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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: Thai auto production likely to fall 20 percent next year: industry AFP - Friday, December 19 BANGKOK (AFP) - - Thailand's car manufacturing production is likely to fall by 20 percent next year as the global economic crisis bites, the Federation of Thai Industry (FTI) said Thursday. "The trend for the auto market next year is obviously negative in both domestic and foreign markets. The downward trend has already started this quarter," said Piengjai Kaewsuwan, chairman of the FTI's Automotive Industry Club. The announcement follows poor car sales in Thailand. They fell 20.2 percent in November, the sixth consecutive month of decline and the steepest of the year. But Ninnart Chaithirapinyo, a senior industry representative, said the slowdown in production was the result of mostly global factors rather than domestic concerns. "Next year we expect high volatility of currency exchanges, oil prices and stock markets, which are likely to affect the global economy and Thai auto exports too," Ninnart said. Thailand's car manufacturing industry accounts for about 16 percent of the country's gross domestic product. General Motors in Thailand said last month it would halt assembly for two months at its plant in the eastern province of Rayong and shed 250 staff due to slow demand as efforts by its struggling parent company to obtain a US bailout faltered. 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: Business KB Toys gets approval for store liquidationsAP - 28 minutes ago LG Elec reshuffles business units, top managementReuters - 29 minutes ago DOJ sues Microsemi to unravel merger with SemicoaAP - 33 minutes ago China to dispatch ships to battle Somali piratesAP - 37 minutes ago Oz Minerals says to shut Avebury nickel mineReuters - 46 minutes ago Enlarge Photo Thai auto production likely to fall 20 percent next year: industry Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine 'Dark energy' expands, contracts universe: researchers US doctors hail near-total face transplant Dollar dives to 13-year low against yen after Fed cut Chrysler halts manufacturing as clock ticks on gov't bailout View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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