BANGKOK, 27 June 2019 (NNT) – Car sales this year are likely to go up thanks to the improved purchasing power of many people, in line with recent better prices for agricultural products.
Mr. Phasu Loharachun, Permanent Secretary of the Ministry of Industry, said today that the automotive industry is the main economic activity generating revenue for the country.
The government has therefore, placed importance on preparing for the automotive industry of the future, by opening a special area to attract additional investment and create more value for the economic system.
Car production expected to reach 2.2 million
Meanwhile, the total number of cars to be manufactured this year is expected to reach 2.2 million which is similar to that of the previous year.
Mr. Phatthanadej Arsasapphakit, President of the Fast Auto Show Thailand 2019, said today that this year, although the overall economy may be affected by the international trade war, he believes that it won’t affect the car building industry in terms of sales of both new cars and used cars because the purchasing power of many people has improved along with the prices of agricultural crops, and competition among financial institutions offering credit.
Meanwhile, sales of electric vehicles are likely to grow in number, due to the advancement of technology.
The private sector is organizing the Fast Auto Show Thailand 2019 which is supported by more than 20 new car and used car operators.
There are special promotions at the event in response to the various needs of consumers. In addition, booths have been set up by financial institutions and entrepreneurs involved in the automobile industry, to provide credit counseling.
It is expected that at least two thousand new cars and one thousand used cars will be sold at the event. The event will continue until June 30 at the BITEC Exhibition and Convention Center.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...