Thai industry association raises 2010 vehicle output forecast

The Federation of Thai Industries (FTI) has increased its automobile production target to 1.56 million units this year, thanks to a surge in exports and domestic car sales, aiming to set a new record for Thailand’s auto production in 49 years, said FTI Spokesman Surapong Phaisitpattanapong. FTI increased its 2010 auto production target by 160,000 units from 990,000 units, up 56%, compared to the same period last year. The new target of 1.56 million units will mark Thailand’s highest level of auto production since 1961 when the country had a production capacity of 525 units only. (July 23, 2010)