GM Thai Unit Cuts '09 Output Target To 45,000 Units Vs 50,620
20 März 2009 - 12:07PM
Dow Jones News
The Thai unit of General Motors Corp. (GM) has lowered its
production target this year because of weakening economic
conditions.
Production this year has been revised down to 45,000 units from
the previous estimate of 50,620, General Motors (Thailand) Ltd.
public relations director Sasinan Allmand told Dow Jones Newswires
Friday.
"This is the latest adjustment, to be in line with low demand...
the figure is pretty much settled now," said Sasinan.
In 2008, GM produced a total 104,461 vehicles at its Thai plant
in the eastern seaboard province of Rayong.
"We hope the government will implement measures to stir
(domestic) demand," Sasinan added.
General Motors (Thailand) has reduced its headcount by around
790 employees so far this year, leaving its current staff levels at
nearly 2,000.
The company is seeking the Thai government's support to
facilitate funding sources for its future investment in a THB15
billion ($424 million) diesel-engine and one-ton pickup
project.
"We expect to finalize it (loan details) by the end of this
year," said Sasinan.
Earlier this year, GM representatives held talks with the Thai
Industry Ministry about funding for the project, but the company
has declined to elaborate on the discussions.
Local newspapers have said GM was seeking THB5 billion from the
Thai government.
-By Supunnabul Suwannakij, Dow Jones Newswires; 66 2266 0744;
tu.suwannakij@dowjones.com