BANGKOK, Oct 23 — Southeast Asia’s automotive production is likely to drop next year due to economic slowdowns, according to ASEAN Automotive Federation (AAF) President Piengjai Keawsuwan.
Ms Piengjai pointed out that production in Thailand plunged, while Malaysian and Indonesian output is also declining–but at lesser rates.
This year Thailand’s automotive production should be 1.9 million vehicles instead of the earlier targeted 2.1 million while overall ASEAN production should amount to about 4 million vehicles, Ms Piengjai said.
The Thai automotive industry faces local problems including the residual effect of political issues and the country’s existing economic stimulus policies could not ensure quick economic recovery.
The federation executive expressed hope that the new policies of the government will speed up national economic recovery. She also expects the formation of the ASEAN Economic Community in 2016 will enable the regional automotive industry to improve.
