Thailand’s overall domestic car sales are expected at 800,000 units for 2017, rise of 4.06 percent from 2016, Toyota Motor Corp’s Thai unit stated on Tuesday.
Toyota, which controls about a third of the Thai market, anticipates its own 2017 auto sales in the Southeast Asian country at 265,000 automobiles, up 8.1 percent from 2016, it stated at a news conference.
Kyoichi Tanada, president of the Toyota Thai unit, said domestic automobile sales would be assisted by new models, enhanced private investment and the end of a five-year restriction on people selling vehicles bought under a federal government subsidy scheme.
Thailand is a local production and export hub for the world’s leading automakers, and the sector accounts for around 10 percent of the country’s gross domestic product.
