The Federation of Thai Industries (FTI) has lowered its automobile production projection for 2014 to 2 million units from 2.4 million units set at the beginning of the year due to a slowdown in domestic demand, according to Thai media.
This is the second time FTI has revised the vehicle production, following a drop in sales during the first half of this year.
Under the revised target, 900,000 vehicles will be produced for the domestic use while the remaining for export, Automotive Industry Club spokesman Surapong Paisitpatanapong said, adding that the club hopes the domestic market will recover from next month with a big motor show event.
Last year, Thailand produced 2.45 million vehicles, including 1.33 million for the domestic market and 1.12 million for export. The output is expected to recover slightly to 2.2-2.3 million units next year, with one million units earmarked for domestic sales.
Automobile sales in Thailand during the first 10 months of the year totalled 719,171 units, declining by 36 percent from the same period last year, while the number of exported vehicles reached 932,365 units, down 1.25 percent year-on-year.
Total car production during the period was 1.56 million units, a year-on-year decrease of 25.86 percent.-VNA
This is the second time FTI has revised the vehicle production, following a drop in sales during the first half of this year.
Under the revised target, 900,000 vehicles will be produced for the domestic use while the remaining for export, Automotive Industry Club spokesman Surapong Paisitpatanapong said, adding that the club hopes the domestic market will recover from next month with a big motor show event.
Last year, Thailand produced 2.45 million vehicles, including 1.33 million for the domestic market and 1.12 million for export. The output is expected to recover slightly to 2.2-2.3 million units next year, with one million units earmarked for domestic sales.
Automobile sales in Thailand during the first 10 months of the year totalled 719,171 units, declining by 36 percent from the same period last year, while the number of exported vehicles reached 932,365 units, down 1.25 percent year-on-year.
Total car production during the period was 1.56 million units, a year-on-year decrease of 25.86 percent.-VNA
