BANGKOK, 21 January 2014 President of Toyota Motor Thailand Co. Ltd. Mr. Kyoichi Tanada stated that the company remains hesitant about investing in Thailand for its near future, quoting political unrest as the main reason.
Toyota has unveiled that its investment plans to build automobile production hubs will depend upon Thailand’s political situation. Mr. Kyoichi stated that the company would like to see new investments at the Bang Pho factory in Chachoengsao province in the next 3-4 years; however, political tensions in the country have raised some concerns from the company’s headquarters in Japan.
Although the current demonstrations have not had a significant negative effect on the conglomerate, Mr. Kyoichi stated that there are fewer people visiting the showrooms due to the protests, which could result in lower sales in Thailand.
Mr. Kyoichi added that last year Toyota saw a 7.4% drop in its Thailand sales – albeit having a good first half of the year and benefiting from the government’s first-car buyer’s scheme. However, the company plans to once again reign as the number one car seller in Thailand this year.
