ASEAN carmakers face bleak 2020, demand hammered

摘要

Southeast Asian carmakers have cut their projections for 2020 as the coronavirus pandemic stifled demand for automotive steel and parts, causing sales and production to tumble across the region, an analysis by S&P Global Platts showed this week. Thailand, ASEAN's leading carmaker, foresees vehicle production to either slip 33.8% to 1.33 million units, or in the worst case scenario by 50.2% to 1 million units if the pandemic prolongs, data from the Federation of Thai Industries showed. The FTI's previous forecasts stood at 2 million units in January and 1.9 million units in March, both lower than the 2.01 million unit made in 2019. The downward revision came as FTI data showed an 83.6% plunge in April vehicle production to 24,711 units, while local sales slumped 65.0% to 30,109 vehicles from April 2019.