Auto Council - Industry Updates

Auto Council - Industry Updates

On May 22 to over 50 attendees, AMCHAM's Auto Council Co-Chair Arnupab Tadpitakkul gave an update regarding the state of the auto industry in Thailand. He focused on impacts from covid-19 and the industry's ongoing dialogue with government for assistance and relief measures.

Arnupab began the discussion citing a few predictions on the state of the Kingdom's economy. With some banks predicting an economic contraction of nearly 14%, many industries are looking to experience similar financial distress. He stated that consumption of consumable goods is down across the board but especially cars and demand is expected to fall at a greater pace. Car production is at its lowest point in the past thirty years and companies are looking at mitigating the circumstances. Members on the call offered insights and data points from their respective companies and countries. Arnupab stated that covid-19 was a Black Swan event; an event that comes as a surprise and has a major effect.

The final portion of the agenda highlighted efforts in seeking government assistance and relief measures with the auto industry. As it is the purpose for AMCHAM's Auto Council to provide a forum for discussion of automotive issues and trends facing Thailand manufacturers and associated industry suppliers based in Thailand, this portion of the meeting was met with robust discussion among industry leaders.

The presentation is available on the AMCHAM member portal.

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