AUTO INDUSTRY NEWS

Toyota celebrates 55 years in Thailand, eyes growth in 2017

Toyota celebrates 55 years in Thailand, eyes growth in 2017 image

Eric Tipan / Toyota Thailand press | August 15, 2017 08:24

Toyota Motor Thailand sales increase by 3.1% in first half of 2017

Toyota celebrates a major milestone by hitting the 55th year of automotive operations in Thailand and with that reiterates it pledge to help the country’s economy by leading the way in the development of its automotive industry.

Michinobu Sugata, Managing Officer of Toyota Motor Corporation (TMC) and president of Toyota Motor Thailand Company Limited (TMT) underscored the possibility of sales for the entire auto industry to reach an 8-percent increase from 2016.

TMT’s sales for the first half of the year reached 112,488 units which represents a 3.1-percent year-on-year increase.

Sugata credited the sales growth of TMT and the entire Thai auto industry including its recovery from the slump in 2016 to the government’s support by creating measures to ‘stimulate national economic growth’.

"Once again, we would like to express our gratitude to the Thai government for its strong support of the automotive industry. In line with the government's endeavors, we also aim to continue contributing to Thai society and responding to the government's 'Thailand 4.0' and Eastern Economic Corridor policies. In the interest of human resource development for upcoming generations of workers in the industry, Toyota will continue to support the professional development of Thai engineers in the area of R&D through Toyota-Daihatsu Engineering & Manufacturing (focusing on compact car development for emerging markets) and will expand industry-academic partnerships," said Sugata.

Toyota is expecting their 2017 sales volume to reach 265,000 units this year, repesenting an 8% gain from the previous year; with Passenger Car sales at 110,000 units, while Commercial Vehicles set at 155,000 units.

The entire Thai automotive industry is expected to potentially reach 830,000 units in 2017; gaining 8% from 2016.