Auto manufacturing in Thailand will reach 2.5 million units this year and possibly increase to three million units in 2016, according to the Commerce Ministry.
Nantawan Sakuntanak, director general of the International Trade Promotion Department, said the auto industry has generate US$30 billion, or Bt900 billion, in the past year, breaking down into $18 billion from automobiles and $12 billion from auto parts.
This year’s production will reach 2.5 million units, compared to last year’s 2.457 million units. Thailand ranks ninth among top auto manufacturers worldwide and it should step up to the fifth position in the next two years.
This year’s exports of auto parts should increase 10 percent this year thanks to the depreciating baht. Forty percent of locally-produced auto parts are exported and the remaining 60 percent are for local distribution.
Exports in January reached $971.95 million, representing a 3.05 percent increase year-on-year and 5.40 percent of the country’s total export value.
Ms Nantawan said the department will collaborate with Thai auto manufacturing associations and organizations in holding the “Thailand Auto Parts and Accessories 2014” exhibition at the BITEC Convention Centre, Bang-na April 28-May 1.
Total sales in the event, to be participated by about 400 operators, should reach Bt1 billion, she said.
Achana Limpaitoon, president of the Thai Auto-parts Manufacturers Association (TAPMA), said Thailand imported $2 billion worth of auto parts in 2012-2013 but the weakened baht has resulted in added exports.
Thailand produces Bt600 billion worth of auto parts annually, she said.
