BANGKOK, 20 July 2011 (NNT) – Thailand’s automotive industry is expected to revive strongly in the latter half of 2011 after receiving serious impacts from the devastation of a powerful earthquake and tsunami in Japan in March.
Thailand Automotive Institute (TAI) Director Wanlop Tiasiri stated that about 93,000 vehicles of the total production volume had been lost in April and May due to the twin catastrophes in Japan; however, the production figure of domestic car manufacturers is likely to resume 1.8 million units in the latter half of this year as previously targetted.
Mr Wanlop elaborated that imports of auto parts for use in domestic production have returned to normalcy, and the business has grown by more than 20%. Moreover, car exports in this year are anticipated to be about 900,000 units in total although export growth has recently contracted by 4%.
Regarding a trend of the country’s automotive business in the latter half, the director expected that the market is likely to expand well as a consequence of the domestic political stability plus strong economic condition of the country.
Mr Wanlop also noted that if the new government focuses on improving transport routes, the policy will be favourable to people’s decisions on car purchase.