The Thailand Automotive Institute is aiming to achieve a production target of 3 million vehicles annually by 2017, as set by the Industry Ministry. The institute’s new Director Vichai Jirathiyuth made the declaration, adding he would also retain the institute’s main policy of pushing Thailand as the number one automobile producer among the ASEAN member countries.
The Thailand Automotive Institute has projected the number of this year’s automobile production to reach 2.45 million units, a 10% decrease year-on-year, thanks to the ailing economy.
Mr. Vichai was confident that the nation would be able to maintain the number one position despite the presence of Indonesia, a competent rival in the region whose auto industry has an expected growth of 15% this year. Thailand’s automobile sector this year is expected to grow at 12%. Mr. Vichai said, despite a modest projection the kingdom has a higher potential for auto production, while holding the advantage of having the Eco-Car Phase 2 Policy, the government’s campaign promoting the production of automobiles with low fuel consumption rates.
Director Vichai said currently Thailand ranks 9th in the world as an automobile producer and the 13th auto exporter. He said the current hurdles the institute is facing at the moment are the preparation for local SME operators related to auto production for the arrival of the ASEAN Economic Community in 2015.