Thailand’s Automotive Industry Recovers and Prepares for Export Growth

Thailand's Automotive Industry Recovers and Prepares for Export Growth

Thailand is the ASEAN Automotive Hub, with the largest vehicle assembly capacity and high-quality parts manufacturing capability from any country in the region.

Rebounding from last year’s flood crisis, Thailand’s automotive industry which was devastated including parts and accessories saw potential growth in the export market through increased production and innovation.

Manufacturers such as Honda, Toyota and Chevrolet have been fast in their recovery, which ultimately increased investment and demand from the global economy.

Innovation and New Product Development

As there has been speedy growth, new products are being launched by car-makers with attention towards Eco-friendly or hybrid cars in support of Thailand to be an Eco-car production powerhouse. The top 5 companies taking part in this initiative are Honda, Toyota, Suzuki, Nissan and Mitsubishi.

Current popular hybrid or Eco-cars are:

• Nissan March

• Honda Brio

• Suzuki Swift

• New Honda Jazz hybrid

Also recently this year, Mitsubishi launched its first and new global compact car – Mirage with exports to Japan in July this year and then to the ASEAN, European and other markets respectively.

Auto parts

There are around 1,800 automotive parts suppliers in Thailand, of which around 700 are available as OEMs.

For exports, the auto parts industry is rather complicated and difficult. Many automotive manufacturers in Thailand already have exclusive contracts with their customers and cannot produce for their competitors also. Also small manufacturers cannot cope with large and specialized orders.

However, the Thai Department of Trade, just this year hosted the Thailand Auto Parts & Accessories 2012 (TAPA 2012) trade fair featuring auto parts & components (OEM/REM), auto accessories, petroleum /lubricants/maintenance products, tools & machines and even vehicles focused on promoting items to buyers and importers from around the world.

Some of the major products and services that were on displays included:

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How to Calculate Car Insurance Premium

Car insurance is one of the mandatory documents to have in India. Once you buy a car, it compulsory to get its insurance done. As per legal requirements it is required to always keep the insurance handy whenever you are on the road in a car. Most of the car insurance policies are valid for one year. After a year, you will have to renew the car insurance policy and the new premium is decided on the basis of factors like depreciation, NCB, and applicable taxes.

These days most of the companies also have a car insurance premium calculator available on their portal. They would ask you to fill up the details like car brand name, model of the car, the year of the manufacture, and registration date etc and calculate your premium.

Calculation of Car Insurance Premium

The calculation of premium is done mostly by this simple formula:

Premium = Own Damage Premium – (No claim bonus + discounts) + Liability Premium (minimum statutory premium to be paid as Fixed by the IRDA)

Car insurance premium is calculated based on the following factors:

  • OD Premium or Own Damage Premium: This is the premium charged by the insurance company to in sure the client’s four wheeler against the damages of accident, fire, theft, etc.
  • IDV or Insured Declared Value: This is value of the car that comes after deducting the depreciation percentage. Or,IDV = Ex-showroom price of the car + cost of accessories (in case it has) – depreciation value. The depreciation can be anywhere between 5% to 50% as per the age of the vehicle.This is the final figure of the four wheeler on which your policies will be decided. This value will be used in the case of complete loss of the vehicle affirmed by the keen evaluation
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AutomotiveIn 2016 the U.S. manufacturing industry was relatively stable with overall production slightly up from previous years. By 2020, it is projected that some 85% of autos created in the nation will be energy effective cars (EEVs), producing Malaysia the regional hub for EEVs in line with this, the Malaysia Automotive Institute (MAI), will set up a particular booth at the Autoshow to share its vision as nicely as produce awareness to aid turn Malaysia into a regional base for Energy Efficient Vehicle (EEV) production.

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DuPont car safety solutions are assisting protect folks across the car worth chain, from improved worker security to greater airbags and tougher automotive glass. These technologies serve as the basis for automotive ASIC and application distinct normal solution (ASSP) solutions for powertrain, safety, physique, dashboard, in-car-networking (IVN), sensors, and actuator applications. Let the paint to dry/cure at least 24 hours to make sure it won’t contaminate your metal clay. Our skilled technicians are right here to listen to your inquiries and give you truthful answers about the service and repair you need to have.

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My name is Marco and I am an automotive journalist and supercar owner, I daily drive a Nissan GT-R and I am a massive car nut, in other words! We are a global team with the capability to contact on technical specialists worldwide, enabling us to support our automotive customers to operate in an increasingly international atmosphere. If you really like your auto, you will appreciate Clyde’s Automobile Repair shop for their fast response and the excellant work that they do. When writing out your estimates for components and labor, be sure to add the smallest information like -rings and gaskets. There is no need to take your Ford back to the dealership for upkeep and repair.

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