Bangkok--17 Jan--Toyota Motor Thai automobile market finished the year 2007 at 631,250 units, down 7.5%, but with an expected recovery in the Thai economic scenario in 2008 plus positive factors, expects the market to rebound by 11% to 700,000 units, Toyota plans to sell 310,000 vehicles in 2008 and grab a commanding 44% market share, according to company president Mr. Mitsuhiro Sonoda.In 2007, total car sales reached 631,250 units, down 7.5%, passenger car sales reached 170,117 units, down 11.3%, while sales in the commercial vehicle segment reached 461,133 units, down 6.0%, and the 1-ton pickup truck market within this segment has fallen by 9.8% to 405,865 units. Mr.Sonoda said: "Although 2007 was a difficult year for the automobile industry, the sales volume, when compared quarter by quarter, showed signs of improvement. In the first quarter of the year sales plunged to 81.3% but the market was stronger in the second quarter where sales recovered to 93.6% which has been beneficial for the auto maker in the first six months of the year. In the third quarter there was growth by 3.3% for the first time of the year, and followed by the another growth in 4th quarter excluding December which there was another sales slide in the fourth was irregular and also the effect of government’s announcement on excise tax cuts for automobiles compatible with E20 gasohol, It is one of the evidence of economic recovery. Among the positive factors in the second half of the year was the easing up of the political situation that has been vague since the start of the year, as well as effective economic stimulus measures that helped build up consumer confidence in the country's economy against the increase in fuel prices which has hit new highs." "The past year was another successful year for Toyota -- we were able to finish the year with a 44.7% market share with total sales of 282,088 units, which is slightly lower compared the previous year We were also able to finish the year as the top brand in the total market, passenger car market, commercial vehicle market and especially in the pure 1-ton pickup market in which we secured the top position for the second consecutive year with sales of 158,348 for the Hilux Vigo which gave us a 41.4% market share," he added. 2007 Auto Sales Total sales: 631,250 units, 7.5% decrease Passenger car sales: 170,117 units, 11.3% decrease Commercial vehicle sales: 461,133 units, 6.0% decrease 1-ton pickup trucks (including PPVs): 405,865 units, 9.8% decrease 1-ton pickup trucks (not including PPVs): 382,636 units, 6% decrease Mr. Sonoda added: "Toyota's success is result of the efforts focusing to the customer by providing the both best Quality of product and Dealer Service. I would also like to truly thank the tremendous efforts from the Toyota dealer network, suppliers as well as support from the media and our valued customers." Toyota Sales in 2007 Total sales: 282,088 units, 2.4% decrease, 44.7% market share Passenger car sales: 92,530 units, equal to 2006, 54.4% market share Commercial vehicle sales: 189,558 units, 3.6% decrease, 41.4% market share 1-ton pickup trucks (including PPVs): 173,184 units, 6.7% decrease, 42.7 % market share 1-ton pickup trucks (not including PPVs): 158,348 units, 4.8% decrease, 41.4% market share "Meanwhile in terms of automobile exports, Toyota was also the leader by exporting a total of 237,774 completely built up vehicles worth Bt.99,562M (20.7% growth and 34.5% market share). In addition, we also exported 28,216 containers of auto parts worth Bt.39,176M, to bring out total export value to Bt.141,025M. This happens despite the effects felt from the strengthening of the Baht currency," Mr. Sonoda said. As for the 2008 automobile market trends, Mr. Sonoda said: "The economy is showing signs of improvement, whether it's the country's economic growth, clarity in the political situation and the belief that the new government will be able to create stability for the economy and politics. There are also other positive signs Goverrnment policy to promote Eco friendly Vehicle such as E20 by reducing the excise tax However the oil price, which has exceeded US$100 per barrel, may create negative effects, so we predict that the automobile market in 2008 will maintain a stable growth and finish the year at approximately 11% higher, or 700,000 units, with a passenger car market of 217,000 units and commercial vehicle market of 483,000 units." Car sales forecast in 2008 Total sales: 700,000 units, 11% growth Passenger car sales: 217,000 units, 28% growth Commercial vehicle sales: 483,000 units, 5% growth On Toyota's sales targets for 2008, Mr. Sonoda said: "In 2008 Toyota has set a target of 310,000 vehicles, equivalent to a 9.9% growth compared to 2007, and we hope to have a market share of more than 44 %." Toyota sales targets for 2008 Passenger cars: 111,000 units, 51.2% market share Commercial vehicles: 199,000 units, 41.2% market share Export trends "In 2008, Toyota plans to export a total of 298,881 completely built-up vehicles worth Bt.126,577M. and parts worth Bt.45,894M for a total export value of Bt. 172,471M. Despite the stronger Baht currency and the fact that the higher oil prices will affect the global economy, demand for automobiles in the global market is still rising and we plan to enter new markets in order to achieve our sales targets," Mr. Sonoda said. In 2008 Toyota Motor Thailand Co. Ltd. has a challenging goal to become one of the global leaders for safety, production quality and cost management in order to develop the Thai automobile industry, and lead to highest customer satisfaction," he added. "We also plan to maintain our strong support for many social activities to benefit the Thai society, as well as supporting environmental activities by staging events on a regular basis such as the 'Stop Global Warming', 'Reforestation at the Khao Ang Rue Nai Wildlife Reserve' and organization and management of the Princess Sirindhorn International Environmental Park to become a world-class natural education center in honour of HM the King's 80th Birthday Anniversary. We are also determined to produce automobiles for the environment and we would like to take this opportunity to thank all the Thai people for their trust in the quality of Toyota automobiles, which has helped us become the No.1 brand in every market segment," Mr. Sonoda concluded.