March 24, 2009
BANGKOK (AFP) - Thai auto exports plunged more than 31 percent in February from a year ago as the global economic crisis slowed demand from foreign markets, an industry group said Monday.
Thailand exported 44,609 cars and trucks worth 20.50 billion baht (577 million dollars) last month, down 31.15 percent in value compared to February 2008, the Federation of Thai Industries said.
"Our auto exports fell a lot last month in our major markets including Australia and Asia -- actually from nearly every region except the Middle East," said Surapong Paisitpatanapong, spokesman of the federation's auto unit.
Total auto production for both domestic and foreign markets dropped to 61,067 units in February, down 50.57 percent from the same period last year.
"We are truly worried as our export sales in February slipped more than expected. Our total production last month also fell by more than half," Surapong said.
He said the federation hoped that the situation would improve in March and added that the industry had not yet planned to adjust its projections for this year.
The federation has predicted that overseas shipments for 2009 will be down 25 percent. Industry groups have forecast that domestic sales will likely slip 15 percent this year.
Thailand has positioned itself as a key regional production base for foreign automakers, but the industry has been hard hit by the global economic crisis.
