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Thailand’s car sales up 12.1% in March, to exceed 900,000 this year

The Federation of Thai Industries (FTI) says Thailand’s automobile industry is picking up with sales target end of this year to exceed 900,000 units

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The Federation of Thai Industries (FTI) says the country’s automobile industry is picking up both in production and sales with sales target end of this year to exceed 900,000 units

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The country’s domestic car sales rose 12.1% to 95,082 cars in March from a year earlier, boosted by Bangkok Motor Show and improving public and private investment, the Federation of Thai Industries (FTI) said on Wednesday.

The FTI has forecast domestic car sales of 900,000 vehicles this year after a 13.4% jump in 2017, which was the first annual increase in five years and by the end of this year, total production could reach its target for 2 million cars.

According to FTI production in March this year was 195,257 units, up 9.21% from the same month last year, and the highest in the past 56 months since 2013.

For the past three months of this year, total production was 539,690 units, or 11.15% increase over the same period of last year.

Annual domestic car sales contracted during 2013-2016, following the end of a government car subsidy scheme in 2012, when sales surged 81%.

In March, car exports increased 4.7% year-on-year to 110,946 vehicles.

The FTI forecasts car exports at 1.1 million this year after 1.14 million cars exported last year.

Thailand is a regional vehicle production and export base for the world’s top carmakers. The auto industry accounts for about 12% of Southeast Asia’s second-largest economy.

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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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Why Thai Firms Should Care About the Career Stage of China’s Officials

In Chinese bureaucracy, large-scale leadership turnover happens every five years, right on the heels of the Party’s National Congress: think of it as a window of opportunity for promotions, but with a few constraints

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Governments typically set a wide range of goals. This is reasonable and expected: For a society to grow sustainably, social stability-related targets are just as critical as economic ones.

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Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry

Last year, Thailand removed cannabis and hemp leaves from its list of banned narcotics (seeds and buds remain banned).

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Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry over the next five years, but farmers stand to make little from growing the herb, experts say.

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