FTI jittery on car export goal
Growing concerns from officials over raw material shortage, surging prices
The Federation of Thai Industries (FTI) expects Thailand’s car exports to miss the target of 1 million units this year amid growing concerns over a raw material shortage and surging prices, driven by the Russia-Ukraine war.
Prices of key raw materials for car manufacturing such as steel will increase while the prolonged scarcity of semiconductors, another major component, is possible, said Kriengkrai Thiennukul, vice-chairman of the FTI.
Automakers encountered a global semiconductor shortage long before…
