Thailand's vehicle exports plunge 92 per cent in November

Dec 22, 2011, 8:35 GMT

Bangkok - Thailand's vehicle exports last month tumbled 92.1 per cent year-on-year, as devastating floods took their toll on manufacturing in the country's industrialized central plains, industry sources said Thursday.

Exports of trucks and cars from Thailand-based factories in November amounted to 6,258 units, the kingdom's lowest performance in 13 years, Thai Automotive Industry Club spokesman Surapong Paisitpattanapong said.

Domestic vehicle sales in November reached 206,069 units, down 66.9 per cent year-on-year.

In October and November, the central plains and parts of Bangkok were hit by massive floods that inundated at least seven major industrial estates and shut up to 9,000 factories.

The closures halted or delayed production in Thailand's leading export sectors, electronics, electrical appliances and automobiles, with a visible impact on November export figures.

Last month, the kingdom's total exports amounted to 15.5 billion dollars, a 12.4-per-cent decline compared with the same month in 2010, according to the commerce ministry figures.

Thailand has been the leading production hub for vehicle assembly and manufacturing in South-East Asia for decades.

Prior to the October-November floods, the local automotive industry had set itself a target to produce 1.8 million units this year, but that now seems unattainable.

During the first eleven months, vehicle exports had reached 700,581 units, down 15.1 per cent year-on-year. Domestic sales in the January-November period reached 739,911 units, a 4.6-per-cent increase year-on-year.