Thai Auto Production to Break One Million Mark in 2005

30 January 2005

Business Day. Thailand’s car production in 2005 will top one million units for the first time. The Federation of Thai Industries (FTI) forecast that total production in 2005 will rise by 18.39% to 1,098,751 units. It estimated that the domestic market would absorb almost 700,000 vehicles—696,797 units or 63.42% of production.

Thailand's total vehicle output in 2004 climbed 23.7% to 928,081 from 2003 levels.

The motor industry is continuing to boom in Thailand, both for the domestic market and for export. Recently, FTI said total car sales in Thailand last year rose by 17.4 percent from 2003. With continuing expansion of the economy, overall car sales are expected to grow by 10 percent this year.

It’s not just China and India that are booming. Steady and healthy economic growth in a number of smaller economies will also intensify the scramble for oil.