ASEAN's automotive production falls due to economic slowdown
By Digital Content



BANGKOK, Oct 24 -- Southeast Asia's automotive production is likely to drop next year due to economic slowdowns, according to ASEAN Automotive Federation (AAF) President Piengjai Keawsuwan.

Ms Piengjai pointed out that production in Thailand plunged, while Malaysian and Indonesian output is also declining--but at lesser rates.

This year Thailand's automotive production should be 1.9 million vehicles instead of the earlier targeted 2.1 million while overall ASEAN production should amount to about 4 million vehicles, Ms Piengjai said.

The Thai automotive industry faces local problems including the residual effect of political issues and the country's existing economic stimulus policies could not ensure quick economic recovery.

The federation executive expressed hope that the new policies of the government will speed up national economic recovery. She also expects the formation of the ASEAN Economic Community in 2016 will enable the regional automotive industry to improve. (MCOT online news)


-- TNA 2014-10-24

Exports down, automotive production down, tourism down!

And the SET goes like a rocket??

Bubble anyone??

"the formation of the ASEAN Economic Community in 2016" ??

Is somebody out by a year, or did I miss something?

nothing to do with the mega over inflated price then?? quick fix less automotive tax i for one would join the queue

Day 1 of this country's implode. Stay tuned...more to come.

The moneylenders just woke up to the fact that their garages storing repossessed cars are filled to the brim.

Exports down, automotive production down, tourism down!

And the SET goes like a rocket??

Bubble anyone??

Target: 2.1

Done: 1.9

What is missing how much was it last year. Is it really down or just slower increasing?

This is a throw back to the Yinkluck Government creating a false economy based on heavily subsidised auto purchase.

Its coming home to roost now

Down even more when they increase the vat to 10%.The Thai way profit down lets put the price up.

And if Indonesia gets its act together, it will be the new automotive hub in SEA. Time Thailand stopped sitting on its laurels, grow up and do something affirmative and sustailable.

Edited October 30, 201411 yr by outsider