Thailand's auto sale expected to reach 900,000 units in 2018

BANGKOK, January 17 (TNA) - Toyota Motor Corporation says it is likely that Thailand's auto sale should total 900,000 units in 2018, a 3.4 per cent year-on-year increase, despite the appreciation of the Thai baht. Toyota Motor Corporation Executive Michinobu Sugata, who is also President of Toyota Motor Thailand Co., Ltd, made the projection on January 16, noting that the growing Thai auto sale has been witnessed since 2017, when the country's overall auto sales rebounded for the first time in four years to more than 870,000 units, thanks to the expanding Thai economy by 3.9 per cent year-on-year in 2017 boosted mainly by the government's economic stimulus measures and mega-infrastructure investment projects. Sugata stressed that Thailand's total auto sale should reach 900,000 units this year, cushioned by more consumers' confidence in the recovering Thai economy and the introduction of new auto models, especially hybrid sedans as electric cars need more times to address remaining restrictions on power sources and battery charging stations. Sugata estimated that overall sales of Toyota automobiles alone in 2018 should reach 300,000 units, an increase from more than 240,000 units in 2017. Meanwhile, Chatchai Taveesakulvadchara, Vice President of Toyota Motor Thailand Co., Ltd, told journalists that the appreciation of the Thai baht has not much affected the country's auto market but has affected his company's revenues and attempts to ease the negative impact. (TNA)