Thailand International Motor Expo 2014: Page One
Motor Expo 2104 is currently underway at Impact Arena, under this year’s theme of “Moving Forward Together – ASEAN Autos”. In 2015 an important economic event will take place, with the ASEAN Economic Community aiming to bring about tangible cooperation in business and industry among the 10 ASEAN member countries to strengthen and increase the competitiveness of the region.
The automotive industry is one of the sectors that will be promoted to share the single market and production base, with Thailand, Indonesia, Malaysia, Philippines and Vietnam among the member countries investing in the automotive industry.
In overall comparison, Thailand's automotive industry has the highest potential, capable of producing over two million vehicles per year, half of which are being exported to overseas markets. Thailand is a significant production base in the category of one-ton commercial vehicles or pickup trucks and standard energy-saving vehicles or eco-cars.
Indonesia has the second largest auto industry, which is fast growing thanks to the state promotion of the production of low-cost green vehicles.
Though producing less than 100,000 cars per annum, the Philippines is a major automotive parts manufacturer of ASEAN while Vietnam has attracted many investments by Chinese manufacturers in production bases for various types of commercial vehicle operating under government support.
Moreover, the over 600 million total population of the region combined with the expectation that by 2018 the ASEAN automotive market size will be over 4.7 million vehicles per year, ranking sixth in the world, will entice major manufacturers to step up investment in the region on a continuing basis.
It is evident that if the production and managerial costs of operators are reduced, vehicle prices tend to represent better value for money. When knowhow can be transferred without restriction, production standards and technologies will be higher. And after the fall of the tariff barrier, a wide variety of vehicles will be available in the market for buyers to choose from.