Kosit: Bright outlook for auto industry

Thailand's auto industry would continue the expansion despite gloomy economic outlook, said Industry Minister Kosit Panpiemras at a seminar on "World Class Auto Part".

In the past 10 years, auto manufacturing sector has witnessed the 15.2 per cent growth rate per year, while export expands 54 per cent per annum. This boosts the supporting industries, as locally-produced parts account for 90 per cent of all parts. The outlook is bright following the investment in eco-car projects.

He noted that the projects would encourage more foreign companies to invest in auto-parts factories in Thailand.

He expected that in 2011, Thailand would produce 2 million vehicles and 2.5 million units in 2014. As half would be exported, Thailand would be the world's top 10 auto exporters.

- The Nation

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Kosit: Bright outlook for auto industry

Thailand's auto industry would continue the expansion despite gloomy economic outlook, said Industry Minister Kosit Panpiemras at a seminar on "World Class Auto Part".

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