Braking Hard: Car Sales Plummet, Auto Parts Factory Grinds to a Halt with Drastic 3-Day Workweeks

Car sales fell heavily! Auto parts factories only work for 3 days, OT is long gone This past September, it plunged 37%, in addition to low economic growth.

Suraphong Paisitpattanaphong Mr Advisor to the President of the Automotive Industry Group and spokesperson for the automotive industry group The Federation of Thai Industries (FTI) revealed the production numbers. The country’s domestic sales and exports of cars and motorcycles in September 2024

The total number of cars produced in September 2024 was 122,277 cars, a decrease of 25.48% from September 2023. The number of cars produced in January – September 2024 was 1,128,026 cars, a decrease of 18.61% from 2023

Domestic car sales in September 2024 totaled 39,048 vehicles, a decrease of 37.11%, which was considered the lowest in 53 months or 4 years and 5 months, a decrease from stricter approval of loans for car buyers. Pickup trucks, in particular, fell by 39.79% because debt requiring special monitoring (SM) is still at a high level of 208,575 million baht Car bad debt is 259,330 million baht in July 2024.

In addition, domestic economy growth grew by only 2.3% in the second quarter of 2024 and is expected to grow by only 2.7 – 2.8% in 2024, and the Industrial Production Index for August 2024 shrank by 1.91%, showing people’s income. work is still weak And from January – September 2024, cars had sales of 438,659 units, a decrease of 25.25%.

Mr Suraphong said that in terms of red label electric vehicles, BEV type, in September 2024 there were 6,606 new registrations, a decrease of 25.81%.

At the end of October, there will be discussions with the manufacturers of the automotive industry. Regarding the trend of lowering the production target for Thai cars after July, the production target for new cars has been reduced to 1,700,000 cars from the original forecast of 1,900,000 cars at the beginning of the year This is an adjustment to r target only for producing domestic sales to 550,000 cars from the original 750,000 cars.

While export sales are unchanged at 950,000 units, domestic sales continue to decline. and the war began to affect exports. It is expected that the overall number will decrease by tens of thousands of cars. This is as a result of a serious reduction in production. It has affected automotive parts manufacturers. Many supply chains This resulted in having to reduce working hours to just 3-4 days a week. As for occupational therapy, I haven’t had it in a long time.

source: Matichon Online