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Toyota Strengthens Automotive Production Amidst Challenging Year

Toyota Strengthens Automotive Production Amidst Challenging Year

Toyota Strengthens Automotive Production Amidst Challenging Year

Thailand’s automotive market reached 1,007,552 units in 2019 according to Toyota Motor Thailand, which represents a three percent decrease compared to the previous year. This is the fourth time in the history of the Thai automotive market to hit over one million-unit level even though the market showed a sharp decline in the latter half of last year, especially from September.

2019 Market Result

2019 Sales Difference
Compared to 2018
Total Sales 1,007,552 units -3.3%
Passenger Cars 398,386 units -0.3%
Commercial Vehicles 609,166 units -5.1%
1-ton Pickups (Including PPV) 492,129 units -3.8%
Pure Pickups 431,677 units -3.4%

 

However, 2020 will be another challenging year for Thailand’s automotive industry. Mr. Michinobu Sugata, President of Toyota Motor Thailand projected, “We are facing with the headwinds, including the decreasing level of consumer confidence and private consumption, tightening car-loan scheme, and continued uncertainty of the global economic trends. Taking these unfavourable factors into consideration, we expect that the total market will be 940,000 units, representing a seven percent decrease from last year.”

 

2020 Domestic Sales Forecast

2020 Sales
Projection
Difference
Compared to 2019
Total Sales 940,000 units -6.7%
Passenger Cars 358,500 units -10.0%
Commercial Vehicles 581,500 units -4.5%

 

In 2019, Toyota was able to overcome the market negative growth and achieve a six percent increase in the domestic sales (accounting for 332,380 units), owing to the positive feedbacks from valued customers and the launch of their all-new model passenger car and commercial vehicles.

For 2020, Toyota will be focused on strengthening their product line-up with the upcoming models and product improvements to respond to various customer needs, while also enhancing the ownership experience of their customers from the very first day of their purchase to the end of the product life cycle.

“As the automotive industry has entered a once-in-a-century period of profound transformation, Toyota is now aiming at transforming from a car manufacturing company to a “Mobility Company” which implies a proactive engagement in all kind of services related to mobility to people in the society,” Mr. Sugata commented.

The company is committed to the creation of an Ever-Better Society through a wide variety of environment-friendly initiatives such as hybrid EV introduction in various models and providing good fuel efficiency as well as lower CO2 emissions. Moreover, to create a sustainable green society, Toyota aims to expand and transfer environment-friendly knowledge to local communities through two learning centers—“Toyota Biotope” and “Toyota Green Town Ayutthaya”.

Furthermore, to foster a sustainable economy, Toyota has helped improved businesses and develop the local economy through transferring business knowhows and practices to SMEs, under “Toyota Social Innovation” project.

“All in all, we are deeply proud to be a part of contributing to sustainable growth alongside Thai society,” Mr. Sugata concluded.

 

Check these articles out:

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Toyota To Invest Two Billion In Indonesia For Electric Vehicles

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Thailand To Lead In EV Battery Manufacturing And Assembly

4 Other Automakers Join Toyota’s Electric Vehicle Project

 

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