Models pose in front of a pickup truck at Bangkok International Motor Show 2024. (Photo: Pattarapong Chatpattarasill)
Thailand’s US$53 billion automobile industry is facing a grim future as highly indebted domestic consumers struggle to finance purchases and overseas buyers of its mainstay traditional vehicles increasingly switch to electric alternatives.
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Models pose in front of a pickup truck at Bangkok International Motor Show 2024. (Photo: Pattarapong Chatpattarasill)
Thailand’s US$53 billion automobile industry is facing a grim future as highly indebted domestic consumers struggle to finance purchases and overseas buyers of its mainstay traditional vehicles increasingly switch to electric alternatives.
The crisis in Southeast Asia’s largest car production hub has forced cuts to output and jobs, and sparked measures from the government to try and reverse its fortunes.
It is already rippling through companies such as Techno-Metal which has been manufacturing…