Thailand Headed for New Vehicle Output Record

Vehicle production in Thailand is expected to grow 2% to a record 2.5 million units in 2013, according to the Federation of Thai Industries.

The group predicts a new record in spite of an 18% decline in year-on-year output during the last two months of the year.

Production surged 7% to 2.12 million vehicles in the first 10 months of 2013. But output in October plunged 27% to 185,100 units, as exports slipped 4% and the end of a government subsidy program triggered a 42% drop in domestic sales.