(1888PressRelease)
August 02, 2007 - Kwanchai Paphatphong, Organizing Chairman of the Motor Expo 2007 said about car market situation,”The overall picture is that during the first half of the year there was a slowdown, total sales dropping by about 12.6% compared to last year as the economy was still adjusting itself and the political outlook was not yet clear”.
“Anyhow the climate began to change for the better when Prime Minister General Surayut Chulanont gave his pledge to return democracy to the people by having a General Election within this year after the new draft constitution has passed referendum.”
The measures to revive the economy also helped, especially when Mr. Kosit Panpiamrat, Deputy Prime Minister and Minister of Industry, confirmed his support of the Government policy to help restructure the industrial sector for greater efficiency as well as to push forward the “EcoCar” project, to which Honda was the first to respond, confirming its participation which requires as much as 6,200 million baht extra investment in plant and machinery.
“I think having a General Election in December as scheduled by the Government is most reasonable because it will bring democracy back to politics. The important thing is that people will have confidence in spending and the purchasing mood will return. Spurred on by Government measures to invigorate the economy in various aspects, tension in the economic situation will be considerably relieved. Besides, the EcoCar project, to which Honda has positively responded, will motivate other makers to act also in order not to miss an opportunity in the future. This will certainly enliven the competitive climate.
The Organizing Chairman went on to say, “From now on the auto car market will enjoy change in the positive direction, especially in the short period during the last quarter of the year, which normally is a high growth period in car buying anyway. The General Election will help expand the car market further and, of course, the timing will coincide with the running of Motor Expo 2007 from November 29 – December 10, 2007. There is a chance then that aggregate car sale this year may possibly close at a level pretty near last year”.
“Car sale volume in the period of Motor Expo at the end of this year is likely to reach 15,000 units, similar to last year. And if things turn out that way it would be very satisfying, because the car market is still recuperating and is not yet fully healthy”.
“In addition, the fact that many models and many brands of cars will be debuting in the Motor Expo—Hyundai from Korea is one, plus at least 3 prototype cars on display—will help immensely to attract visitors to the Expo and make their purchase decisions, reviving the car buying mood once again”.
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