Automobile exports could set a new record this year with projected shipments of 1.16-1.22 million vehicles, up 6-11% on the 1.09 million units shipped last year, the Kasikorn Research Centre predicted on Wednesday.
The research centre said investors' confidence remained intact, Thailand had shifted more to export-oriented automobile production, new markets were opening, including North America, the global economy was recovering and the Thai baht had depreciated. These were all positive factors.
The centre said exports of passenger cars may rise faster than commercial vehicle exports this year. However, exports of passenger cars from Thailand to Indonesia and Malaysia fell significantly, as both countries raised local production.
It predicted growing automobile exports to the main markets of Australia, the Middle East and the Philippines. There were also bright prospects in New Zealand, Cambodia, Laos, Myanmar, Vietnam, Peru and the United States.
In the first four months of this year Thailand exported about 357,000 vehicles, up 1.5% year-on-year.