According to the Federation of Thai Industries (FTI), the government’s first-car policy has made Thailand the number 1 car seller in the ASEAN region.
Mr. Surapong Paisitpattanapong, Spokesman for the FTI’s Automotive Industry Club, revealed that the government’s first-car tax refund project has contributed to significant growth of the Thai auto industry. Thailand’s car production sector is currently holding over 50 percent of the market share within ASEAN.
He said in the first 8 months of 2012, Thai auto production rose by 30 percent, while auto export increased by 46 percent.
Mr. Surapong expects around 200,000 cars to be produced each month for the rest of the year, which will help boost the annual production from the original target of 2.2 million cars to 2.3 million.