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FTI upgrades production target on export prospects


FTI upgrades production target on export prospects
published :
23 Jul 2021 at 06:33
The Federation of Thai Industries (FTI) has increased its total car production target this year to 1.55-1.6 million units, fuelled by good export prospects, although the third wave of the pandemic is expected to deal a blow to the domestic car industry.
Toyota Motor Thailand had to close its factory for at least three days after its auto parts supplier was affected by the transmission of Covid-19, according to the FTI.
However, the FTI remains optimistic about car export markets due to more demand in many countries, including New Zealand, Japan, Mexico, Malaysia and Vietnam, as the global economy is recovering. ....

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Thailand's booming autos exports help plug gaping tourism hole


By Syndicated Content
By Orathai Sriring and Satawasin Staporncharnchai
BANGKOK (Reuters) – As tourism-reliant Thailand struggles with a collapse in foreign visitors, the country’s auto sector is picking up some of the slack with the value of car exports tipped to surge to a record this year as the global economy reopens.
The Southeast Asian nation is Asia’s second-most popular tourist destination but its famous beaches, street markets and pagodas have been starved of business over the past year due to pandemic restrictions that have crippled global travel.
While Thailand’s central bank has downgraded its projections for this year’s economic growth due to the hit to consumption and tourism, it last week raised its 2021 export growth forecast to an 11-year high of 17.1%, up from the 10.0% rise forecast in March. ....

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