Toyota Motor Thailand Revises Thailand Car Sales Projection and Reaffirmed Thailand as a Key Regional Operation Hub
July 26 2016 - 3:21AM
JCN Newswire (English)
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."
About Toyota
Supported by people around the world, Toyota Motor Corporation
(TSE:7203; NYSE:TM), has endeavored since its establishment in 1937
to serve society by creating better products. As of the end of
December 2013, Toyota conducts its business worldwide with 52
overseas manufacturing companies in 27 countries and regions.
Toyota's vehicles are sold in more than 170 countries and regions.
For more information, please visit www.toyota-global.com.
Source: Toyota
Contact:
Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Tel: +81-3-3817-9926
Copyright 2016 JCN Newswire . All rights reserved.
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