The sales slowdown has hit the automotive segment in Thailand as well with a profit sale decline of 9.5% with 1.3 million units this year. The Thai subsidiary of Toyota Motor Corporation announced that there is a 16% reduction in sales.  The sales during the initial six months of 2013 were 740,795 vehicles according to the president of Thai segment of Toyota.

The Japanese firm announced that the profit sale reduction was expected and the percentage of sale fall is identical to the predicted amount with 16%. Last year, the turnover of events was in the opposite direction, the company noted an increase of 80%. The government also granted subsidy’s to customers.

Kyoichi Tanada, a top Toyota Motor Corp representative announced that the decline was predicted. In a statement to the press Tanada stated that the company set an amazing record of 740,795 cars in the country during the first six months of this year, which resulted in impressive year on year increase of 22%. There were reports earlier that the company estimated a growth during the next six months of the year.
The Thai government initiated a scheme called first car buyer, with attractive cash discounts of Bt 100,000 and this led to incredible profits for auto firms in the country. In 2012 the vehicle sale output was marvelously high at 1.4 million. In May, the sales were a different story with declines and according to Toyota the same is anticipated for the remaining portions of 2013. The company is positive about the profit sale figures in the near future, Tanada stated that even with the decline this year compared to last year, the economy in Thailand is not on a downfall, and the company has the resources to release 100,000 cars on a monthly basis during the latter six months of this year.

The year 2015 will observe production and market units form one structure formed countries under Association of Southeast Asian nations (ASEAN) which includes Vietnam, Philippines, Thailand, and Indonesia. The strong associated of eminent car economies in Asia will result in increased sale turnover in Thai segment of Toyota.

The year 2016 will witness herds of vehicle buyers, since the carbon dioxide tax benefit will come to light. The Vice President of Toyota, Suparat Sirisuwannangkura, announced that lower emission levels can be achieved with petrol passenger models with a limit of 150g/l, the marginal limit for lower emissions of diesel pickups is an intricate task.

In the year 2016, the cost of pickups in truck segment will increase because of increased excise taxes compared to the present three percent, and the year 2015 will note an increased buying and booking figures. The company aims to release 450,000 cars in the country in 2013, with projected export figures being 438,000 in international segment. The export of original equipment components and automobiles are estimated to hit Bt 251 billion in 2013. Toyota is banking on 2013 Vios for attractive profit figures. This would be the company’s 1st passenger vehicle in export segment.

Toyota is a dominant figure in India as well, and let’s hope the sales in India are attractive in the near future.

Tagged: Toyota Thailand