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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Car production could fall 35 percent in Thailand AP - Sunday, December 28 BANGKOK, Thailand - Vehicle production in Thailand could fall as much as 35 percent next year if the global economy continues to worsen, a leading auto institute said Saturday. Thailand is a major production and export hub for pickup trucks made by General Motors Corp., Toyota Motor Corp., Isuzu Motors Ltd. and Mitsubishi Motors Corp. _ all suffering in the midst of a global downturn. Wallop Tiasiri, director of the Thailand Automotive Institute, estimated the decline in Thailand would more likely be about 15 percent. But he said a gloomier economic outlook in the United States and Europe could result in a production drop of 35 percent and the loss of 45,000 jobs. "If the economic situation in major markets, especially in the United States and Europe, deteriorates much further, our production could go down by 35 percent or to 900,000 units," he said. "However, I think this worst case scenario will not be realized." Vehicle production in Thailand hit 1.4 million units this year, up from 1.29 million units a year ago, Wallop said. The sector employs 300,000 people, about a third of them who are subcontracted. Most analysts have predicted the automotive sector in Thailand would eventually be hit as vehicle manufacturers worldwide are cutting production amid the global financial downturn. Last month, General Motors said it would stop production at its Thai plant for up to two months. General Motors and Chrysler LLC earlier this month were granted $17.4 billion in federal loans so they can stay afloat. "Currently the Thai auto industry is still relatively strong. Every company still has their cash inflow," Wallop said. "However, we have to admit the slump of the global markets will hit local companies." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Car production could fall 35 percent in ThailandAP - Sunday, December 28 S.Korea's Lee says economy may shrink in H1 2009Reuters - Saturday, December 27 SKorea's economy may further slow down in 2009AP - Saturday, December 27 SKorea's economy may contract in first half of 2009: presidentAFP - Saturday, December 27 Related Articles: Business Chinese firms to compensate tainted milk victimsReuters - 2 hours 12 minutes ago Car production could fall 35 percent in ThailandAP - Sunday, December 28 S.Korea's Lee says economy may shrink in H1 2009Reuters - Saturday, December 27 Hong Kong airport baggage handlers launch strikeAP - Saturday, December 27 SKorea's economy may further slow down in 2009AP - Saturday, December 27 Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Stars of Hollywood, high-tech open wallets for Obama party Tough times seen ahead for British, Japanese economies Funeral of Guinea strongman as junta tightens grip Australian 'mummy smuggler' arrested in Cairo View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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