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Strategic Analysis of Passenger Vehicle Market in Thailand
Frost & Sullivan, July 2010, Pages: 83
This research service covers in detail the passenger vehicle market in Thailand. It covers Thailand's macro economic indicators and demographic overview, market drivers and restraints, structure of Thailand Automotive industry, automotive cluster in Thailand that includes OEMs, tier1, tier2 suppliers, government, educational institutions, associations. This research service also includes in detail Automotive recap 2009, automotive market outlook, OEM and supplier profiles.
This Frost & Sullivan research service titled Strategic Analysis of Passenger Vehicle Market in Thailand provides an overview of the passenger vehicle market in Thailand including macro economic indicators, automotive industry and supply chain overview, national automotive policy and application, automotive recap 2009, market performance analysis and outlook, and profiles of key original equipment manufacturers (OEMs) and suppliers.
Market Overview
Japanese OEMs Increasingly Shift Passenger Vehicle Production to Thailand
The Thai passenger vehicle market has emerged the largest producer of vehicles in the Association of Southeast Asian Nations (ASEAN), with all major Japanese, European, and U.S. OEMs setting up manufacturing bases in the country. Major Japanese OEMs are grappling with the rising Yen, which is likely to force them to shift production from Japan to Thailand - the vehicle production hub in ASEAN. Thailand also has high production capabilities and a well-established and technology-capable auto component industry. Exports already account for a large percentage of the passenger vehicle sales in Thailand. “The Government of Thailand focuses on transport and logistics as its third largest investment, which is likely to establish the country as a global automotive production hub,” says the analyst of this research. “The Government has also introduced the Eco car export-oriented policy, capitalizing on the rising popularity of small cars in the European Union and United States.”
While the plan to expand production capacity for the Eco car project is on track to make the most of the market’s potential, the economic downturn in the United States, Australia, and other developed nations has impeded passenger vehicle production in Thailand. Furthermore, the continuing political unrest has kept investors at bay. In 2009, the automotive production fell by 28.5 percent to just below the 1 million mark, reflecting weak domestic and overseas demand due to the recessionary forces. However, the Thai automotive industry is upbeat after an upturn in sales in Q4 2009 and Q1 2010. Economic stimulus measures from the Government, free petrol vouchers, and interest rate promotions boosted sales in 2009, despite a considerable decline in production. “As the effects of recessionary forces show a downward trend worldwide, there is expected to be a recovery in export demand for Thai vehicles,” notes the analyst. “Along with an improved economy and positive consumer sentiment, the total industry volume (TIV) is expected to see considerable growth in 2010.”
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