Skip to main content

Advertisement

Advertisement

Toyota's Thai unit sees its 2022 car sales up 18.5per cent

FILE PHOTO: The Toyota emblem is seen on the steering wheel of a vehicle during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva

FILE PHOTO: The Toyota emblem is seen on the steering wheel of a vehicle during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva

BANGKOK : The Thai unit of Toyota Motor Corp expects its car sales in the Southeast Asian country to rise 18.5per cent to 284,000 vehicles this year, the company said on Thursday.

Toyota, which commands about a third of the Thai vehicle market, recorded sales of 239,723 in the country, down 1.9per cent in 2021, President of Toyota Motor Thailand Noriaki Yamashita said in a statement.

The company is targetting car exports of 371,000 vehicles this year, up 27per cent from 292,000 cars shipped out last year.

"COVID-19 may continue to impact on the Thai economy, but we anticipate that the Thai auto industry would gradually return to normal, with resuming operations of all economic sectors, and also people have learned how to cohabit with the COVID-19 outbreak safely", Yamashita said.

There will also be a gradual recovery in a shortage of parts supplies, he added.

Thailand is a regional vehicle production and export base for the world's top carmakers, including Toyota, Honda and Mitsubishi.

The industry accounts for about 10per cent of Thailand's gross domestic product and its manufacturing jobs.

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)

Read more of the latest in

Advertisement

Popular

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.