July 25, 2018 / 6:54 AM / a year ago

Thailand's total domestic car sales seen up 12 pct in 2018 - Toyota

BANGKOK, July 25 (Reuters) - Thailand’s total domestic car sales are expected to be 980,000 units this year, up 12 percent from 2017, and more than previously expected, Toyota Motor Corp’s Thai unit said on Wednesday.

Toyota, which commands about one-third of the Thai vehicle market, also raised its own 2018 car sales in the Southeast Asian nation to 315,000 cars, up 31 percent from last year, Toyota Motor Thailand’s President Michinobu Sugata told a news conference.

Sales have been supported by stronger economic growth and more activities by carmakers, he said.

In January, the company predicted overall domestic sales at 900,000 cars and its own sales at 300,000 units.

Thailand is a regional production and export hub for the world’s top carmakers, and the sector accounts for about 12 percent of the country’s gross domestic product. (Reporting by Satawasin Staporncharnchai Writing by Orathai Sriring Editing by Christian Schmollinger)

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