丰田更新东南亚战略车型，以本地化抗衡中企

Core Insights - Toyota has launched a comprehensive update of the HiLux pickup truck, its first in 10 years, focusing on expanding sales and production in emerging markets, particularly Thailand [2][3] - The new HiLux features improved fuel efficiency, with a maximum enhancement of 8%, and complies with European emission standards "Euro 5" [3] - The introduction of an electric version of the HiLux marks Toyota's first true EV produced in Thailand, with a planned launch in 2024 and commercial production aimed for the end of 2025 [3] Market Strategy - The new HiLux will be produced in Thailand, which serves as the main manufacturing base, with plans to expand production to Argentina and South Africa [3] - The local procurement rate for parts in Thailand is 95%, which supports higher profit margins due to shared chassis with other models [3] - Toyota aims to increase the sales and production of the new HiLux in other emerging markets to enhance profitability [3] Sales Performance - The HiLux has been a significant model under Toyota's IMV strategy, contributing to nearly 70% of the IMV series global sales, which are projected to reach 830,000 units in 2024 [5] - The pickup market in Thailand is experiencing a sharp decline, with projected sales dropping by 56% from 2022 to 2024 [6] - Japanese cars' market share in Thailand has decreased to 68% as of August, down from around 90% in 2020, while Chinese cars have increased their market share to 23% [9] Competitive Landscape - The competition from Chinese automakers like BYD, which are expanding low-cost EV and PHEV sales in emerging markets, poses a significant challenge for Toyota [2][9] - The ability to capture demand in emerging markets, particularly among the expanding middle class, is crucial for future competitiveness [9] - Toyota is also planning to strengthen its business in emerging markets, including a new factory in India by 2026 [9]