FTI:Thai auto production misses target

BANGKOK, July 20 (TNA) - The Federation of Thai Industries (FTI) says it is likely that the country's automobile production will miss the target of two million units this year due to a drop in exports. FTI Vice Chairman Surapong Paisitpatanapong, in his capacity as Spokesman of the FTI Automotive Industry Club, told journalists of the trend on July 19, noting that the FTI Automotive Industry Club will hold a meeting to discuss the issue and review the country's target on auto production in 2017 next week. The spokesman said Thailand's real auto production is likely to stand at about 1.94 million units this year, as the domestic production of all types of vehicles in the first half of this year stood at 950,966 units, a 4.27 per cent year-on-year drop. The spokesman cited a drop in Thai auto exports to the Middle East and South Africa as a main reason, pointing out that Thai auto exports to the Middle East fell from 27 per cent of overall Thai auto exports normally to only 9 per cent during the first half of this year due to impacts from an economic slowdown in the region, while South Africa has increasingly relied on domestic auto production. According to the spokesman, the circumstances have led to a drop in overall Thai auto exports during the January-June period from 594,823 units to 536,406 units, a 9.82 per cent year-on-year decline. The spokesman reported, meanwhile, that Thailand's total auto sale reached 412,393 units during the first half of this year, a 4.17 per cent year-on-year increase, thanks to the introduction of several new models of automobiles and the rising government's investment projects. (TNA)