Ford Thailand revs up for turbocharged pickup comeback as year-end season approaches
Ford Thailand, the driving force behind Ford Motor’s presence in the country, is gearing up for a turbocharged comeback in pickup sales as we cruise into the final quarter of the year – a season traditionally revved up for car enthusiasts.
This resurgence is expected to shift into high gear thanks to the bumper crop of income flowing in from the farming sector, fueled by bountiful crop sales. To top it off, the annual Motor Expo, usually kicking into gear in early December, is poised to accelerate the trend.
Ratthakarn Jutasen, the managing director of Ford Thailand, expressed his optimism.
“We expect our pickups to gain market share of between 10.5-11% in the pickup segment in the last three months of this year, due mainly to our sales promotion campaigns.”
The company saw an 11% year-on-year increase in domestic car sales from January to August, totalling 25,830 units, including the Ford Ranger and Ford Everest models. However, the overall domestic pickup sales have been on a downward trend due to more stringent loan approval criteria implemented by banks, fuelled by concerns over high household debt.
Thai household debt has surpassed 90% of the country’s GDP, while public debt stands at 61% of GDP this year.
The Federation of Thai Industries’ Automotive Industry Club reported an 11.6% year-on-year drop in domestic car sales in August, with pure pickup sales plummeting by 36.3% to 19,561 units.
The domestic production of internal combustion engine-powered cars is also impacted by the increasing imports of electric vehicles (EVs) from China. Electric sport utility vehicles (SUVs) and subcompact crossover SUVs have particularly gained popularity among buyers, reported the Bangkok Post.
Presently, Ford Thailand exports up to 60% of the cars produced at its Rayong factory, with the rest being sold domestically. The company plans to expand its exports to Australia, New Zealand, and the Middle East, where the demand for its vehicles remains high.
Follow more of The Thaiger’s latest stories on our new Facebook page HERE.
