Federation of Thai Industry expects auto export for 2013 to up 12% to US$30 billion

Thai PM Shinawatra at Asia Society 22

Thai PM Shinawatra at Asia Society 22 (Photo credit: Asia Society)

Thai Rath, a press group of mostly anti Thaksin, reports Surapong Paisitpatpong, spokesman of the auto caucus at the Thai Industry Federation said the caucus expects Thai auto export to pick up in the second half of this year, resulting an overall 2013 auto export to increase by about 12% to US$30billion. Thai Rath quoted Surapong that global demand for Thai made auto is picking up and the export has increased to about 58% of total Thai auto production, up from 40%. He said exports is expected to hit 1.15 million units. He said however, the stock of automobile at manufacturers, has increased to about 30 days suppluy, up from the normal 20 days supply stock, as many who initiated to purchase auto, under the Yingluck‘s auto tax break scheme to buyers, were un-able to secure loans for their purchase intention. Many anti Yingluck global press, such as Reuters, have been criticizing the Yingluck’s auto scheme as a failure, citing estimates, that about 10% of the car purchased under the scheme, have went sour. Other anti Yingluck press says the auto purchase scheme, diverted funds for other sector of the Thai economy to the scheme, while other say the scheme, increased the debt load of consumers. The anti Yingluck sentiment, goes to the extent of saying the scheme, have added to the traffic problem, and even the scheme have hurt Thailand’s environment, with more exhaust fumes.

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