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Business & Economics News

Automobile Industry in Thailand, opportunities and its Incentives

Thailand for years have always strived to become one of the top automobile producers in Asia and has proven themselves to be a reliable foundation to an Industrial point of view.

Having over 50 years of nurturing its Automobile Industry, the Country has become a premier automotive hub within the South-East Asian Region.

Thailand that started off as just auto components assembler is now a top ranking automotive exporting hub and manufacturer, but parts and accessories still remain as the Country’s most valuable export products in its automotive sector.

Automaker giants such as Toyota, Ford and Honda play a big role in the Thailand Automotive Industry, this resulted in the Country’s exporting value to rise around 1.09 trillion BT (Thai Bhat) in 2015, although being dominated by the Japanese Automakers that has established production of Big Haul Trucks and Eco-Cars in the Country which will be located in the central of provinces of the country like Bangkok and Ayutthaya.

Being the 13th largest automotive parts exporter and the sixth commercial car manufacturer in the entire world, Thailand ships to around 100 countries worldwide.

The Country’s automobile industry is accounted to Thailand’s 12% economic growth and it employs to more than 500,000 people. Thailand plans on achieving to manufacture around 3,500,000 vehicles by 2020 and be a competitor in the global automotive market. Thailand still ensures that the Country has an established presence throughout the world’s leading automakers.