BANGKOK – Car production target of Thailand remains at two million units despite the withdrawal of General Motors (GM), says the Federation of Thai Industries (FTI).
FTI spokesman Surapong Paisitpatanapong said the GM decision would not make significant change in the Thai auto industry although some suppliers would be affected.
The FTI maintained its car production target at 2 million; one million for overseas market and the rest for domestic market, he said.
Surapong admitted that psychological impact was inevitable.
GM announced on Monday that it will stop selling Chevrolet vehicles in Thailand and sell its plant to Rayong to China’s Great Wall Motors (GWM) by the end of this year.
The company will continue to support existing Chevrolet customers for aftersales, warranty and repair work in Thailand, its statement says.
FTI President Suphan Mongkolsuthi said the move was based on competitiveness evaluation, considering low domestic and export volumes.
Many other manufacturers electric vehicles had enjoyed growth, he said.