Thailand forecasts strong growth in automobile production

The Federation of Thai Industries (FTI) forecasts the country’s automobile production to reach 2 million units in 2018 driven by a growing demand.

Monday, February 05, 2018 15:14

Thailand forecasts strong growth in automobile production ảnh 1

The Federation of Thai Industries (FTI) forecasts the country’s automobile production to reach 2 million units in 2018 driven by a growing demand. (Photo: TopGear)

Bangkok (VNA) – The Federation of Thai Industries (FTI) forecasts thecountry’s automobile production to reach 2 million units in 2018 driven by agrowing demand.

Surapong Paisitpatanapong, spokesman for the FTI’s automotive industry club,said the federation increased its 2018 output projection, particularly as theclub’s domestic car sales forecast rose from 870,000 to 900,000 units afterwitnessing positive sentiment at the end of 2017.

Investment in the automobile industry will enjoy a strong surge when theGovernment is focusing on infrastructure projects and the Eastern EconomicCorridor scheme.

The country’s car exports are expected to drop by 3.48 percent to 1.1 millionvehicles this year because of the introduction of tighter measures in manycountries.

Five years ago, Thailand’s automobile production hit a record of 2.46 millionunits spurred by tax refund programme for anyone buying car for the first time.

During the 2012-2013 period, Thailand was the ninth largest automobile producerin the world.-VNA

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#Federation of Thai Industries (FTI) #automobile production #2 million units #growing demand #positive sentiment #Eastern Economic Corridor scheme #introduction of tighter measures #Vietnam News Agency #Vietnamplus Thailand

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