Chevrolet Sales Thailand, a local distribution arm of US-based General Motors (GM), is confident of its sales prospects for 2018, expecting growth in line with the country's automotive industry.
"We expect to be back on track as a key player in the Thai market, with sales volume of over 20,000 cars sold this year," said Piyanuch Chaturaphat, general director for sales and marketing.
She said 2018 holds potential for the Thai car market, predicting roughly 900,000 overall units sold.
"In the big picture, political and economic sentiment are gradually increasing, while the car market is gaining momentum with the expiry of the five-year ownership period for the first-time car buyer scheme, which should stimulate many buyers to replace their cars," Ms Piyanuch said.
In the first quarter of 2018, Chevrolet sold 4,891 units locally, up 10.4% year-on-year, driven by strong sales of the Colorado pickup.
Ms Piyanuch said Chevrolet wants a stronger customer base in the Thai market with attractive models. The Colorado has recently added genuine accessories for the model.
Pickup drivers normally pay 30,000 baht per truck to outfit vehicles with accessories, and Chevrolet plans to provide these products to meet high-end customers' demands, Ms Piyanuch said.
"We believe that Chevrolet can rebuild its customer base to be more competitive in the local pickup segment and resume our market presence with higher customer confidence," she said. "Chevrolet has kept a low profile for the past several years, but we are making a new strategy to strengthen our 87 local dealers and beef up local sales, expecting to disclose the plan around June."
Chevrolet's business in Thailand reached an all-time high for sales in 2012 of 75,461 units sold, thanks to the Yingluck Shinawatra government's tax-rebate programme for first-time car buyers. Sales dropped to 56,389 units in 2013.
In 2014, Chevrolet saw more pressure from the contraction of the car market with a sharp drop to 25,700 units sold. That same year, GM decided to join the government's eco-car scheme.
In 2015, GM withdrew itself from the eco-car scheme after being granted Board of Investment privileges after only four months, announcing that it would focus on pickup trucks and sport utility vehicles (SUVs) locally and phase out production of passenger cars. Full-year local sales in 2015 slid to 17,456 units.
In 2016, Chevrolet posted 14,931 units sold, mainly from the Colorado models, but 2017 witnessed sales growth for the first time in five years with 18,772 units sold, up 25.7%, good for a market share of 2.2% to rank ninth in Thailand.
The Colorado pickup was still a core competency for Chevrolet in 2017 with 16,950 units sold, up 32%, while the Trailblazer SUV sold 1,150 units, slipping 3%.
Across Southeast Asia, GM's overall sales volume grew by 14.8% to 40,866 vehicles in 2017, led by healthy business in Thailand, Vietnam and Indonesia.
GM operates two plants at Rayong's Eastern Seaboard Industrial Estate with a combined investment of US$1.4 billion: one vehicle assembly plant with annual production capacity of 180,000 units and a powertrain plant with annual capacity of 120,000 units.
The vehicle plant makes four Chevrolet models: the Colorado pickup, the Trailblazer mid-size SUV, the Captiva crossover SUV and the Cruze passenger car, but the Captiva and Cruze will soon be phased out of production in line with the parent firm's strategy in Thailand.