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Byline: Nareerat Wiriyapong
Sep. 4--Recent price increases for steel will cost the local automotive industry 700 million baht a year but automakers have declined to say whether they would need to raise vehicle prices as a result.
Surapong Paisitpatnapong, a spokesman for the Automotive Industry Club, said production costs of automobiles would rise by 1,000 baht per unit, assuming 300-400 kilogrammes of steel, including hot-rolled, cold-rolled and stainless types, are used to assemble each vehicle.
Steel is by far the largest raw material used in automobile production.
This year, the industry targets total production of 720,000 units, ...
Source: HighBeam Research, Steel Price Hike Is Costly to Thai Automakers.