Toyota Closing Thailand Plant

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Toyota Closing Thailand Plant

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It's definitely not a very good year for Toyota. They opened the year with millions of recalls which hurt their overall sales causing them to lose millions of dollars.

And although Toyota have been posting positive revenues for their Western market, its Asian arms are not doing very well. A Toyota plant in Thailand is actually closing.

The current militaristic events at Bangkok are not the reasons why Toyota is closing one of its three plants in the country. The decision was actually made as early as November of last year when exports demands reached record low.

Most of the Toyota plants in South East Asia are all groomed to manufacture vehicles for export in Europe and in Asia-Pacific. But for almost two years now, the demand for Toyota exports in these regions were very low.

This is said to be because of the expansion of some American and European automakers around the world. In China for example, a number of European automakers moved their plants to China to avoid the hassle and cost of importing their own brands from another plant in another country. This affected Toyota's market.

It is also said virtually every automaker are suffering from excess capacity. Toyota is especially vulnerable to this. The Japanese automaker has the largest number of plants around the world, achieved when it decided to increase its visibility and production globally.

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Tags: • thailand • recalls • automotive industry • plant closing • toyota • south east asia •

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