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.
Governments most exposed to coronavirus have strong fiscal and external buffers
Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.
As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.(more…)
Bank cuts Thai 2020 GDP growth outlook to 2.7%
SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019
SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.(more…)
BOI steps up investment promotion measures in the EEC
The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a...
Thailand rolls out New Investment Measures to Boost Economy
The new definition of qualified applicants now includes businesses that have not previously received BOI promotion privileges as long as...
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...