ASEAN's auto production affected by economic slowdown

BANGKOK, October 24 (TNA) - The ASEAN Automotive Federation (AAF) says that automobile production in the 10-member Association of Southeast Asian Nations (ASEAN) is likely to drop this year due to a regional economic slowdown. AAF President Piengjai Keawsuwan made the assessment on Thursday, pointing out that auto production in Thailand, Malaysia and Indonesia have declined. For Thailand alone, Piengjai projected that automobile production should be 1.9 million units this year, instead of 2.1 million as earlier targeted, while overall auto production in ASEAN should amount to about 4 million units. According to the AAF chief, the Thai automobile industry is facing domestic problems, including the residual effect of political issues and slow results from the country's existing economic stimulus measures. The AAF president expressed her hope that the Thai government's new policies should speed up national economic recovery, while the formation of the ASEAN Economic Community (AEC) by the end of 2015 should boost the regional auto industry. (TNA)