Thai Toyota Prices To Drop
BANGKOK, Thailand (AP) _ Japanese carmaker Toyota plans to reduce prices of vehicles made in Thailand in a bid to raise its market share here, according to the president of its Thai subsidiary.
Yoshiaki Muramatsu of Toyota Motor Thailand Co. told a news conference late Wednesday that the company will be able to cut prices of its locally produced vehicles by purchasing all of its parts domestically. Local parts are less expensive than imports from Japan.
The aim is to boost domestic market share to 35 percent from the current 29 percent by 2003.
Toyota Motor Thailand uses about 80 percent domestic parts in its pickups and 55 percent to 87 percent in its passenger car models.