KRC: Thailand's auto industry will highly rebound in 2012

BANGKOK, December 21 (TNA) - The Kasikorn Research Centre (KRC) projected on Wednesday that Thailand's automobile industry could experience a steep growth in 2012, in the wake of this year's flooding crisis. According to the leading private think tank, Thailand's automobile exports could expand by 24-29 per cent year-on-year in 2012, reaching 970,000-1,010,000 units, which could subsequently boost the country's auto production growth rate by 25-30 per cent year-on-year, or totalling 1.89-1.97 million units, accordingly. The Bangkok-based research firm, an affiliate of the country's third growing Kasikorn Bank, also forecast that sales of locally-produced cars on the domestic market would likely grow by 14-19 per cent year-on-year in 2012, or 925,000-965,000 units, provided that there was not any serious disruption. The KRC indicated, however, that the ability to fast cope with changes by flood-affected auto and auto part manufacturers and the Thai government's post-flooded rehabilitation and economic stimulus measures should be key factors for the anticipated rebound of the country's automobile industry. (TNA)