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Shrugging off global economic uncertainty, high fuel prices and the baht's appreciation, Asian Honda Motor Co is determined to raise the value of its automotive product exports from Thailand by 12% to 112.1 billion baht this year. Honda's exports last year rose 20% year-on-year to 100.16 billion baht, driven by a strong product line and acceptance from global customers.
Bangkok-based Asian Honda Motor is the Japanese company's Asia and Oceania regional headquarters,
''These remarkable results demonstrate the solid foundation of our business operations in Thailand. With continuous investment in all areas of Honda's operations, including human resource development, advanced-technology manufacturing plants and a sophisticated research and development centre, products exported from Thailand have been very well accepted worldwide,'' said president Tatsuhiro Oyama.
Honda has been exporting from Thailand since 1987, when its sales were 16 million baht. Its exports from Thailand have grown from 11.88 billion baht in 1998 to 100.16 billion last year.
By the end of 2007, cumulative exports totalled 450.43 billion baht worth of automobiles, motorcycles and power products, making Thailand one of Honda's key production and export hubs.
Export performance last year was led by automobiles, both fully built and assembly kits, which rose 29% to 64.64 billion baht. Motorcycles and kits expanded 11% to 21.65 billion baht.
Fully assembled automobile exports increased 50% last year to 41.55 billion baht, led by the Civic with 21,533 units, followed by the CR-V and the City with 20,174 and 16,803 units respectively.
Honda expects its automobile exports in 2008 to increase 16% in value to 74.93 billion baht, with an 11% gain in motorcycle export revenue to 21.65 billion baht, supported largely by market expansion in Vietnam and Cambodia.
Exports of power products held steady despite the strong baht and the decline in the US market, at 1.79 million units worth 10.74 billion baht.
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