Thai auto exports increase in 2015

BANGKOK, January 18 (TNA) - The Federation of Thai Industries (FTI) reports that Thai automobile exports exceeded its target of 1.20 million units last year and increased more than 6 per cent from 2014. FTI Vice Chairman Surapong Paisitpattanapong, who is also FTI Spokesman for the Automotive Industry Club, told journalists on Monday that Thailand's exports of automobiles stood at 1,204,895 units last year, slightly higher than FTI's earlier target, and a 6.81 per cent year-on-year increase. Surapong said the value of Thai automobile exports amounted to 592.55 billion baht and if exports of auto engines and parts were included, the value of Thai auto exports rose to 841.43 billion baht last year, a 7.39 per cent year-on-year increase and if exports of motorcycles and parts were also included, the value of Thai auto exports further increased to 892.62 billion baht, a 6.88 per cent year-on-year increase. Surapong noted that domestic auto sales reached 799,592 units in 2015, meeting FTI's earlier target at 750,000-800,000 units, although the domestic auto sale dropped by 9.3 year-on-year. According to the FTI deputy chief, Thailand produced 1.91 million units of vehicles in 2015, lower than FTI's target of 1.95 million, while FTI has set a target for Thailand's automobile production at 2 million units this year. Meanwhile, FTI Chairman Suphan Mongkolsuthree told reporters that the Thai Industries Sentiment Index (TISI) rose for the fourth consecutive month in December 2015 to 87.5, up from 85.8 in November, thanks to an annual auto show, a tax incentive to stimulate New Year spending and the declining global oil prices, which have cut transport costs. (TNA)