Mr. Noriaki Yamashita, President of Toyota Motor Thailand, has announced the company’s business performance during the first half of 2022, along with Thai automotive market projection in 2022, on 25 July 2022.
Mr. Yamashita said, “Thailand's automotive industry in the first half of the year is still being significantly affected by the domestic economy's gradual recovery amidst a prolonging semiconductor shortage that has a direct impact on production volume and surging cost of car manufacturing for both domestic and export sales. Furthermore, inflationary pressures that continue to rise, as well as the direction of this year’s interest rates are important factors contributing to the slow recovery of consumer purchasing power. These elements, have a critical impact on the overall business operations as well as consumer confidence in the Thai economy as a whole.
However, there are indeed some positive signs, such as the government's relaxation of lockdown measures and the implementation of measures to boost the domestic economy and tourism. More notably, vaccination rates in Thailand and around the world are clearly increasing, allowing people to live, work, and resume their normal lifestyles almost in a manner similar to the pre-pandemic period. All these factors contribute to the country's economic situation gradually returning to normal, which reflects on the car market as well. This can be seen in the sharp increase in car sales in the 43rd Bangkok International Motor Show, as well as a great deal of aggressive promotional campaigns launched by several automakers in a bid to incentivize potential consumers. Essentially, all of these major elements contributed to the automotive market's overall recovery. As a result, total market sales in the first half of the year are 427,303 units, representing a 14.5% increase over the same period last year.”
Market Result in January - June 2022 2022 Sales Difference compared to 2021
Total Sales 427,303 units +14.5 %
Passenger Cars 135,900 units +12.9 %
Commercial Vehicles 291,403 units +15.3 %
1-ton Pickups (Including PPV) 227,842 units +15.7 %
Pure Pickups 198,256 units +17.3 %
“According to Toyota's performance in the first half of 2022, the overall sales increased by 21.2%, or 142,032 units, making the company a No.1 leader in the total market share, or 33.2% of the total car sales. The achievement is due in part to our ability to resume production and deliver more vehicles to customers following the easing of the lockdown measures, coupled with the increasing consumer demand for passenger cars, and the successful introduction of the new Toyota Veloz during the beginning of the year that has contributed over 1,000 sales volume per month. Consequently, this enables Toyota to occupy the top market share in the eco car the mid-size passenger car markets.”
Toyota Sales Performance in January - June 2022 2022 Sales Difference compared to 2021 Market share
Total Sales 142,032 units +21.2 % 33.2 %
Passenger Cars 38,894 units +30.9 % 28.6 %
Commercial Vehicles 103,138 units +17.9 % 35.4 %
1-ton Pickups (Including PPV) 89,232 units +20.4 % 39.2 %
Pure Pickups 75,766 units +22.5 % 38.2 %
In light of the automotive industry outlook of the entire year of 2022, Mr. Yamashita projected, “The government's relaxation measures as well as economic stimulus cause the economic activities to shift into an increasingly positive direction, which will benefit the automotive industry outlook this year. As a result, there is great optimism that the economy will recover in a better way in the second half of this year. Therefore, we firmly anticipate that the number of vehicles sold in 2022 will be 880,000 units, up 16% from the year before.”
2022 Domestic Sales Forecast 2022 Sales Projection Difference compared to 2021
Total Sales 880,000 units +16 %
Passenger Cars 290,500 units +15 %
Commercial Vehicles 589,500 units +16 %
Mr. Yamashita added, “As for Toyota, our current sales target in 2022 is 290,000 units, or 21% increase from last year, accounting for 33% market share. We are confident in our plan to launch new models in the second half of the year, along with a variety of marketing initiatives and services designed to boost customer engagement and bring us closer to our customers. Additionally, the strength of our nationwide Toyota dealer network will help us win our customers' trust and support so that we can successfully accomplish our ultimate goal.”
2022 Toyota Car Sales Forecast 2022 Sales Forecast Difference compared to 2021 Market share
Total Sales 290,000 units +21 % 33.0 %
Passenger Cars 82,000 units +31 % 28.2 %
Commercial Vehicles 208,000 units +17 % 35.3 %
1-ton Pickups (Including PPV) 179,700 units +19 % 38.8 %
Pure Pickups 152,200 units +18 % 38.5 %
In terms of export, Toyota’s CBU export volume for the first half of 2022 was 179,730 units, or 24.4% increase from last year. Our total production volume for domestic sales and export for the first half of 2022 is 308,734 units, or 19.5% increase from last year.
Toyota CBU Export and Production Volume in January - June 2022 2022 Performance Difference compared to 2021
Export Volume 179,730 units +24.4%
Total Production Volume for Domestic Sales and Export 308,734 units +19.5%
As for the forecast of Toyota CBU export for this entire year, our current target is at 380,000 units, or 29.8 % increase from last year due to the optimistic signs of economic recovery in the trading partners’ markets as seen in the increasing demand of overseas customers. As a result, Toyota's production volume in 2022 is expected to exceed our prior expectations. Our projection now stands at 659,400 units, up 28.3% from the previous year, and meets both domestic and export sales targets. Target of Toyota CBU Export and Production Volume in 2022 2022 Target Difference compared to 2021
Export Volume 380,000 units +29.8 %
Total Production Volume for Domestic Sales and Export 659,400 units +28.3 %
Mr. Yamashita also added, “As Toyota announced at the beginning of the year that we are marking the 60th Anniversary of Toyota's business operations in Thailand. We remain firmly committed to delivering happiness to Thai people and growing alongside Thai society with our new vision of being ‘A Mobility Enabler that responds to people happiness and social sustainability’. In the first half of the year, we implemented our new mission in a variety of ways to bring happiness to Thai people.
In terms of products and services for customers, we have debuted TOYOTA ALIVE, which is the center of happiness experience that offers a comprehensive range of Toyota's leading-edge technologies and services. It is also a center of activities in various forms that provides enriching experiences and closer relationships with customers. Aside from that, we aim to join forces with various partners to introduce a wide range of services to our valued customers. This includes the utilization of Connected Technology through digital platforms in order to enhance “Mobility as a Service” (MaaS) for customers and provide the refined services that give them exceeding satisfaction in virtually all aspects, while also ensuring utmost safety, excellent value for money, and absolute convenience. These efforts have been made in the hope of achieving the ultimate goal of seamlessly addressing customer needs and lifestyles.
As for our contribution to the society, Toyota has been committed to driving Thai society towards ‘Sustainable Development Era’ in a bid to uplift people’s quality of life and foster good environment, economy and society, while also committing to achieving Carbon Neutrality which is the key mission of the global Toyota. To achieve this mission, we actively engage in various activities, such as the development of Decarbonized Sustainable City in Pattaya, in which we have provided a full range of environmentally friendly vehicles for services to enhance urban transportation and diverse usage in Pattaya in a bid to meet the diverse travel needs of local residents and tourists. We also intend to expand our project to its full scope by the end of this year. Besides, we aim to build on the success of Toyota Social Innovation project by launching the third Toyota Social Innovation Yokoten Center in Chiang Rai province so as to transfer knowledge and experience in continuous business improvement to the local enterprises in northern communities. Additionally, Toyota has recently collaborated with our key partners to execute the project "Personnel Skill Development in 12 Targeted Industries" with an aim to improve the knowledge, skills, and potential for personnel in the Eastern Special Development Zone (EEC) in order to prepare for the new era of automotive industry. Last but not least, in an effort to minimize traffic accidents, we continue to enhance road safety under "Toyota White Road" project by improving 60 high-risk spots across Thailand.
Domestic Car Sales of June 2022
1.) Total Car Sales: 67,952 units, increase by 4.6%
Number 1 Toyota 21,026 units 5.9% decrease 30.9% market share
Number 2 Isuzu 20,146 units 42.9% increase 29.6% market share
Number 3 Mitsubishi 4,815 units 22.1% increase 7.1% market share
2.) Passenger Car Sales: 19,598 units, decrease by 13% Number 1 Toyota 5,884 units 8.7% increase 30.0% market share
Number 2 Honda 2,518 units 60.8% decrease 12.8% market share
Number 3 Mitsubishi 2,068 units 34.3% decrease 10.6% market share
3.) Commercial Vehicle Sales: 48,354 units, increase by 13.9% Number 1 Isuzu 20,146 units 42.9% increase 41.7% market share
Number 2 Toyota 15,142 units 10.5% decrease 31.3% market share
Number 3 Ford 2,756 units 1.3% increase 5.7% market share
4.) One-ton Pickups (Pure Pickup and PPV): 37,619 units, increase by 13.4% Number 1 Isuzu 18,640 units 48.4% increase 49.5% market share
Number 2 Toyota 12,629 units 12.7% decrease 33.6% market share
Number 3 Ford 2,756 units 1.3% increase 7.3% market share
PPV sales in 1-ton pickup market: 4,186 units
Isuzu 1,564 units – Toyota 1,454 units – Mitsubishi 671 units – Ford 396 units – Nissan 101 units
5.) Pure Pickup Sales: 33,433 units, increase by 13.9%
Number 1 Isuzu 17,076 units 49.5% increase 51.1% market share
Number 2 Toyota 11,175 units 12.0% decrease 33.4% market share
Number 3 Ford 2,360 units 1.3% increase 7.1% market share
Domestic Car Sales of January – June 2022
1.) Total Car Sales: 427,303 units, increase by 14.5% Number 1 Toyota 142,032 units 21.2% increase 33.2% market share
Number 2 Isuzu 109,889 units 18.0% increase 25.7% market share
Number 3 Honda 40,161 units 6.0% decrease 9.4% market share
2.) Passenger Car Sales: 135,900 units, increase by 12.9% Number 1 Toyota 38,894 units 30.9% increase 28.6% market share
Number 2 Honda 29,574 units 19.2% decrease 21.8% market share
Number 3 Mazda 12,111 units 11.2% increase 8.9% market share
3.) Commercial Vehicle Sales: 291,403 units, increase by 15.3% Number 1 Isuzu 109,889 units 18.0% increase 37.7% market share
Number 2 Toyota 103,138 units 17.9% increase 35.4% market share
Number 3 Mitsubishi 16,292 units 11.8% increase 5.6% market share
4.) One-ton Pickup Sales (Pure Pick up and PPV): 227,842 units, increase by 15.7%
Number 1 Isuzu 101,439 units 19.3% increase 44.5% market share
Number 2 Toyota 89,232 units 20.4% increase 39.2% market share
Number 3 Mitsubishi 16,168 units 13.7% increase 7.1% market share
PPV sales in 1-ton pickup market: 29,586 units
Toyota 13,466 units – Isuzu 9,095 units – Mitsubishi 4,154 units – Ford 2,246 units – Nissan 625 units
5.) Pure Pickup Sales: 198,256 units, increase by 17.3%
Number 1 Isuzu 92,344 units 22.1% increase 46.6% market share
Number 2 Toyota 75,766 units 22.5% increase 38.2% market share
Number 3 Ford 12,655 units 8.0% decrease 6.4% market share
