GM sharpens focus on local SUV market
Saturday, August 4, 2007
GENERAL Motors' regional distributor is keen to further tap into Brunei's market potential.
"We are definitely going to pay more attention to Brunei," said Kittichai Jarusrojpoka, managing director of General Motors Overseas Distribution Corporation.
"I think the market in Brunei is going to grow bigger over the next 10 years," said the Singapore-based official in an interview with The Brunei Times.
The positive outlook is partly due to population growth and the subsequent expansion of the consumer base in the oil-rich sultanate, he added.
"I believe Brunei has a lot of room to grow, especially with the improving economy. The economy has bounced since 1997-1998," he said, referring to the Asian market crisis that severely hit the Southeast Asian region.
"The auto industry is one of the first to recover. Look at Singapore, they experienced a downturn in 2001 but bounced by 2003. I still remember that Brunei sold 611 units in 2004, I was very impressed," he said at the launch of the Chevrolet Captiva in Beribi yesterday. Kittichai declined to comment about GM's specific target market for the Captiva in Brunei but mentioned that sports utility vehicles (SUVs) are immensely popular with "professionals and families".
The demand for SUVs is here to stay, not just in the Southeast Asian region but also in the country, automotive analysts have predicted. The GM official predicts that the national and regional trend for these particular vehicles will remain a sizeable niche market in the auto industry.
Car manufacturers in the region are positive about the market outlook as growing economies help boost the prospects for the car industry, according to analysts.
The Asean Free Trade Area (AFTA) presents opportunities for automotive manufacturers. The scheme eliminates tariff barriers among member-countries and integrates economies into a single production base, resulting in a regional market of more than 500 million people with a total gross domestic product (GDP) of $682.4 billion.
The opening up of Southeast Asia's automotive sector improves the chances of member nations to obtain the economies of scale needed to justify major manufacturing investments, Asia Times Online said.The Brunei Times
"We are definitely going to pay more attention to Brunei," said Kittichai Jarusrojpoka, managing director of General Motors Overseas Distribution Corporation.
"I think the market in Brunei is going to grow bigger over the next 10 years," said the Singapore-based official in an interview with The Brunei Times.
The positive outlook is partly due to population growth and the subsequent expansion of the consumer base in the oil-rich sultanate, he added.
"I believe Brunei has a lot of room to grow, especially with the improving economy. The economy has bounced since 1997-1998," he said, referring to the Asian market crisis that severely hit the Southeast Asian region.
"The auto industry is one of the first to recover. Look at Singapore, they experienced a downturn in 2001 but bounced by 2003. I still remember that Brunei sold 611 units in 2004, I was very impressed," he said at the launch of the Chevrolet Captiva in Beribi yesterday. Kittichai declined to comment about GM's specific target market for the Captiva in Brunei but mentioned that sports utility vehicles (SUVs) are immensely popular with "professionals and families".
The demand for SUVs is here to stay, not just in the Southeast Asian region but also in the country, automotive analysts have predicted. The GM official predicts that the national and regional trend for these particular vehicles will remain a sizeable niche market in the auto industry.
Car manufacturers in the region are positive about the market outlook as growing economies help boost the prospects for the car industry, according to analysts.
The Asean Free Trade Area (AFTA) presents opportunities for automotive manufacturers. The scheme eliminates tariff barriers among member-countries and integrates economies into a single production base, resulting in a regional market of more than 500 million people with a total gross domestic product (GDP) of $682.4 billion.
The opening up of Southeast Asia's automotive sector improves the chances of member nations to obtain the economies of scale needed to justify major manufacturing investments, Asia Times Online said.The Brunei Times
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