Toyota Thailand announces their 2022 Car Sales along with 2023 Domestic Market Projection at 900,000 Units and 2023 Toyota Sales Target at 310,000 Units

Toyota Motor Thailand Co., Ltd. announced their 2022 car sales performance along with the Thai automotive market projection in 2023 in their Toyota Annual Press Conference held on 26 January 2023.

Automotive Market Performance in 2022

The automotive industry in Thailand exhibited signs of gradually being on the process of recovering in 2022. Indeed, there were positive contributing factors from ongoing economic stimulus measures, as well as the government’s financial relaxation policy, to support the domestic economy’s recovery. Exports that begin to grow in tandem with the economic recovery of business partners were another factor supporting the turnaround of the Thai automotive industry. Additionally, the government’s easing of domestic control measures for COVID-19, along with the gradual and steady rebound of tourism following the opening of the country contribute to the country’s entire economic situation steady return to normalcy.

However, certain negative factors continue to have an impact on the recovery. For example, the global semiconductor shortage still affects manufacturing among all industries across the world. As a matter of fact, other factors relating to the overall economic situation including the international logistics issues caused by the high cost of ship transportation, the increased inflation despite the economy not yet completely having recovered, the volatility of global financial situation, and the rising prices of energy and raw materials. Obviously, these aforementioned factors have a direct impact on the cost of automobile production for both domestic and export sales as well as business operations and consumer confidence in the Thai economy. Nevertheless, it is still believed that the Thai automotive industry is currently on the path to recovery, which is also reflected in the domestic car market. Essentially, the overall domestic market volume in 2022 was 849,388 units, representing an 11.9% increase over 2021.

In terms of Toyota performance in 2022, the total sales volume was 288,809 units, up 20.5% from the previous year. Toyota retained the No.1 market share, which is equivalent to 34% of all car sales. This was partially caused by Toyota’s increased market share in passenger cars from the previous year. Customers have particularly taken to the new Veloz and Yaris ATIV since the two models have been launched to the Thai market last year, resulting in their highly successful sales performance. Plus, Toyota’s outstanding performance in 2022 was largely attributed to the company’s use of a variety of marketing strategies and attractive products line up that efficiently allowed Toyota to better reach and connect with its diverse groups of customers and target audiences.

Automotive Market Outlook for 2023

          For the 2023 automotive market outlook, it is anticipated that the automotive market will gradually return to normalcy along with the country’s overall economic recovery. In addition, the opening of the country to promote tourism contributes to increase domestic demand, while the shortage of production parts is expected to gradually ease. As a result of all these favorable aspects, the automotive sector will eventually return to normal circumstances, and it is expected that the market volume in 2023 will be 900,000 units, or 6.0% increase from last year.

As for Toyota, the sales target is set at 310,000 units, or a 7.3% increase, with 34.4% market share.

Toyota Export and Production result in 2022 

In terms of export, Toyota’s CBU export volume in 2022 was 378,454 units, or a 30% increase from 2021. Toyota’s total production volume for domestic sales and export in 2022 was 659,262 units, or a 28% increase from 2021.

Toyota Export and Production Outlook for 2023

         Regarding the forecast of Toyota CBU exports in 2023, it is expected that the demand from overseas market will increase following the economic recovery in many of the countries of Toyota Thailand’s business partners. Therefore, Toyota target is set at 405,000 units, or a 7% increase over last year. In addition, our target of total production volume in 2023 will be around 723,000 units, or an 9.7% increase over last year.   

Toyota’s future business direction in Thailand in 2023

This year, Toyota is ready to actively move forward in accordance with the direction set by Global President and CEO, Akio Toyoda, and announced in Toyota’s 60^th Anniversary Celebration hosted at the end of last year. Toyota is committed to operating business while ensuring that the company aims for the goals of achieving “Economic Development” through “Mobility for All” and “Carbon Neutrality” through the “Multi-Pathway” approach to help reduce greenhouse gas emissions, through a variety of product and service offerings along with several activities to deliver happiness and mobility for all to the Thai people and society.

In terms of products and services for customer, Toyota will develop technologies for electrified vehicles and alternative fuel vehicles in a bid to offer everyone the greenest option possible that meets their personal mobility needs, while also emphasizing marketing initiatives and sales campaigns that adhere to the iconic “Closer to Customer” concept. Besides, Toyota will collaborate with business networks to continuously provide customers with leading-edge innovations and products that will enhance their mobility experiences and services, such as incorporating connected technologies to facilitate and enhance their travels (Connected), providing mobility services through car sharing (Shared), and so on. This is in line with the CASE (Connected, Autonomous, Shared, Electrified) paradigm shift that is transforming the automotive business to a mobility business.

For society, Toyota continues to focus on driving the Thai society toward the “Era of Sustainable Development” by working in multiple areas and collaborating with partners in other industries to ultimately achieve carbon neutrality, for instance:

• Decarbonized Sustainable City in Collaboration with Pattaya City

So far, Toyota has utilized all electrified vehicles i.e. ICE, HEV, BEV, FCEV to provide service and cater to various travel needs of locals and visitors to Pattaya. Toyota has worked together with hotels and popular tourist destinations in downtown Pattaya to utilize the vehicles as car pickup locations and electric vehicle charging stations for individuals interested in enjoying the service.   In addition, this year, there are plans to expand the collaboration to support more via applications and include more locations in the Pattaya City, as well as to explore the possibility of building on the successful outcomes of last year to further develop collaborations with mass transit system service within Pattaya City with alternative energy vehicles that utilize hydrogen and fuel cells, as well as more future collaboration projects in other provinces.

• Collaborative Project with Charoen Pokphan Group (CP)

Toyota and CP will partner to research strategies to minimize emissions from transport logistics utilizing low or zero-emissions technologies, such as a fuel cell-powered trucks, while also exploring various state-of-the-art strategies for generating clean hydrogen from biomass.

• Expanding the operations of the “Sustainable Environment Communities for Carbon Neutrality” Project which reflects Toyota’s initiative to enhance the company’s contribution to the environment from the previously rolled out “Toyota Green Town” learning centers to further establishing role model communities that will raise awareness of environmental issues so that everyone can live in harmony with the nature on a sustainable basis. The first model community was founded last year in the province of Rayong. And, this year, Toyota has set a goal to extend the initiative, spanning every region of the country.
• Toyota Thailand looks forward to working with all likeminded stakeholders in Thailand to deliver for the development of the country in a sustainable manner.

Move Your World

Domestic Car Sales of December 2022

• Total Car Sales: 82,799 units, decrease by 0%

Number 1 Toyota       30,197 units    11.2% increase         36.5% market share

Number 2 Isuzu         18,216 units    3.1% decrease         22.0% market share

Number 3 Mitsubishi   8,324 units    28.0% decrease        10.1% market share

• Passenger Car Sales: 19,598 units, decrease by 6%

Number 1 Toyota       8,941 units    21.7 % increase         36.2%  market share

Number 2 Honda        5,786 units    34.0% decrease        23.4% market share

Number 3 Mitsubishi   1,824 units    26.6% decrease          7.4% market share

• Commercial Vehicle Sales: 58,101 units, decrease by 7%

Number 1 Toyota      21,256 units    7.3% increase           36.6% market share

Number 2 Isuzu         18,216 units    3.1% decrease         31.4% market share

Number 3 Ford                    5,543 units    34.6% increase         9.5% market share

• One-ton Pickups (Pure Pickup and PPV): 43,322 units, increase by 1.3%

Number 1 Toyota       18,083 units     8.1% increase         41.7% market share

Number 2 Isuzu         16,638 units     1.6% decrease        38.4% market share

Number 3 Ford             5,543 units  34.6% increase        12.8% market share

PPV sales in 1-ton pickup market: 7,831 units

Isuzu 2,769 units – Toyota 2,758 units – Ford 1,565 units – Mitsubishi 619 units – Nissan 120 units

 5.) Pure Pickup Sales: 35,491 units, decrease by 2.8%

Number 1 Toyota       15,325 units     7.4% increase         43.2% market share

Number 2 Isuzu          13,869 units     7.0% decrease        39.1% market share

Number 3 Ford            3,978 units   16.7% increase        11.2% market share

• Domestic Car Sales of January – December 2022

1.) Total Car Sales: 849,388 units, increase by 11.9%                              

Number 1 Toyota       288,809 units  20.5 % increase       34.0% market share

Number 2 Isuzu         212,491 units  15.4% increase        25.0% market share

Number 3 Honda         82,842 units  6.6% decrease         9.8% market share

2.) Passenger Car Sales: 265,069 units, increase by 5.3%                                

Number 1 Toyota        82,738 units     32.6% increase       31.2% market share

Number 2 Honda       61,665 units     19.8% decrease      23.3% market share

Number 3 Mitsubishi   21,157 units   14.6% increase        8.0% market share

3.) Commercial Vehicle Sales: 584,319 units, increase by 15.2%                    

Number 1 Isuzu         212,491 units  15.4% increase         36.4% market share

Number2Toyota       206,071 units  16.2% increase         35.3% market share

Number3 Ford         43,582 units     34.8% increase         7.5% market share

4.) One-ton Pickup Sales (Pure Pick up and PPV): 454,875 units, increase by 15.6%

Number 1 Isuzu         195,945 units  17.2% increase        43.1% market share

Number 2 Toyota       175,786 units  16.0% increase        38.6% market share

Number 3 Ford           43,582 units    34.8% increase        9.6% market share

PPV sales in 1-ton pickup market: 66,577 units

Toyota 27,685 units – Isuzu 20,520 units – Ford 9,765 units – Mitsubishi 7,405 units  –  Nissan 1,202 units  

5.) Pure Pickup Sales: 388,298 units, increase by 13.7%

Number 1 Isuzu         175,425 units 16.4% increase        45.2% market share

Number2 Toyota       148,101 units 15.1% increase        38.1% market share

Number3 Ford            33,817 units   23.9% increase        8.7% market share