The Thai unit of Toyota Motor Corp has said it expects its car sales in Thailand to rise 7.3% to 310,000 vehicles this year.
Toyota Motor Thailand said in a statement that Toyota, which commands about a third of the Thai vehicle market, recorded local sales in 2022 of 288,809 units – up 20.5%.
The company is targeting car exports of 405,000 vehicles this year, up 7.0% from 378,454 cars shipped out last year.
The firm said: “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.”
It added that the reopening of Thailand to promote tourism helps boost domestic demand, while the shortage of production parts is expected to gradually ease.
Thailand is a regional vehicle production and export base for the world’s top carmakers, including Toyota, Honda and Mitsubishi. (NNT)