General Motors is considering making an additional investment in Thailand by adding new models to its facility in Rayong province in Thailand’s eastern seaboard area, the head of Thai operations told Reuters on Wednesday.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We’re looking at 1-2 new models to add to the Rayong plant portfolio. If we do that, we’ll invest more in Thailand,” William Botwick, president of General Motors Thailand and Asian operations director for General Motors Asia Pacific, reportedly said, adding: “We’re still studying what product it will be. No announcement will be made before the end of this year.”
The investment might be seen “in the next few years,” Botwick reportedly said but declined to elaborate on the details.
Reuters said Botwick gave no indication what the new product will be but said General Motors wants to play a significant role in the Thai pickup truck market, which is the second largest after the US.
“We want to become the biggest player in the pickup truck market in Thailand. However, we need to execute programmes and add products to that segment,” Botwick told the news agency.
Reuters noted that General Motors started producing Isuzu pickup trucks for export in June with production line capacity of 45,000 units a year but it doesn’t market the trucks locally.
General Motors’ first assembly plant started production in 2000, Reuters said, and the company so far has invested more than $US700 million in Thailand where its plant produces the Isuzu pickup trucks, mid-sized [Daewoo-designed] Optra sedan and the Opel-designed Zafira multipurpose [minivan] vehicle. Total production this year is expected to be 45,000 to 50,000 units, the report added.
Botwick told Reuters General Motors Thailand targets its exports and local sales to grow around 20% this year, from 40,000 units and 4,000 units, respectively.
The growth of more than 20% for exports and domestic sales is expected to continue next year, he reportedly added, while total vehicle sales in Thailand are expected to be more than 500,000 units this year.
Reuters said General Motors on Wednesday launched the [Australian Holden-built, Commodore executive sedan-derived] Chevrolet Lumina priced from 2.65 million baht to THB2.75 million and expects to sell around 100 units this year.
