Car Production in Thailand Slumps Due to Weak Sales and Exports
Car production in Thailand fell a surprisingly large 24.63% in January from a year earlier to 107,103 units due to weak domestic sales and exports. Domestic car sales dropped by 12.26% in January from a year earlier to 48,092 units, while exports tumbled 28.13% in January from a year earlier to 62,321 units. The decline marks the 18th straight month of production losses.
- This drop in automotive production highlights the vulnerability of global supply chains to disruptions caused by factors such as rising consumer debt and intense competition from emerging markets like China.
- What measures will the Thai government take to mitigate the impact on the country's economy and support the automotive sector, which is a significant contributor to its GDP?