Car production stats downPotential buyers flock to a Chevrolet showroom in Pattaya, Chon Buri, on Wednesday to snap up models offered at large discounts - after General Motors said it was withdrawing from Thailand by the end of the year. Club spokesman Surapong Paisitpatanapong said local banks' tight vehicle-loan conditions meant fewer approvals for car buyers, resulting in local distributors being unable to close sales. Car shipments overseas were reported at 65,295 units in January, down sharply by 19.96% y/y. FTI had a conservative outlook for car production in 2020, at 2 million units, because of the many global economic difficulties. Of the targeted production in 2020, 1 million was projected for each segment - local sales and exports, down 0.75% and 5.13% year-on-year, respectively.

Source: Bangkok Post February 20, 2020 04:18 UTC