Thailand's auto production to rise this year

BANGKOK, January 8 (TNA) - Thailand’s automobile production in 2014 is anticipated to increase to 2.55-2.6 million units, up from about 2.49 million units last year, as the country's ongoing political protests are expected to end soon. Piangjai Kaewsuwan, President of the Thai Automotive Industry Association, made the assessment on Wednesday, saying that the Thai automobile industry is foreseen to keep growing, thanks to positive factors, including a sustainable gross domestic production (GDP) growth in 2014 plus innovative and new models to be introduced later this year. Other favourable factors, Piangjai pointed out, include global oil prices which are expected at about 100 US dollars per barrel, considered not too expensive, and falling interest rates. The Ministry of Finance’s Fiscal Policy Office (FPO) has forecast that Thailand’s GDP growth for 2014 should be at about 4 per cent. According to the Thai Automotive Industry Association president, domestic car sales during the calendar 2014 are estimated at 1-1.2 million units, out of the total production of 2.55–2.6 million units.(TNA)