totaled 2,997 units, an increase of 13.35% from February 2023. From January-February 2024, production totaled 5,792 units, down 16.14% from the previous year.

Production for Export

In February 2024, production for export amounted to 86,762 units, representing 64.90% of total production, a decrease of 9.26% from February 2023. For January-February 2024, production for export totaled 181,872 units, accounting for 65.95% of total production, which was a decrease of 2.82% compared to the same period in 2023.

In February 2024, passenger vehicles produced for export totaled 25,497 units, an increase of 0.71% from February 2023. From January-February 2024, the total production for export was 53,086 units, representing 51.56% of total passenger vehicle production, up 0.67% from January-February 2023.

One-ton pickups produced for export in February 2024 totaled 61,265 units, down 12.85% from February 2023. From January-February 2024, production for export reached 128,786 units, representing 77.10% of total pickup production, which is a decrease of 4.18% from January-February 2023, divided as follows:

• Regular pickups: 11,926 units, down 98% from January-February 2023
• Double cab pickups: 91,578 units, down 68% from January-February 2023
• Pickup SUVs (PPV): 25,282 units, an increase of 70% from January-February 2023

Production for Domestic Sale

In February 2024, production for domestic sales amounted to 46,928 units, accounting for 35.10% of total production, down 32.96% from February 2023. From January-February 2024, a total of 93,920 units were produced for domestic sales, representing 34.05% of total production, a decrease of 33.29% year-on-year.

In February 2024, passenger vehicles produced for domestic sales totaled 24,944 units, down 26.03% from February 2023. From January-February 2024, a total of 49,864 units were produced for domestic sales, representing 48.44% of total passenger vehicle production, which was a decrease of 20.76% from January-February 2023.

For one-ton pickups in February 2024, the production for domestic sales reached 18,987 units, down 43.52% from February 2023. From January-February 2024, a total of 38,254 units were produced for domestic sales, accounting for 22.90% of total pickup production, a decline of 47.49% compared to January-February 2023, divided as follows:

• Regular pickups: 18,596 units, down 52% from January-February 2023
• Double cab pickups: 14,883 units, down 56% from January-February 2023
• Pickup SUVs (PPV): 4,775 units, down 35% from January-February 2023

Motorcycles

In February 2024, a total of 215,760 motorcycles were produced, down 1.74% from February 2023. This consists of 175,770 complete built-up (CBU) motorcycles, a decrease of 6.64% from the previous year, and 39,990 motorcycle kits (CKD), an increase of 27.73% from last year.

The total motorcycle production for January-February 2024 was 440,349 units, a decline of 3.73% from 2023, with 353,592 complete built-up (CBU) motorcycles, a year-on-year decrease of 7.48%, and 86,757 motorcycle kits (CKD), an increase of 15.34% from the previous year.

Sales

Domestic sales of automobiles in February 2024 totaled 52,843 units, a decrease of 3.60% from January 2024, and down 26.15% from the same month last year due to drops in sales of pickups and passenger cars by 43.2% and 20.1%, respectively, as a result of stricter credit approvals under responsible lending policies and high household debt. Additionally, sales of PPVs decreased by 47.6% due to a shift towards purchasing HEV passenger vehicles as they are more affordable, alongside the country's economic growth remaining low due to delays in the 2024 budget projections until April, leading to reduced government spending and investment.

Sales figures are detailed as follows:

• Passenger vehicles and SUVs: 31,536 units, accounting for 59.68% of total sales, down 9.14% from the same month last year
• Internal Combustion Engine (ICE) passenger vehicles: 13,360 units, 28% of total sales, down 41.38% compared to last year
• Battery Electric Vehicles (BEV): 4,731 units, 95% of total sales, an increase of 28.56% compared to the previous year
• Plug-in Hybrid Electric Vehicles (PHEV): 255 units, 48% of total sales, a decrease of 8.93% from last year
• Hybrid Electric Vehicles (HEV): 13,190 units, 96% of total sales, an increase of 65.77% from last year

For pickups, sales totaled 15,535 units, down 43.15% from the same month last year. PPVs amounted to 3,304 units, reflecting a decrease of 47.61% year on year. Trucks weighing 5 to 10 tons totaled 1,471 units, down 28% from last year, while other vehicle types amounted to 997 units, a decline of 14.42% from the previous year.

In terms of motorcycles, sales reached 143,663 units, down 6.71% from January 2024 and down 11.78% year on year.

From January to February 2024, automobile sales totaled 107,657 units, a decline of 21.49% from the same period in 2023, detailed as follows:

• Passenger vehicles and SUVs: 65,900 units, accounting for 61.21% of total sales, up 0.60% year on year
• ICE passenger vehicles: 27,668 units, 70% of total sales, down from 37.38% compared to last year
• BEV passenger vehicles: 14,575 units, representing 54% of total sales, a rise of 111.97% year on year
• PHEV passenger vehicles: 303 units, 28% of total sales, down 48.03% from last year
• HEV passenger vehicles: 23,354 units, 69% of total passenger vehicle sales, an increase of 68.46% year on year

For pickups, sales amounted to 30,399 units, down 43.31% from the same month last year. PPVs reached 6,378 units, reflecting a decline of 45.87% year on year. Vehicles weighing 5 to 10 tons totaled 3,015 units, a decrease of 16.94% compared to last year, while other vehicle types accounted for 1,965 units, down 24.13% year on year.

In the motorcycle segment, total sales for January-February 2024 reached 297,666 units, a drop of 7.59% from January-February 2023.

Exports

Complete Automobiles

In February 2024, a total of 88,720 complete automobiles were exported, an increase of 2.31% from the previous month and up 0.22% from February 2023. This comprised 81,644 Internal Combustion Engine (ICE) vehicles, a decrease of 7.07% from 2023, and HEVs totaling 7,076 units, showing an increase of 951.41% from the previous year. The slight increase in exports was hampered by safety issues in the Red Sea route, causing shipments to be redirected around the Good Hope area.

Extended transport times have resulted in reduced shipping trips. Additionally, the economies of some trading partners have slowed, leading to reduced exports in Asian, Middle Eastern, African, and European markets. The total export value reached 60,661.26 million Baht, an increase of 10.69% from February 2023.

• Engines: 2,351.38 million Baht, down 80% from February 2023
• Other automotive parts: 16,697.52 million Baht, an increase of 79% from February 2023
• Automotive spare parts: 2,300.36 million Baht, down 45% from February 2023

The total export value of automobiles, engines, parts, and spare parts in February 2024 was 82,010.51 million Baht, up 10.36% from February 2023.

For January-February 2024, exports of complete automobiles totaled 175,436 units, an increase of 0.07% compared to the same period last year, differentiated into 163,407 ICE vehicles, down 5.97%, and 12,029 HEVs, up 686.72% from 2023. The export value amounted to 121,228.69 million Baht, an increase of 12.80% from January-February 2023, itemized as follows:

• Engines: 4,461.84 million Baht, down 23% from January-February 2023
• Other automotive parts: 31,735.60 million Baht, an increase of 68% from January-February 2023
• Automotive spare parts: 4,218.27 million Baht, an increase of 76% from January-February 2023

The overall export value of automobiles, engines, parts, and spare parts for January-February 2024 was 161,644.39 million Baht, up 12.24% from January-February 2023.

Motorcycles

In February 2024, a total of 84,636 motorcycles (including CBU + CKD) were exported, representing an increase of 2.15% from January 2024 and a 9.09% rise from February 2023, with an export value of 6,744.07 million Baht, up 2.79% year on year.

• Motorcycle parts had a total export value of 72 million Baht, an increase of 0.62% from February 2023
• Motorcycle spare parts amounted to 74 million Baht, down 7.90% from February 2023

The combined export value of motorcycles and their components in February 2024 reached 7,157.53 million Baht, an increase of 2.43% from February 2023.

From January to February 2024, motorcycle exports totaled 167,489 units (including CBU + CKD), representing an increase of 1.41% from 2023, with an export value of 12,501.29 million Baht, down 3.05% from 2023.

• Motorcycle parts had an export value of 457 million Baht, a decrease of 23% from the previous year
• Motorcycle spare parts totaled 108 million Baht, down 6.74% from the previous year

The total export value of motorcycle parts and spares for January-February 2024 reached 13,282.36 million Baht, a decrease of 3.45% from January-February 2023.

In February 2024, the total export value of complete automobiles, engines, other parts, spare parts, motorcycles, and motorcycle parts amounted to 89,168.04 million Baht, an increase of 9.68% year on year.

For January-February 2024, the total export value of complete automobiles, engines, other parts, spare parts, motorcycles, and motorcycle parts was 174,926.75 million Baht, reflecting a growth of 10.87% from the previous year.