Thai carmakers predict market recovery in 2 years

Thailand’s automotive industry is expected to bottom out in the third quarter of this year but could take as long as two years to return to normal, Ninnart Chaithirapinyo, vice-chairman of Toyota Motor Thailand Co. Ltd. (TMT), said. “The hardships we are experiencing mean the industry could bottom out in the third quarter, which is normally the low season of the sector,” said Ninnart, also honorary chairman of the Automotive Industry Club. The recovery, however, will take about one to two years before sales volume rebounds to the pre-crisis level in 2005. (February 17, 2009)