Thailand's auto sales likely to reach 1m units in 2014

BANGKOK, July 3 (TNA) - The ASEAN Automotive Federation (AAF) says that Thailand's automobile industry is likely to pick up in a frog leap with domestic sales reaching about one million units this year. AAF President Piengjai Kaewsuwan told journalists on Thursday that Thailand's auto industry should enjoy a leap recovery this year, as the army-led National Council for Peace and Order (NCPO) is relieving the domestic political situation and has paid farmers for their pledged rice. Piengjai pointed out that, as local farmers now have money, domestic sales of motorcycles and pickup trucks used in the Thai farm sector are increasing. The AAF assessed that automobile sales on the domestic market should, thus, reach about one million units in 2014, although it would be lower than an earlier anticipation at 1.2 million. According to the AAF president, Thailand remains as the largest automobile producer in the Association of Southeast Asian Nations (ASEAN) by producing 2.4-2.5 million units of vehicles annually, while the auto market in the region should continue to grow over the next 1-2 years. The AAF president acknowledged that investment in the ASEAN auto sector is rising, with automobile producers maintaining their production base in Thailand, including Japan-based Nissan, which is raising its production capacity to 100,000 units annually, and Toyota, also-Japan-based manufacturer, which invests 50 billion baht in similar expansion. Meanwhile, Udom Wongviwatchai, Secretary-General of the Board of Investment of Thailand (BOI), noted that export-oriented automobile producers remain confident in Thailand and 10 automobile companies have sought promotional privileges for their eco-car production projects in the Thai economy, worth altogether 130 billion baht, so far. (TNA)