The Federation of Thai Industries (FTI) is forecasting that bike production this year will surpass the initial target of 2.1 million units. The revival of the tourism sector and the easing of the worldwide semiconductor scarcity are cited as the first elements for this optimistic outlook.
Surapong Paisitpatanapong, the vice-chairman and spokesperson for the FTI’s Automotive Industry Club, attributes this increased demand to the reopening of borders and the resurgence of tourism, as many foreign vacationers choose motorcycle journey.
At the start of the year, the FTI had estimated the local motorbike production for 2023 to be at 2.1 million items. The expectation was that 1.seventy five million items would cater to the home market, with the remaining 350,000 models directed in the direction of exports.
However, the FTI’s report reveals that Thailand’s bike manufacturing capability in July fell by 7.84% year-on-year to 194,773 models. Completely built-up (CBU) items saw an increase of 11.1% 12 months on yr, reaching one hundred seventy,123 models. In contrast, completely knocked-down (CKD) units noticed a significant decline, plummeting by fifty seven.6% yr on year to 24,650 units.
From January to July, the manufacturing capability grew by 3.08% year-on-year to 1,501,470 units. During this era, CBU output rose by 19.3% year-on-year to 1,297,727 units, whereas CKD output experienced a notable decrease, dropping by forty four.8% year-on-year to 203,743 items.
In July, domestic motorcycle gross sales surged by 12.7% year-on-year to one hundred fifty,779 units. The sales of inside combustion engine (ICE) motorcycles mirrored this increase, rising by 12.7% year-on-year to a hundred and fifty,770 models. However, gross sales of hybrid bikes skilled a drastic drop, falling by 81.3% yr on 12 months to only 9 units.
For the first seven months, domestic motorcycle gross sales noticed an general improve of 10% year-on-year to 1,a hundred and forty four,760 units. During this period, gross sales of ICE motorcycles rose by 10% to 1,143,722 models. Hybrid motorbike sales decreased by 9.11% year-on-year to 818 models, whereas battery-powered bikes witnessed a significant improve, doubling to 220 models.
In phrases of exports, the FTI reported a slight decline of 1.72% year on 12 months in July, totalling 64,238 items. Despite Odd , the worth of those exports saw a substantial gain of 29.8%, amounting to 5.sixty nine billion baht.
For the first seven months, motorcycle exports decreased by 15.3% year on 12 months to 491,872 units. Despite this, the export value for this era saw a rise of eight.29% year on yr, amounting to 41.6 billion baht.
Exports of motorcycles and motorcycle parts in July witnessed a big surge, growing by 26.1% year-on-year to six.18 billion baht. For the primary seven months, these exports rose by eight.43% to 44.6 billion baht, stories Bangkok Post.
Follow The Thaiger’s newest tales on our new Facebook page: CLICK HERE..
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.