BANGKOK, Feb. 24 (Xinhua) -- Thailand's auto production continued its contraction in January due to lower domestic sales and exports, data from the Federation of Thai Industries (FTI) showed on Monday.
Thai auto manufacturers produced 107,103 vehicles last month, down 24.63 percent from a year earlier and steeper than a 17.37 percent drop in December 2024 as output of internal combustion engine passenger cars plunged, according to the FTI.
Domestic auto sales slumped 12.26 percent year-on-year to 48,092 units in January as financial institutions maintained strict lending practices on the back of elevated household debt and sluggish economic growth, said FTI Automotive Industry Club spokesperson Surapong Paisitpattanapong.
The Southeast Asian country's finished car exports dived 28.13 percent from a year earlier to 62,321 units in January, owing to concerns over trade policies and fewer working days, Surapong told a news conference.
