Thailand industry body raises domestic car sales forecast for next year

Thailand’s domestic car sales are anticipated at 800,000 units next year, up from an earlier estimate of 780,000, as a recuperating economy raises demand, the Federation of Thai Industries (FTI) stated on Wednesday.

The FTI earlier predicted a 4 percent increase in car sales in 2017. Its estimates 750,000 cars for this year.

Car exports are anticipated to be 1.2 million units in 2017, up from 1.18-1.19 million automobiles forecasted for 2016, Surapong Paisitpattanapong, spokesman for the FTI’s Auto Industry, informed reporters.

Yearly domestic auto sales have been weak from May 2013, following the fading impact of a federal government first-car subsidy scheme, which ended in 2012, when sales leapt 81 percent.

Thailand is a regional auto production and export base for the world’s top automakers.