Thailand cuts 2024 auto production forecast

The Federation of Thai Industries said on November 25 that due to weak domestic sales and exports, Thailand expects to produce 1.5 million passenger cars and trucks this year, the lowest output since the outbreak of the COVID-19 pandemic in 2021 and the second time this year that it has lowered its production forecast. Among them, the automobile export forecast was lowered from 1.15 million to 1.05 million, and the local sales output was expected to be lowered from 550,000 to 450,000.