Search Results for: auto industry

  • Business News

    US auto industry strike continues, workers demand 40% wage increase

    Remaining defiant in their stand for better pay, employees from the United States’ renowned Big Three auto manufacturers – General Motors, Ford, and Stellantis (the parent company of Dodge and Chrysler in the US) – continued to strike for a second day. The lack of agreement between the United Automobile Workers (UAW) and the companies could potentially destabilise the economy…

  • Automotive

    Thai auto industry shows resilience in 2023 Bangkok International Motor Show

    The 2023 Bangkok International Motor Show came to an end on Sunday, and the numbers show that the Thai automotive industry is making a strong comeback. Car and motorcycle bookings increased by more than 35% year-on-year to 45,983 units, a figure attributed to an improving economy and the growing popularity of electric vehicles (EVs). Jaturon Komolmit, Vice-Chairman of Grand Prix…

  • Business News

    Thai industry leader defends Bank of Thailand’s financial autonomy

    Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…

  • Automotive

    Data practices are holding back the automotive industry

    Today, our cars are not just vehicles, they’re like smartphones on wheels, loaded with exciting insights into our lives, from habits to preferences and every adventure in between. As we zoom ahead in this digital age, there’s a buzzing conversation about how automakers are handling these data practices. Imagine, each time you hit the road, you’re lighting up a vast…

  • Business News

    Thai automotive industry urged to embrace sustainability

    Emphasising the necessity for sustainability and clean energy, the Thai automotive industry is being encouraged to swiftly adapt to new global regulations. Furthermore, the industry is advised to utilise free trade agreements (FTAs) to enhance its competitive stance. Following a meeting with the Thai Automotive Industry Association (TAIA) and the Automotive Industry Club of the Federation of Thai Industries (FTI)…

  • Business News

    EV and SUV sales set for boost in Thailand amid automotive industry changes

    This year, the automotive industry anticipates uneven sales growth, shaped by motorists’ evolving preferences and lenders’ decision-making. Electric vehicle (EV) makers and banks will be crucial in shaping domestic sales, especially within the pure pickup category. As per the Federation of Thai Industries (FTI), EVs, pickup passenger vehicles (PPVs), and sport utility vehicles (SUVs) are predicted to be this year’s…

  • Business News

    Thai Automotive Institute boosts EV industry with new test track

    The Thailand Automotive Institute (TAI) is set to boost Thailand’s electric vehicle (EV) industry, constructing a test track to provide manufacturers with a range of testing services, subsequently becoming a new revenue stream for the country. This track, under construction in Chachoengsao, is designed to facilitate a broad spectrum of tests including braking and parking brake performance, speed, distance and…

  • Thailand News

    Japan revs up Thai automotive industry: Major automakers inject 150 billion baht boost

    In a move set to ignite Thailand‘s automotive industry, four major Japanese car giants are gearing up to pump a staggering 150 billion baht into manufacturing electric vehicles (EVs) in the country. This collaboration underscores Thailand’s ascent as a powerhouse in the automotive world and spotlights the government’s triumphant push towards an electrifying future. Four heavyweight Japanese automotive juggernauts are…

  • Technology News

    The evolution of autonomous vehicles

    At the crux of the current technological revolution resides artificial intelligence, which is acting as a catalyst for a remarkable transformation. AI is instrumental to the development and functioning of these self sustaining vehicles, not merely being a constituent, but essentially the fundamental framework enabling the enhancement of safety and efficiency of autonomous vehicles. As we investigate the varying degrees…

  • Business News

    Car industry faces crunch as EV demand slumps and costs rise

    The automobile industry, stretching from Europe to Asia, is bracing for a tough year ahead as rising costs and a slump in electric vehicle (EV) demand begin to take their toll on profits. Mercedes-Benz Group AG, yesterday, revealed plans to extend the lifespan of their combustion-engine cars due to underwhelming EV sales. Toyota Motor Corp, anticipating a 20% drop in…

  • Automotive

    Thailand drives automotive innovation with blockchain technology

    Let’s dive into the exciting world of Thailand’s car industry, where something super cool is happening – blockchain technology is making waves and turning things up a notch. Imagine having a sneak peek into the future of cars and seeing how this tech is shaking things up, from making everything more open and easy to track to boosting how well…

  • Business News

    Automotive giants shift gears towards BEVs and HICEVs

    The fight against climate change has urged automotive industry leaders to focus on battery electric vehicles (BEVs) and hydrogen internal combustion engine vehicles (HICEVs). This is a critical step in reducing the greenhouse gas emissions caused by traditional internal combustion engines and contributing to a more sustainable transport future. Original Equipment Manufacturers (OEMs) worldwide have made the bold commitment to…

  • Thailand News

    Potential Australian trade barrier could impact Thai auto exports

    The Thai Automotive Industry Association (TAIA) has issued a warning that a prospective trade barrier, set to be imposed on new cars shipped to Australia next year, may impact auto exports. The trade barrier, known as the new vehicle efficiency standard, is a regulation being developed to limit carbon dioxide emissions per kilometre from new cars sold in Australia, according…

  • Business News

    Thailand’s car industry hits the brakes: Production plunges 20%

    With a significant decrease in production, Thailand’s car output experienced a 19.28% year-on-year slump in February, with the total units produced amounting to only 133,690, as reported by the Federation of Thai Industries (FTI). The numbers, attributed predominantly to the reduced production of pickup trucks and increased imports of electric vehicles (EVs), starkly contrast the 12.46% dip recorded in January.…

  • Business News

    Household debt surge impacts property and auto sectors

    The accumulated domestic debt and non-performing loans (NPLs), coupled with stagnant buying power, have continued to suppress domestic consumption since the previous year, with the property and automotive sectors suffering the most significant blow. This is reflected in the high rate of home loan refusals and car repossessions. The numerous interest rate increases last year exacerbated the financing issues, with…

  • Business News

    Krungsri Auto predicts minimal growth in new auto loans despite EV boom

    Krungsri Auto, Thailand’s leading auto loan provider, predicts a mere 0.4% increase in its new auto loans for 2024, despite the anticipated boom in electric vehicle (EV) sales at the upcoming 45th Bangkok International Motor Show. This forecast was shared by Congsin Congcar, the head of Krungsri Auto Group, after the company issued over 223 billion baht in new auto…

  • Automotive

    How custom car culture is changing the auto world

    In the heart of automotive innovation, custom car culture emerges as a beacon of creativity and individuality when compared to the general car you bought. It’s a world where enthusiasts and designers break free from the constraints of conventional car design, crafting unique vehicles that stand out on the road. This culture isn’t just about aesthetics; it’s a testament to…

  • Automotive

    Tesla in Thailand: The future of green mobility and autonomous vehicles

    Following its debut in Thailand at the end of 2022, US-based automobile giant Tesla continues to expand its influence in the Thai market and it is also exciting to purchase a new car in Thailand. With a test centre open in Ramkhamhaeng, customers can try driving various Tesla models as they wish, buy Tesla products, and pick up their ordered…

  • Automotive

    Tips for finding an affordable auto repair shop in thailand

    Regular maintenance checks, routine tyre changes, even more, complex transmission work – whatever it may be, it’s clear that going to a good auto repair shop can save you loads of time and money. But finding an affordable auto repair shop that you can trust isn’t always easy. But here’s the good news – it’s not impossible! Here are six…

  • Business News

    Thailand seeks German investment in electric vehicle industry

    Deputy Prime Minister Parnpree Bahiddha-Nukara announced on a recent official trip to Germany, the Thai government’s intention to attract German automobile manufacturers to invest in Thailand’s burgeoning electric vehicle (EV) industry. This initiative is part of the broader plans for Prime Minister Srettha Thavisin’s official visit to Germany next month. The deputy prime minister, who also serves as the foreign…

  • Business News

    New EV incentives boost investment in Thai automotive sector

    The Federation of Thai Industries (FTI) expressed confidence in the transformative potential of the new electric vehicle (EV) incentive packages, anticipating a significant boost to investment in the automotive sector and related businesses. As Thailand strives for sustainable economic growth and enhanced competitiveness, surges in investment are vital, particularly in the targeted S-curve industries encompassing next-generation vehicles. Surapong Paisitpatanapong, the…

  • Transport News

    Automakers’ ties to forced labour in China under scrutiny, says HRW report

    Five prominent automakers, including Toyota, General Motors, Volkswagen, Tesla, and China’s BYD, have questionable ties to forced labour in China’s Xinjiang region, as identified by a report by Human Rights Watch (HRW). Xinjiang, an important aluminium producer contributing to approximately 9% of the global supply, has been linked to state-sponsored labour transfer programs accused of coercing Muslim minorities into forced…

  • Thailand News

    Thai PM seeks Japanese investment in country’s EV industry

    Thailand Prime Minister Srettha Thavisin is set to persuade top Japanese car manufacturers to invest in Thailand’s burgeoning electronic vehicle (EV) industry, boarded a plane to Japan yesterday. The visit, marking his first to Japan since his tenure as prime minister began, coincides with the 50 Years of the Asean-Japan Friendship and Cooperation Commemorative Summit. Accompanying the 61 year old…

  • Thailand News

    Culture minister says Thailand’s film industry is set for transformation with new self-regulation bill

    Thailand‘s film industry is poised for a significant transformation following the finalisation of the draft for a new Movies and Games Bill by the Ministry of Culture. Culture Minister Sermsak Pongpanit revealed that the proposed legislation intends to decentralise censorship power from the government, instead placing it in the hands of producers. This bill is set to replace the current…

  • Business News

    Thailand’s household debt soars as auto loans and cooperative debts spike

    The secretary-general of the National Economic and Social Development Council (NESDC) issued a warning over the steady increase in Thailand‘s household debt. The critical areas requiring stringent monitoring were identified as auto loans and debt originating from savings cooperatives. During a press conference outlining the nation’s social outlook for the second quarter of 2023, Danucha Pichayanan revealed that household debt…

  • Business News

    EV sales in Thailand to hit 50,000 despite auto loan regulations

    The Thailand Automotive Institute (TAI) anticipates a surge in electric vehicle (EV) sales to 50,000 units this year. This comes despite challenges such as diminishing purchasing power, rampant household debt, and the implementation of stricter auto loan regulations by banks. Last year, local EV sales in Thailand saw approximately 20,000 units sold. The popularity of EVs in the country can…

  • Business News

    Thailand’s foreign direct investment skyrockets with focus on EV industry

    Investment attraction to Thailand has seen a remarkable surge in the first half of this year. The nation registered a 70% year-on-year increase to an impressive 364 billion baht, according to the Board of Investment (BoI). This boost, particularly contributed by an astonishing 141% soar in foreign direct investment, serves as a testament to Thailand’s status as a preferred manufacturing…

  • Business News

    Customs facilitation reform urged by Thailand’s finance minister to boost automotive sector

    Finance Minister Arkhom Termpittayapaisith recently issued an appeal to the Customs Department of Thailand to streamline the customs facilitation formalities for both exports and imports. His appeal is aimed especially at boosting the activity of the automotive field. Following a discussion held with a group of investors from Japan in the core of June, Arkhom instructed the department to better…

  • Business News

    Krungsri Auto targets 1/3 EV lending market share amid 203% growth forecast

    Krungsri Auto, a leading automotive finance company under the Bank of Ayudhya, is targeting a one-third market share in electric vehicle (EV) lending this year. The firm anticipates a 6% decline in new motorcycle sales, amounting to 1.7 million units, mainly due to a high base effect. Out of these, 30,000 units are expected to be electric motorcycles, an increase…

  • Business News

    Japanese automakers struggle in China amid rapid shift to electric vehicles

    The sales crisis for Japan’s automakers in China continues, as industry data reveals a rapid shift towards electric vehicles (EVs), resulting in a steep decline in gasoline-powered vehicle purchases. In the first quarter, total sales of Japanese auto brands in China dropped by 32% year-on-year, more than twice the rate of overall market contraction. While automakers such as Volkswagen AG…