Jaguar Unravel Prospects in Thailand Market

Thailand: The renowned carmaker, Jaguar Land Rover Automotive, recently, discussed about the huge potential of the Thailand automotive industry, considering the promising growth of luxury passenger car segment across the region, over the coming five years.

As per the MD (Managing Director) of Jaguar Land Rover Asia-Pacific, Robin Colgan, the Thailand premium car market has been witnessing a strong growth, in comparison to other markets of Southeast Asia, wherein, the demand for SUVs as well as passenger cars has been inclining. He further added "At present, the Thai luxury segment represents roughly 4-5% of the overall car market which I believe has plenty of room to grow, compared with as high as 10% of the total car markets in many developed countries.”

The Managing Director of Jaguar, also stated about the company’s interest to get into partnership with Inchcape (Automotive Retail & Services Company). Inchcape would act as the exclusive importer as well as distributor of Jaguar Land Rover cars in few areas of Thailand. Moreover, Inchcape has already setup a local subsidiary in July 2016, namely, Inchcape Thailand Co. to expand sales of Jaguar Land Rover vehicles across the country.

Inchcape Thailand, recently, launched the brand-new luxury car model, Jaguar F-Pace SUV ranging between USD132,000 to USD168,600 in the country. Besides that, the MD also discussed about the company’s keen interest to import the Jaguar I-Pace in Thailand, as a promotional activity, to encourage Electric Vehicle penetration in the country.

As per TechSci Research, Jaguar Land Rover Automotive, already ranks among the prominent players in the Thailand luxury car industry. Also, it has been witnessed that demand for premium luxury cars is escalating in the country, since last few years, which has relatively influenced the sale of tires in the OEM segment of the country’s market. Moreover, considering the inclining sale of premium SUVs, the company took a step to launch, Jaguar F-Pace SUV in Thailand, which is further expected to drive OEM Tire Market in Thailand.

According to a recent report published by TechSci Research, “Thailand Tyre Market Forecast and Opportunities, 2020’’, the country has emerged as one of the most preferred destinations for automobile production for various leading global automotive players due to availability of cheap labor and geographical advantage of its location in the ASEAN (Association of Southeast Asian Nations) region. Thailand is the leading rubber producing country worldwide, and accounted for around one-third of the global rubber production in 2014. Major global automotive OEMs such as General Motors, Toyota, Honda, Mitsubishi, Honda, Isuzu, Ford, Nissan, etc., have established their manufacturing plants in Thailand, in order to address increasing domestic as well as global demand for automobiles, which in turn, has been surging demand for automotive tires in the country.