Business News
Thailand lowers automobile manufacturing and export targets
Jun 23, 2009, 6:16 GMT
Bangkok - Thailand is expected to produce 940,000 vehicles this year, compared with the 1.4 million vehicles manufactured in 2008, industry sources said Tuesday.
Surapong Phaisitphatthanapong, spokesman for the automobile manufacturing club of the Federation of Thai Industries, said vehicle exports in 2009 were expected to reach 510,000 units, down considerably from the previous target of 784,000 units.
Thailand is a major hub for vehicle production in South-East Asia.
Vehicle and automotive parts ranked as Thailand's second highest export earner in 2008, when the sector earned the kingdom 15.6 billion dollars.
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