Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.
Thailand Automotive Institute‘s President Pisit Rangsaritwutikul said automobile exports from Thailand will continue to face challenges from safeguard measures implemented by some countries, such as the Philippines, which effectively limit the amount of auto imports into their countries.
This import limitation by the Philippines is expected to affect the amount of Thailand’s auto exports, as Thailand is the second largest and the largest sedan and pick up trucks to the Philippines respectively. This measure is expected to stay until 8 August, with a possibility for further extension.
According to TAI’s Next Generation Automotive Research Center, Thailand’s automotive sector produced a 19-month high of 172,455 cars in November 2020 alone, with the total output from January to November 2020 at 1,284,202.
This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.
The TAI notes that the sector may face some uncertainties until March 2021 from the resurgence of COVID-19 cases around the world.
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).
THAI airways to sell training center building to raise more funding
THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation.
THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so.
Can the Subscription Economy Save Financial Services?
Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.
As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.
ASEAN, China reaffirm commitment to strong partnership
The implementation of the new Plan of Action for the period 2021-2025, which is designed to further strengthen ASEAN-China cooperation...
Thailand sees gradual return of events and festivals
The Tourism Authority of Thailand (TAT) would like to provide an update regarding the gradual return of events and festivals...
Thailand’s Stock Exchange (SET)’s board elects Prasarn Trairatvorakul as new Chairman
The Stock Exchange of Thailand (SET)'s Board of Governors (BoG) today resolved to elect Prasarn Trairatvorakul as the 17th Chairman...
Foreigners’ Participation in Thai Listed Companies explained
Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai securities flexibly...
Gambling in Asia: Thailand and more
There is a large demand for gambling throughout Asia, which is detailed below in a comparison between various countries, such...
EEC Expects 300-billion-baht Investment This Year
BANGKOK (NNT) – Thailand expects investment to triple to at least 300 billion baht in the Eastern Economic Corridor (EEC)...
Subscribe via Email
Economics7 days ago
1.7 million Thais without smartphones register for "Rao Chana" benefits
United States7 days ago
US pledges to enhance cooperation with Mekong subregion’s countries
Startups7 days ago
Traveloka to launch financial services in Vietnam and Thailand
China1 week ago
Mainland China is in no position to take Taiwan by force