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China's car and Beiqi Foton Motor truck manufacturer has made a foray into the Thai auto market by establishing a wholly owned subsidiary to manage the sales and production of pickup trucks Foton, of VLP passenger pickup vehicles passenger cars in Thailand.
According to Geng Chao, president of Foton Motor Thailand, the company based in Beijing recently set Foton Motor Co Thailand with registered capital of 102 million baht and sits on On Nut road to take control of both sales production and vehicles in Thailand.
Earlier, sales of Foton were treated by the Thai distributor authorized, United Motors Co, formerly DFSK Thailand.
United Motors, however, remains one of the dealers Foton and a local assembler for light trucks Foton United Motor sold 400-500 Foton trucks during 2014-16.
According to Chao, the parent company has recently signed a memorandum of understanding with the General Assembly Bangchan Co BGAC to produce vans Foton, PPV and passenger cars to be sold in the country.
BGAC is a subsidiary of Phra Nakorn Automobile Co, a Thai automotive distributor and parts manufacturer Previously, the assembler for Daihatsu, Opel and Holden.
Production is expected to begin next month with a maximum capacity of 10,000 units per year.
Foton has already sought the advice of investment privileges, with the company committing to use 40 percent local content in production.
Chao said that the first pickup truck in Thailand will be launched by the end of November and Foton will join the Thailand International Motor Expo from 1 to 12 December.
He said the company is optimistic about the Thai market because of the country's geographical location and its position as an automotive production base in the region.
Although the Thai auto market is dominated by Japanese automakers, Chao said Foton remained confident about the quality of products and technology, as well as world-class components Foton working with US partners in Germany such as Cummins, Dana, ZF and Continental develop the technology, he said.
Currently, Toyota controls 30 5 percent of the automotive market in Thailand, while Isuzu and Honda account for 19 percent and 14 January 7 percent, respectively.
The club of the automobile industry of the Federation of Thai Industries expects that domestic sales will remain at 750.000 to 780.000 units this year, up to 25 by January 1 22-1 range of 2 5 percent to 6 percent 2 with rising exports 1-3 million units per cent.
in 2016 car production in the country is expected to increase 2-4 percent to 1 95-2000000 units.
Chao plans to sell 3,500 vehicles in 2017 and 6000 in 2018.
The company also plans to increase Foton dealerships and service centers from 17 currently to 26 by the end of the year and up to 70 in 2017.
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