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Toyota’s Thai Unit Car Sales To Up 18.5% In 2022

Toyota’s Thai Unit Sees Its 2022 Car Sales Up 18.5%

Toyota Motor Corp’s Thai branch forecasts auto sales in the Southeast Asian country to increase by 18.5 percent this year to 284,000 cars, the company said on Thursday. Toyota, which controls nearly a third of the Thai car market, sold 239,723 vehicles in 2021, down 1.9 percent from the previous year, according to Noriaki Yamashita, President of Toyota Motor Thailand. This year, the business plans to export 371,000 automobiles, up 27% over the previous year’s total of 292,000 cars.

Toyota Announced On Thursday

Toyota's Thai Unit Car Sales To Up 18.5% In 2022

“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 continued.

Thailand is a regional vehicle production and export base for the world’s top carmakers, including Toyota, Honda and Mitsubishi. The industry employs roughly ten percent of Thailand’s manufacturing workforce and accounts for about ten percent of the country’s gross domestic product. Thai domestic car sales drop 4.2% in 2021, seen higher this yearIn 2022, the FTI still forecasts car sales at 800,000 to 850,000 vehicles, or a rise of 5.4% to 12%, supported by easing of travel curbs and economic recovery.Surapong Paisitpattanapong, a spokesperson for FTI’s automotive industry division told in a briefing.

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