FTI reports EV growth while pickup sales slump

Khaosod•Economy•1d ago

Reader Briefing

The Federation of Thai Industries reports a rise in overall car sales driven by EVs, while pickup truck sales decline due to strict lending.

•Overall car sales grew 15.39% in the first 7 months of the year, fueled by BEV growth.
•62.58% of Battery Electric Vehicle (BEV) sales in the first 7 months were imports.
•Pickup truck sales for 1-ton models dropped 16.22% in July.
•The Federation of Thai Industries urges the government to adjust tax structures to support domestic production.

Overview

•Total car production in the first 7 months of the year reached 834,595 units, a slight decrease of 0.09%.
•Battery Electric Vehicle (BEV) sales in the first 7 months totaled 125,411 units, an increase of 97.39%.
•Pickup truck sales declined because financial institutions tightened loan approvals due to low domestic GDP growth, which was only 1.9% in Quarter 2.
•The slump in the pickup market affects parts manufacturers and supply chains, leading some to close businesses or relocate investments.
•Surapong Paisitpattanapong requests the government to consider a fair tax structure between imported cars and domestically produced cars.
•Finished car exports in July increased 2.39% to 74,169 units, with Australia and Oceania remaining the largest market at 30.25%.
•Middle East car exports decreased 33.56% due to transport safety issues in the Strait of Hormuz.
•As of the end of July, cumulative BEV registrations nationwide reached 515,357 units.

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Key Quotes

Surapong Paisitpattanapong

"What is very concerning is that pickup sales have continued to drop to just over ten thousand units, from previously selling over thirty thousand per month, a decrease of over 60%."

ที่น่ากังวลใจมากคือ ยอดขายรถกระบะที่ยังคงขายลดลงเหลือเพียงหนึ่งหมื่นกว่าคัน จากที่เคยขายเดือนสามหมื่นกว่าคัน ลดลงถึงกว่า 60%

Key Entities

Organization

Federation of Thai Industries(สภาอุตสาหกรรมแห่งประเทศไทย)ℹ️

An organization providing data on the automotive industry and calling for tax structure reforms.

Person

Surapong Paisitpattanapong(สุรพงษ์ ไพสิฐพัฒนพงษ์)

Advisor to the Chairman and spokesperson of the Automotive Industry Group of the Federation of Thai Industries.

Place

Australia and Oceania(ออสเตรเลียและโอเชียเนีย)ℹ️

The largest export market for finished cars with a 30.25% share.

Asia(เอเชีย)ℹ️

The second largest car export market with a share of 28.92%.

Middle East(ตะวันออกกลาง)ℹ️

An export market that saw a 33.56% decrease in car shipments.

Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️

The location where transport safety problems affected exports to the Middle East.