Auto sales rut in Thailand to drag on for years

Quick Summary:

Sluggish car sales are expected to plague the Thai automotive industry for at least another 1-2 years, with total domestic sales projected to plunge to 560,000 units in 2024, according to Hyundai Mobility Thailand, a subsidiary of South Korean automaker Hyundai Motor Group.

The Board of Investment said earlier Hyundai plans to produce battery EVs and batteries in Thailand by 2026.

Hyundai is maintaining its plan to expand its electric vehicle (EV) business in Thailand with a 1-billion-baht investment.

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Article Details

Category: EconomyBusiness

Markets: ThailandSouth Korea

Topics: Loan Thailand Market Total Hyundai 2024 Thai Year Sales Industry Wallop

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 18:27:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © Bangkok Post

News ID: 24274540

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Official Website: bangkokpost.com

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