Thailand's auto output doubled to 620,116 vehicles in the first five months of 2010, the Thai Automotive Club trade group said May 17. Carmakers restarted idled production lines as global demand recovered from a recession, while Thailand's economic growth and low borrowing costs boosted demand at home.

Automakers may produce a record 1.6 million vehicles in the country this year, according to Kasikorn Research. Thailand, with a population of 67 million, may be Southeast Asia's biggest car market this year, with sales rising to 630,000 vehicles from about 550,000 in 2009, according to Westlake Village, California-based research company JD Power & Associates.

Japanese carmakers are shifting some production to Thailand from their domestic plants as the yen gains against the dollar and euro, making exports from Japan less profitable. The yen has strengthened 5.8 percent against the dollar so far this year.

David Fuller's view With at least one noted pundit forecasting a decline in the Dow to well beneath 1000 (see yesterday's Comment of the Day), many investors in the West feel cautious, to put it mildly. However if we can raise our eyes from morbid navel gazing, there are some very attractive growth stories out there. (See Jackson Wong's report: Running With Global Leaders 2010, posted on 30th June.)