Bangkok (NNT/VNA) – Thailand’s car sales this year are likely to go upthanks to the improved purchasing power of many people, in line with recentbetter prices for agricultural products.

This year, the Ministry of Industry expects that 2.2 million cars will bemanufactured in Thailand.

Mr. Phasu Loharachun, Permanent Secretary of the Ministry of Industry, saidtoday that the automotive industry is the main economic activity generatingrevenue for the country. The government has therefore, placed importance onpreparing for the automotive industry of the future, by opening a special areato attract additional investment and create more value for the economic system.Meanwhile, the total number of cars to be manufactured this year is expected toreach 2.2 million which is similar to that of the previous year. Of thatfigure, 1.1 million cars are for domestic sales and another 1.1 million carsare for export.

Mr. Phatthanadej Arsasapphakit, President of the Fast Auto Show Thailand 2019,said today that this year, although the overall economy may be affected by theinternational trade war, he believes that it won’t affect the car buildingindustry in terms of sales of both new cars and used cars because thepurchasing power of many people has improved along with the prices ofagricultural crops, and competition among financial institutions offeringcredit. Meanwhile, sales of electric vehicles are likely to grow in number, dueto the advancement of technology.

The private sector is organising the Fast Auto Show Thailand 2019 which issupported by more than 20 new car and used car operators. There are specialpromotions at the event in response to the various needs of consumers. Inaddition, booths have been set up by financial institutions and entrepreneursinvolved in the automobile industry, to provide credit counselling. It isexpected that at least two thousand new cars and one thousand used cars will besold at the event. The event will continue until June 30 at the BITECExhibition and Convention Centre. – NNT/VNA