Overall 980,000 cars are expected to be sold in the market in 2018. (Photo: bangkokpost.com)

Bangkok (VNA) – Toyota Motor Corp on July 25 forecast that overall vehicle sales in Thailand will rise 12 percent against the previous year, much higher than the 3 percent estimated in January.

Toyota Motor Thailand President Michinoby Sugata said at a press conference that besides favourable economic conditions, new models and various marketing activities introduced by carmakers have played a big role in stimulating the Thai auto market.

The Japanese automaker is controlling one third of the Thai vehicle market.

Sugata said that during January-June, overall vehicle sales rose 19 percent from the same time last year, with those of Toyota jumping 26 percent.

“Market growth for the first half was beyond expectation”, he said, expecting brighter outlook for the auto market.

Toyota now hopes to sell 315,000 vehicles, out of overall 980,000 units expected to be sold in the market in 2018. It maintains its export target of 300,000 vehicles, matching last year.

Sugata also said that import tariffs under consideration in the United States for vehicles and parts should have limited impact on Thai auto exports as under 10 percent go to that country.

However, if other countries introduce protection measures, there will definitely be an impact, he added.

In Southeast Asia, Toyota aims to sell 3.5 million vehicles this year, having sold 1.71 million in January-June. Last year, it sold 3.36 million vehicles across the region.-VNA