Thailand’s Automotive Industry set to grow by 15.4% in 2015
The most recent Ipsos forecast in September 2014 stated that 1.90 million units would be produced up to end-December-2014, which is 22.44% fewer than the quantity produced in the same period in 2013. The subsequent estimate from the main industry players is for 1.95 million units to be produced. Speaking on Thursday 27th November 2014 at an industry event in Bangkok, Thailand, Chukiat Wongtaveerat, Consulting Manager at Ipsos told representatives from the automotive industry in Thailand that Ipsos is forecasting that 2.25 million units would be produced up to the end of December 2015. This is 15.4% more than the units that the industry players are expecting to produce in 2014, based on current best estimates, said Mr Wongtaveerat.
This 2015 forecast from Ipsos Business Consulting assumes that the Eco car segment continues to make a positive contribution towards the growth of the sector, with players such as Mazda implementing their plans to exploit this emerging market. Ipsos noted that five OEMs had already secured Thai Board of Investment privileges for “Eco Car Phase 2”, with Toyota, Honda, Suzuki, SAIC and Volkswagen all having applications for BOI privileges under active consideration.
Sanpichit Songpaisan, Country Manager for Thailand, highlighted a need for continued caution on the increasing levels of household debt in Thailand, observing that the automotive industry should be wary of its potential impact.
“The automotive industry will welcome the expected return to growth in 2015, which will help to consolidate Thailand’s position as the ASEAN hub” Songpaisan says. “However, when looking at personal debt levels in Thailand, it should be noted that there is still no sufficient clarity on these significant risks for the automotive industry as well as those involved in auto financing. We could find that the financial institutions start to adopt much more rigorous criteria for screening and approval of auto loans, with a knock-on effect on domestic demand”.
With the demise of the second-hand car industry in Thailand in recent years, it adds to the problems encountered when having to deal with automobiles recovered from those who default on their auto loans.
ข่าวIpsos Business Consulting+motorวันนี้
CONSUMERS IN ASEAN CONSIDER THE EXCESSIVE USE OF PLASTICS TO BE A SERIOUS PROBLEM
Consumers in Southeast Asia are increasingly aware of the environmental issues facing their countries' today, with waste being the top environmental concern, according to Ipsos Business Consulting, a global growth strategy consulting firm, that spoke in detail about the challenge of plastic pollution in ASEAN at an event organised by the British Chamber of Commerce in Thailand on Wednesday 5th June 2019. Ipsos Business Consulting told the assembled audience that 49% of respondents in an online
Can Unmanned Aerial Vehicles Accelerate Farm Mechanisation in Asia Pacific ?
—
The current adoption of Unmanned Aerial Vehicles in Agriculture (Ag Drones)...
โดรนมีบทบาทช่วยเร่งกระบวนการใช้เครื่องมือที่มีเทคโนโลยีขั้นสูงในภาคการเกษตรของภูมิภาคเอเชียแปซิฟิกได้หรือไม่?
—
รายงานอุตสาหกรรมฉบับล่าสุดซึ่งจัดทำโดยบริษ...
Beyond the automotive headlines: it’s not all about Bangkok
—
The North East and North regions of Thailand will central to the strategy of industry player...
Indonesia Driving Closer to Car Production Hub Dream
—
Strong evidence suggests that Indonesia will eventually replace Thailand to become the main automot...
Indonesia Takes a Step Closer to Car Production Hub Dream
—
Strong evidence suggests that Indonesia will eventually replace Thailand to become the main au...