Next year's domestic automobile market will likely be less robust, lacking the fillip given by the government's first-time car buyer tax rebates, says Toyota Motor Thailand.
Tanada: Local sales ‘very brisk’
TMT president Kyoichi Tanada said local vehicle sales have been "very brisk" this year, with growth of 51.1% to 1.2 million units predicted.
Wichien Emprasertsuk, a senior vice-president, said this year's tax rebate has prompted carmakers to step up production in order to make delivery by year-end.
The floods late last year shifted much demand to this year, especially after production was disrupted.
"We're still unsure about continuation of the tax rebate policy or extension of the car delivery period as has been proposed," said Mr Wichien.
He said if the tax rebate policy is not continued, then next year's car market growth will be only 10%, possibly a little more but still far short of this year's level.
Mr Tanada said first-half domestic vehicle sales overall achieved an industry record of 606,523 units sold, up by 40.4% year-on-year.
Sales of commercial vehicle increased by 46.3% in the period, while passenger care sales were up by 33.1%.
Toyota sold 241,245 vehicles in the first half, up by 54.3% year-on-year, for a 39.8% market share.
Sales of TMT's commercial vehicles increased by 70.7% year-on-year for a 38.9% market share, while those of passenger cars rose by 37.4% for a 41% share.
Mr Tanada said 204,554 Thai-built Toyotas were exported in the first half, up by 50.3% year-on-year, valued at 92.1 billion baht.
Exports of assembly kits for the period totalled 31.3 billion baht.
TMT forecasts sales of 480,000 vehicles worth 177 billion baht this year, up by 65.5% from last year in terms of volume.
Of these, 182,100 units will be passenger cars and 297,900 units commercial vehicles.
As well, exports of Thai-built Toyotas are projected to grow by 61% year-on-year to 405,000 units, while those of assembly kits will be valued at 65 billion baht.
Mr Tanada said Toyota is expected to produce 865,000 vehicles this year, a record for the Japanese carmaker since beginning production here.
Toyota has three manufacturing local factories _ one in Samut Prakan's Phra Pradaeng district and one each in Chachoengsao's Gateway City Industrial Estate and Ban Pho district.