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 the country’s automobile production to reach 2 million units in 2018 driven by a growing demand.
Surapong Paisitpatanapong, spokesman for the FTI’s automotive industry club, said the federation increased its 2018 output projection, particularly as the club’s domestic car sales forecast rose from 870,000 to 900,000 units after witnessing positive sentiment at the end of 2017.
Investment in the automobile industry will enjoy a strong surge when the Government is focusing on infrastructure projects and the Eastern Economic Corridor scheme.
The country’s car exports are expected to drop by 3.48 percent to 1.1 million vehicles this year because of the introduction of tighter measures in many countries.
Five years ago, Thailand’s automobile production hit a record of 2.46 million units spurred by tax refund programme for anyone buying car for the first time.
During the 2012-2013 period, Thailand was the ninth largest automobile producer in the world.-VNA
VNA
