Auto industry staging major rebound

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The local automobile industry is expected to experience a boom this year, said Piangjai Kaewsuwan, president of the Thai Automotive Industry Association.

Record output at or above 2.1 million units in 2012 is anticipated.

In the domestic market, sales of 1.1 million vehicles are expected, while exports of Thai-built vehicles are seen hitting 1 million units.

Honda’s plants in Ayutthaya province have not been able to produce vehicles during this first quarter.

The company’s facilities are still being restored and will open open at the end of this month.

Ms Piangjai said the rapid recovery of the industry over the past few months, in terms of both production and sales, could translate into a boom for the industry this year.

Confidence was restored after Prime Minister Yingluck Shinawatra and relevant state agencies said there would be no repeat of last year’s devastation.

Massive flooding battered the industry late last year. Many car factories were brought to a halt even though most of them were not directly affected by the deluge.

Their parts supplies were disrupted by the floods, and they were unable to get components.

Ms Piangjai said the implementation of a 300 baht daily minimum wage will affect the industry far less than originally feared.

Most car makers already …

Full story from Bangkok Post at http://goo.gl/XWwB3