Thai Examiner
Toyota reaffirms its commitment to Thailand after tax relief move and amid a courtship from Indonesia
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Toyota rules out an exit from Thailand as Indonesia targets the Japanese giant and its supplier network. Bangkok moves to shore up local EV, hybrid and ICE production after a savage downturn cuts annual vehicle output by more than 400,000 units.
Key facts
- Thai vehicle production slides sharply after 2022 peak as pickup demand and domestic sales deteriorate
- Thai output has fallen by more than 400,000 vehicles since 2022, while Toyota anchors three plants, 13,000 jobs and a vast supplier network built over six decades.
- Even so, the market remained almost 27% below its 2022 level
- Domestic sales also remain almost 27% below their 2022 total.
- Toyota rules out an exit from Thailand as Indonesia targets the Japanese giant and its supplier network
- Toyota urges tighter investor screening as Bangkok prepares broader tax support for local car production
Summary
Top Japanese automaker Toyota has ruled out abandoning Thailand as Bangkok scrambles to shore up an automotive industry hit by collapsing production, weak sales and fierce Chinese EV competition. The Japanese giant says it will keep investing, despite Indonesia openly courting its factories and suppliers. At the same time, Finance Minister Ekniti Nitithanprapas is preparing broader tax relief for locally made EVs, hybrids and conventional vehicles. The stakes are high.
Toyota has firmly ruled out leaving Thailand as Bangkok moves to protect its battered automotive manufacturing industry. The Japanese giant says it will continue investing and producing vehicles in the kingdom. However, Toyota wants the government to keep listening to manufacturers and address pressures threatening domestic production.