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Thailand’s vehicle sales up 58%

Automotive manufacturing in Thailand started 50 years ago after a Japanese company set up operations as an import substitution activity to take advantage of preferential tax and import duty treatment.

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Thailand’s total sales of vehicles in the first four months of 2010 January-April reached 223,361 units, up 58 per cent from the corresponding period last year.

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According to Mazda Sales Thailand Co.Toyota retained its rank as the top distributor with 92,406 units, up 53.3 per cent, followed by Isuzu with 46,071 units, up 43.8 per cent, Honda with 29,739 units, up 78.8 per cent, Nissan with 13,208 units, up 75 per cent, Mitsubishi with 10,483 unit, up 100.9 per cent, and Mazda with 10,483 units, up 219 per cent.

Total vehicle sales in April were 57,111 units, up 44 per cent from the same month the year before.Of this, 24,367 units are cars, up 69 per cent, 22,235 units are one-ton pickups, up 18 per cent, and 10,509 units are other kinds of vehicles.Mazda Sales Managing Director John Ray said the auto market in Thailand had enjoyed a more promising prospect since 2009, particularly in November. He conceded the inauguration of Mazda 2 had pushed up local vehicle sales, particularly the B-Segment vehicles, for six consecutive months. TNA

via Thailand’s vehicle sales surge in first 4 months of 2010.

Automotive manufacturing in Thailand started 50 years ago after a Japanese company set up operations as an import substitution activity to take advantage of preferential tax and import duty treatment. Laws mandating local content were subsequently introduced, with the limits raised from an initial 30 percent to 40 percent and then 60 percent, to be abolished after the 1997-98 financial crisis.

Thailand is Honda's largest export production base for power products. The company exports a wide range to more than 80 countries, with Asia-Oceania, the US and Europe the main markets

All pickup truck production prior to the 1997/1998 financial crisis was intended for domestic consumption, but companies began exporting after Japanese pickup producers shifted production from Japan to Thailand at the turn of the century. Tax and excise incentives by the Thai authorities encouraged domestic sales of pickups at the expense of cars, and pickups still amount to almost three-fourths of current output. The cost of local labor appears to amount to just 5 percent of the value of output, half the level in the U.S., likely reflecting much lower wages and the high labor component of imported electronics in Thailand.

Thanks to the relocation of pickup producers to Thailand, and the spillovers into car manufacturing, automotive production has surged in the past decade, rising from about 145,000 cars in 1998 to 1.4 million in 2008, establishing Thailand as the largest automotive producer in Southeast Asia and the largest producer of light pickup trucks in the world.

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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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Thailand ranked 3rd in ASEAN on Economic Freedom Index

Thailand has a business freedom index of 85.3 out of 100. This is a big improvement over last year, which helped to increase the country’s overall score to 69.7, a 0.3 point jump from last year.

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Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia.

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