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Toyota Motor’s Business Developments in Thailand

In 2021, Toyota Motor’s automobile sales in Thailand decreased 1.9% compared to the previous year to 239,723 units. Meanwhile Toyota’s market share increased 0.8 pp to 31.6%. For 2022, Toyota has set an ambitious sales target of 284,000 units, up 18.5% from 2021. The automaker also aims to raise its market share by 1.4 pp to pre- corona level 2019’s 33.0%. In 2021, model launches were mainly limited to the introduction of the GR Sport grade and the Modellista brand which offers body kits and accessories for existing models. Meanwhile, Toyota further promoted its goal of localizing electrification in Thailand through the introduction of new BEV and PHEV models.

Toyota Motor: Recent Business Developments in Thailand

Objectives in 2022

・In January 2022, Toyota Motor Thailand (TMT) announced its 2022 sales target of 284,000 units, up 18.5% from the previous year. - Market share is expected to increase 1.4 pp to 33.0%. Out of the 284,000 units, passenger vehicles is expected to account for 81,000 units and commercial vehicles for 203,000 units. The Thai market is predicted to expand 13.3% to 860,000 units in 2022. The impact of the corona virus will continue, but the market is expected to pick up as the shortage of parts is resolved and the economy revives. - In 2021, sales decreased 1.9% to 239,723 units while Toyota’s market share increased 0.8 pp to 31.6%. - At the beginning of the year, sales were forecast to be 280,000-300,000 units, but in July it was revised downward to 260,000 units (market share 32.5%). Table: Sales target for 2022 ・Production target for 2022: 647,000 units, up 25.9% from 2021. ・Export target for 2022: 371,000 units, 27.2% from 2021.

Production suspension

・From the end of July 2021, production at three plants was suspended. - The resurgence of the new coronavirus at nearby supplier factories resulted in stagnant parts procurement. - The Samrong and Ban Pho Plants resumed operation on August 9, followed by the Gateway Plant on August 26.

Product launches

・In November 2021, the facelifted Camry was launched. - The model is powered by a 2.5L gasoline engine or HEV system. Sales of the 2.0L version were terminated. - At the time of release, the model was sold for 14,750,000-18,090,000 THB. ・In February 2022, the Fortuner Commander, a special specification model limited to 1,000 units, was added to the Fortuner’s lineup. - It is 4WD and combines a 2.4L turbocharged diesel engine with a six-speed AT. n addition to the bumper decoration, two-tone color and 20-inch wheels, it is equipped with safety features such as a panoramic-view monitor. - At the time of release, the model was sold for 15,050,000 THB. ・In February 2022, the Veloz was launched. - The model is only available with CVT. It is imported from Indonesia in CBU form. - At the time of release, the model was sold for 795,000-875,000 THB.
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