The Federation of Thai Industries (FTI) has reported that in April 2024, car production reached 104,667 units, a decrease of 11.02%. Domestic sales totaled 46,738 units, down 21.49%, while exports were at 70,160 units, down 12.23%. Electric vehicle production stood at 644 units, an increase of 2,476%, but sales of battery electric vehicles (BEVs) fell by 7.21% to 3,900 units.

Mr. Surapong Paisitpatanapong, Advisor to the President of the Automotive Industry Group and Spokesperson for the Automotive Industry of the Federation of Thai Industries (FTI) stated that in April 2024, domestic sales were 46,738 units, a decrease of 16.69% from March 2024 and down 21.49% compared to the same month last year. This decline is attributed to stricter loan approvals for car purchases by financial institutions, along with the country's low economic growth due to delays in the 2024 budget, which has significantly reduced government investment spending and weakened consumer purchasing power. Consequently, car sales have dropped compared to last year, falling to third place behind Malaysia. From January to April 2024, total car sales reached 210,494 units, a decrease of 23.90% from the same period in 2023.

Regardingexports of finished cars, in April 2024, 70,160 units were exported, a decrease of 26.22% from the previous month due to fewer working days in April affecting production for export. The export volume accounted for 97.54% of the production intended for export, with increases in the North American and European markets. The value of car exports was 48,146.79 million baht, down 4.02% from April 2023. The total value of car exports in April 2024, including engines, car parts, and accessories, was 69,274.91 million baht, an increase of 5.79% from April 2023.

From January to April 2024, 340,685 finished cars were exported, a decrease of 3.66% compared to the same period last year, while the value of car exports reached 237,301.55 million baht, an increase of 8.71% from January to April 2023, driven by growth in other car parts and accessories. The total value of car exports from January to April 2024, including engines, car parts, and accessories, was 317,883.28 million baht, up 8.29% from the same period in 2023.

In the automotive industry, there is hope that once the 2024 budget is implemented, the government will expedite disbursement and investment, as well as stimulate economic growth. The government has already encouraged property purchases in April, and now they are urged to stimulate car purchases, particularly for internal combustion engine vehicles and pickup trucks that use over 90% locally produced parts. This sector has a significant number of related industries, similar to real estate, which could lead to increased production, more jobs, and higher employment rates. The government would also benefit from increased excise taxes, value-added taxes, and income taxes from both corporations and individuals, leading to higher economic growth rates.