Industry Ministry adjusts upward 2013 auto production target

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BANGKOK, 1 March 2013 The Industry Ministry has adjusted upward its 2013 auto production target, mainly due to an expected rise in domestic and overseas demand. 

The Office of Industrial Economics (OIE) Director-General Nattapon Nattasomboon said on Thursday that the Industry Ministry has just raised its 2013 auto production target from 2.5 million to 2.8 million.

Under the new target, around 1.6 million vehicles are expected to be sold domestically, up 12.24% from last year, while 1.2 million of them, a 17.29% year-on-year increase, are likely to be exported to other markets.

Mr. Nattapon stated that the upward revision was due to higher local and overseas demand for vehicles, which drove automakers to increase their production capacities to the maximum while introducing new and attractive promotional campaigns to lure consumers.

He added that the higher production target was partly because of automakers’ inability to deliver cars to buyers, who made purchases under the government’s First Car project, before the end of 2012.

The OIE Director-General revealed that around 534,000 cars, or 42% of the 1.257 million cars ordered last year, are yet to be delivered to buyers this year