Germany's Robert Bosch GmbH is upbeat about achieving sales growth of 20% this year from 9.3 billion baht last year.
Peter Vandlik, managing director of the global supplier of technology and services, attributed the promising prospect mainly to Thailand's robust automotive industry, which accounts for up to 70% of the company's annual sales.
Mr Vandlik forecast Thailand's car production will reach 2.7 million units this year, up 12.5% from 2.4 million units in 2012.
Moreover, many automakers plan to expand production, such as Mitsubishi and Nissan, while Honda is constructing its new plant in Prachin Buri.
"Continued investment by automakers indicates healthy industry growth," he said. "Domestic sales may slightly dip this year after the government first-time car buyer scheme expired, but exports should surge."
Mr Vandlik added the company is committed to investing more to expand auto parts production in Thailand.
The company allocated a budget of around 7 million euros this year and plans to raise spending for new auto parts production.
Future investment will be disclosed by the end of 2013.
Bosch operates an auto-parts plant in Amata City Industrial Estate in Rayong province handled by Bosch Automotive (Thailand) Co.
It started the production plant in April for its new business unit, Bosch Rexroth, tailor-made solutions for factory machines. The plant is at Amata Nakorn Industrial Estate in Chon Buri province.
Bosch has close to 900 employees in seven locations throughout Thailand. The company's workforce increased in tandem with business growth of close to 7%.
"Thailand remains one of the top revenue generators for Bosch in Southeast Asia, contributing over 30% of the region's sales," said Mr Vandlik.
Bosch closed fiscal 2012 with sales of 29.4 billion baht (702 million euros) in Southeast Asia, almost a 30% increase.
Bosch Group had global sales of 52.5 billion euros, up 1.9% from a year earlier.
About the author
- Writer: Piyachart Maikaew
Position: Business Reporter