Thailand’s auto manufacturing expects to reach 2.2 million
PHOTO: Autoinfo
Car sales for 2019 are likely to increase thanks to the improved purchasing power of Thais as the agricultural sector returns better prices.
Permanent Secretary of the Ministry of Industry, Phasu Loharachun, say the automotive industry is the main economic activity generating revenue for the country.
Meanwhile, the total number of cars to be manufactured this year is expected to reach 2.2 million, similar to last year. Of that figure, half are for domestic sales and the other half for export.
Phatthanadej Arsasapphakit, President of the Fast Auto Show Thailand 2019, says that this year, although the overall economy may be affected by the ongoing trade war, he believes that it won’t affect the car manufacturing industry in terms of sales of new and used cars because the purchasing power of many people has improved along with the prices of agricultural crops, and competition among financial institutions offering credit.
Meanwhile, sales of electric vehicles are likely to grow in number, due to the advancement of technology.
The private sector is organising the Fast Auto Show Thailand 2019 which is supported by more than 20 new car and used car operators. It is expected that at least two thousand new cars and one thousand used cars will be sold at the event. The event will continue until June 30 at the BITEC Exhibition and Convention Centre.
SOURCE:
Business NewsThailand News
