Thailand is ASEAN’s Automotive Hub, with the largest vehicle assembling capacity and the best parts manufacturing power of any nation inside the region.
Rebounding from previous year’s flood crisis, Thailand’s hard hit automotive industry including accessories and auto parts sees potential development in the export market through increased innovation and production.
Manufacturers like Honda, Chevrolet and Toyota have been fast in the recovery of theirs, which is ultimately improving investment and demands from the global economy.
innovation and New Product Development
As there continues to be speedy growth, new products are being launched by car-makers with attention towards Hybrid or eco-friendly automobiles in support of Thailand to be an Eco-car production powerhouse. The top five companies taking part in this initiative are Honda, Toyota, Suzuki, Nissan and Mitsubishi.
Current popular hybrid or Eco-cars are:
• Nissan March
• Honda Brio
• Suzuki Swift
• New Honda Jazz hybrid
Also just lately this year, Mitsubishi introduced its very first as well as new global compact automobile – the Mirage with were exported to Japan in July this season and after that to the ASEAN, various other markets and European successively.
There are about 1,800 automotive sections companies in Thailand, of what about 700 are available as OEMs.
For exports, the auto-parts industry is a bit tricky and difficult. Many auto manufacturers in Thailand already have exclusive contracts with the customers of theirs and can’t produce for their competitors also. Also small manufacturers cannot cope with specialized and large orders.
Nevertheless, the Thai Department of Trade, only this season hosted the Thailand Auto Parts & Accessories 2012 (TAPA 2012) trade fair featuring auto parts & parts (OEM/REM), car accessories, oil /lubricants/maintenance products, tools & machines and also automobiles focused on advertising items to buyers and importers from around the earth.
Several of the major products and services that were on displays included:
• Fuel injection pumps
• Injection nozzles
• Anti lock braking systems
• Electronic methods to support mold and die technology
• Research & Development Centers
• ECUs, sonar and central locking systems
At the beginning of 2012 (between January to March), Thailand’s automotive industry grown near 191,000 auto products of that forty seven % were exported to Japan, ASEAN, US and European markets. Of the automobiles, the vast majority of the vehicles released were double cab pickups accompanied by passenger cards. The SUVs were the very least produced and exported this season so far.
In respect to the OEM auto-parts, the exports valued up to over US 36.6 thousand Dollars in January.
Looking at the trend after 2005 and anticipated export till 2015, sales have been steadily increasing, except for 2009 as well as 2011 because of efficient and flood crisis during those years.