Automotive Sales Statistics for November 2013 have been released - along with total production, local & export sales, published by Toyota Thailand and the FTI.And 2014 - same same or different?
Analysts and FTI both assume that 2014 will be about the same as 2013, I believe that overall production and export should see further growth as new capacities from existing and new players come online.
In the mid-term Thailand will certainly benefit from:
- local growth - Thailand is now an upper middle income country (World Bank) and it's domestic sales can be expected to grow at twice the rate of GDP, so about 9%
- growth in the middle east - where Thailand also has a strong market share
- more upcoming world wide programs - such as the Mitsubishi Mirage which is exported globally - even to the US and Japan
- and last not least - the demise of the Australian auto industry which has gone into full self-destruct mode. 2 out of 3 remaining OEM's have announced plant closures within the next 3-4 years and Australia (and NZ) belong to the Thailand's main export countries...
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