Automotive exports from Thailand are expected to increase by 4.54% year-on-year in 2022 to 1 million units, according to the Federation of Thai Industries (FTI).
The FTI anticipated the country’s auto production to grow by 6.78% from 2021 to 1.8 million units this year.
Meanwhile, Surapong Paisitpatanapong, FTI vice president and spokesman, stated that the FTI is still concerned about the impact of the ongoing COVID-19 pandemic, which may continue to affect the economic recovery in Thailand and the world.
The Thai automotive industry could miss its production and export target if the global semiconductor shortage cannot be solved, he said.
Concerning motorbike manufacturing, the FTI forecast that the year-on-year increase for 2022 would be 12.31%, mainly due to the general improvement of economic activities in the Southeast Asian country. Its forecast puts total motorbike production this year at 2 million units.