Asian Honda Motor's export in the first quarter this year soared by 53 per cent year on year thanks to the global economic recovery, said president & CEO Fumihiko Ike.
Asian Honda is Honda's Bangkok-based Asia & Oceania Regional Headquarters, which Ike noted that the demand from
the international market has significantly increased, which had a positive impact on Honda's export performance from Thailand in first quarter 2010. During the quarter, exports for all three of Honda's main product lines - automobiles, motorcycles and power products - reached Bt24.68 billion, representing a 53 per cent increase compared to the same period last year.
"Based on this result, we are maintaining our annual target for the total export value from Thailand of Bt90 billion or a gain of 28 per cent over 2009."
Total exports of Honda's automobile CBU and CKD products increased by 59 per cent to Bt15.74 billion in the first quarter this year. Automobile CBU export volumes increased by 31 per cent to 16,334 units, driven by a recovery in demand, particularly in Australia. Automobile CKD exports staged a significant increase of 87 per cent by value to Bt6.95 billion due to strong market demand in Asia.
At the end of 2010, Honda expects exports of automobile CBU units to grow 28 per cent by volume to 48,851 units and 30 per cent by value to Bt26.88 billion while automobile CKD exports will see consistent value growth reaching Bt27.09 billion
A total motorcycle CBU and CKD export value in first quarter this year increased 50 per cent from Bt3.44 billion to Bt5.16 billion. Exports of motorcycle CBU units increased 45 per cent by value to Bt296 million. While exports of motorcycle CKD units rose 50 per cent by value to Bt4.87 billion, with strong contributions by market expansions in Vietnam and Indonesia.
For motorcycle CBU units, Honda exports three key models from Thailand - the Innova, the CBR125 and, most recently, the PCX - to over 28 countries worldwide with the key markets being Europe and Asia. Honda targets total motorcycle CBU and CKD exports to achieve 44 per cent growth by value to reach Bt23.41 billion by the end of this year.
Thailand is Honda's largest export production base for power products. Currently, Honda exports a wide range of power products to over 80 countries worldwide with important markets in the Asia-Oceania, USA and Europe. Exports of power products including CBU and CKD components increased 58 per cent from Bt1.83 billion to Bt2.89 billion in the first quarter this year.
The cumulative value of Honda exports from Thailand is expected to reach Bt716.66 billion.