Toyota Reaffirms Commitment to Thailand

Bangkok, Thailand, July 28, 2015—Toyota has revised its 2015 sales forecast for Thailand, while making it clear that there will be no change to the status of the country as a key hub for production, engineering, and exports.

Kyoichi Tanada, president of Toyota Motor Thailand, gave an overview of the current situation during the company’s Mid-Year Press Conference held today at the Okura Prestige Hotel in Bangkok: “Compared to the first half of 2014, the market here has seen significantly lower demand exacerbated by concerns over global economic instability. Household spending was particularly weak over this period.”

Overall sales in the Thai market for the first half of the year amounted to 369,109 units, a year-on-year decrease of 16.3%. Over the period, Toyota sales decreased by 24.9% to 123,125 units.

CY2015 First Half Toyota Sales Results in Thailand

Regarding the second half of the year, Mr. Tanada stated: “We expect the condition of the domestic market to improve, thanks to positive factors, including government investment to help stimulate the economy. In addition, we will see new product launches by several carmakers as well as efforts to increase exports. However, we expect the slump from the first half to take its toll, and this will delay the market’s recovery.”

Toyota’s projection for the overall Thai market in 2015 has been revised down to 800,000 units, representing a 9.3% year-on-year decrease. Toyota expects to sell 280,000 units in Thailand in 2015, a decrease of 14.4%.

CY2015 Toyota Sales Forecast for Thailand

Mr. Tanada expressed his confidence in Thailand’s overall potential: “We believe in Thailand and are ready to keep investing in this country, despite the current weakness in the domestic market. We will enhance the transfer of knowledge and technology to strengthen the local auto industry and to reinforce the country’s position as one of the key operational centers in this region. Toyota Motor Asia Pacific Engineering and Manufacturing has a lot to contribute in this regard. Thai people have played a vital role in developing and elevating our regional operations in the Asia Pacific in the fields of research and development, production engineering, and development of competitiveness in suppliers.”

Mr. Tanada added that Toyota will seek to maximize the value of Thailand as an export hub, which will help to improve the condition of the local economy. Toyota Motor Thailand will continue to seek further enhancement of its competitiveness in a constant drive for the ever-better.