Toyota Motor Thailand Revises Thailand Car Sales Projection and Reaffirmed Thailand as a Key Regional Operation Hub

Jul 26, 2016 16:51 JST

Source: Toyota Motor Corporation

BANGKOK, Jul 26, 2016 - (JCN Newswire) - Toyota Motor Thailand (TMT) has revised its sales forecast for Thailand, while reaffirming Thailand as one of its key production hubs for the Asian region.

TMT also highlighted that Siam Toyota Manufacturing (STM), its engine production plant in Thailand, had topped 10 million units in engine production in May 2016. STM is the second Toyota engine plant outside of Japan to hit a cumulative production volume of 10 million units.

"Due to the economic slowdown coupled with an unstable global economic outlook, auto sales in Thailand fell," said Kyoichi Tanada, President of Toyota Motor Thailand and Managing Officer of Toyota Motor Corporation.

Overall sales in the Thai market for the first half of the year amounted to 367,481 units, a year-on-year decrease of 0.4%. Over the same period, Toyota sales decreased by 11.4% to 109,078 units.

President Tanada commented on the second half of the year that, the outlook of auto sales in Thailand for 2016 is positive in some aspects. For instance, Toyota expects positive impacts being derived from two main factors-the continued spending by the government to stimulate investments to the private sector, and new vehicle entries introduced by various carmakers. However, the continued economic slowdown, limited purchasing power and an unstable global economic outlook means that more time is needed before we are able to witness a recovery in the auto market.

Toyota's projection for the overall Thai market in 2016 has been revised to 740,000 units, representing a 7.5% year-on-year decrease. Toyota expects to sell 240,000 units in Thailand in 2016.

President Tanada also expressed his confidence in Thailand's potential that, "Even though this year is turning out to be another tough year, I, on behalf of Toyota, would like to reaffirm that Toyota will stand by Thailand with continued confidence in the readiness and capabilities of our Thai personnel. Toyota will continue its contributions to bring the automotive industry to a higher level, so that Thailand will grow and achieve greater advance in a sustainable manner."

Contact:

Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Tel: +81-3-3817-9926

Source: Toyota Motor Corporation
Sectors: Automotive

Latest Release

Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST

Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST

Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST

Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST

All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST

Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST

Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST

Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST

Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST

New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST

TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST

Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST

MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST

Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST

DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST

Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST

Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST

Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST

DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST

Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
Apr 09, 2024 15:04 JST

More Latest Release >>

Latest Release

Related Release