Toyota Motor Sets 2022 Sales Target at 284,000 Vehicles

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Toyota Motor has set its sales target at 284,000 units for 2022, an increase of 18.5% from the previous year. Market share is aimed to reach 33%, up 1.4pp compared to 2021. Sales are expected to reach 85% of pre-corona 2019 in 2022. To achieve its goal, Toyota is proceeding with initiatives related to electric vehicles, reiterating the policy of localizing electrification.

Toyota Motor: Recent Business Developments in Thailand

2022 Target (Announced by Toyota Motor Thailand in January 2022)

・Sales target: 284,000 units, up 18.5% from the previous year. - Market share is aimed to go up 1.4pp to 33.0%. The breakdown of the sales target by vehicle type is 81,000 passenger vehicles and 203,000 commercial vehicles. The Thai market is forecast to increase 13.3% to 860,000 units. Although the impact of the pandemic will continue, the market is expected to pick up as the parts shortage is resolved and the economy recovers. - In 2021, sales decreased 1.9% to 239,723 units and market share increased 0.8pp to 31.6%. - At the beginning of the year, the market scale was forecast to reach 280,000-300,000 units in 2021, but in July it was revised downward to 260,000 units (market share 32.5%).

Suspension of production due to the new coronavirus infection

・At three plants production was suspended from the end of July 2021. - Parts procurement was hampered by the outbreak of the virus at supplier plants. - The Samrong and Ban Pho plants resumed production on August 9, and the Gateway plant relaunched operation on August 26.

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