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March 22, 2009

Thai auto exports seen rebounding in second half

Thailand’s exports of vehicles are expected to improve in the second half of 2009 on the expectation that the world economy, including that of Thailand, would recover, an auto expert was quoted by Thai News Agency as saying Saturday.

Surapong Paisitpatnapong, spokesman of the Federation of Thai Industries’ Automotive Industry Club said the sector in Thailand is optimistic that the world economy, including Thailand and its major trading partners including the United States, Europe, Australia, China, Japan, Indonesia and Malaysia, should improve during the second half of this year after governmental economic stimulus measures to boost their economies.

With high expectations that the recovery measures will help boost economies around the world, the number of purchase orders for cars assembled in Thailand should also increase, Surapong said.

The Automotive Industry Club has maintained vehicular production in 2009 at 1.08 million units, with exports taking 590,000 units and the rest for domestic sale. In the same timeframe, dealers are expected to import about 10,000 units.

Car production in Thailand during the first two months this year contracted 49 per cent in line with an earlier projection, Surapong said.

Overall contraction for the first half of 2009 has been estimated at between 40-50 per cent of the same period last year.





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