Auto output could hit 14-year low

Quick Summary:

Thailand’s automotive production could plunge to a 14-year low this year, excluding the pandemic years of 2020-22, dipping to 1.65 million units, though monthly production is expected to start improving slowly in the fourth quarter, says Krungsri Securities (KS).

Another price war could break out in the fourth quarter during Motor Expo 2024, which is scheduled from Nov 29 to Dec 10, said Mr Naruedom.

The decline is attributed to elevated levels of household debt and non-performing loans (NPLs), according to the brokerage.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Year Sales Year-on-year Naruedom Domestic Production Units Vehicle Quarter Million Household

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 20:06:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21443616

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