BANGKOK, 27 Mar 2015, President of the Federation of Thai Industries (FTI), Supan Mongkonthee, hopes that more than 40,00 cars will be sold during this tear’s Bangkok International Motor Show 2015 now underway.
According to him, 123,669 cars have been sold during the first 2 months of 2015, an 11.8% on-year decrease. He attributed the drop to the nation’s economic slowdown, low agricultural product prices, and the government’s as well as the private sector’s investments .
He also pointed out that the government budget disbursement has seen little or no progress, while the financial institutions continue to impose strict loan regulations.
Thailand exported 200,613 cars in the past 2 months, an increase of 12.58% on-year. The export was worth 88.7 billion baht, a rise of 6.25% from that of the same period last year, Mr. Supan said
Despite the expiration of the EU’s GSP privilege, auto exports to EU continues to grow, thanks to the higher demand for eco-cars in the EU block and the manufacturers’ outstanding marketing strategies.
Auto exports to EU in January jumped 135% in January and 517% in February year-on-year. Exports to North America also grew by 203% and 42% in January and February, respectively.
