Toyota Motor Thailand Announces its Annual Sales and Forecast for Thailand

Bangkok, Thailand, January 31, 2017―Toyota Motor Thailand (TMT) officially announces its sales result for CY 2016 and forecast for CY 2017 at the company's Annual Press Conference. TMT has stated that CY 2016 was one of the toughest years for the automotive industry in Thailand. Despite the Thai government's support to help stimulate economic growth, factors such as the decision to restructure excise taxes placed on new cars late last year had a negative impact on consumer's purchasing power.

Market outlook for sales of the Thai automotive industry is positive, due to the end of the period of the first-car scheme, expectations of increase in government expenditure, as well as the introduction of a wide-range of new products by many automakers. Therefore, an overall sales level of 800,000 units, representing a 4.1% rise is expected.

With Toyota celebrating 55 years of business operations in Thailand, TMT President Kyoichi Tanada affirmed that Toyota will strive to continue to drive happiness for the Thai society, by offering various new products to meet the need of our customers.

Additionally, we will continue to support sustainable social contribution activities in Thailand, as well as to increase the capacity and capability of research and development that is line with the needs of the global market. Toyota is also aiming to help raise the standards of Thailand's automotive industry in order to aid its growth and development in a sustainable manner.