AP Honda ready to ride economic trend
AP Honda, a local distributor of Japanese motorcycles, expects sales volume of 1.48 million units in 2018, up 3.9% from the previous year, thanks to overall economic sentiment that is set to beef up consumer purchasing power.
Vice-president Suchart Arunsaengroj said the growth of Honda sales is in line with the overall motorcycle market, projected to grow by 3% to 1.87 million.
He said the economy is doing well, driven by the government’s stimulus measures and acceleration of infrastructure megaprojects.
“The government forecasts the country’s GDP in 2018 to grow by 3.5-4.0%, which shows a positive outlook for the domestic economy,” Mr Suchart said. “More importantly, the future national election is aimed at speeding economic growth.”
Of the total motorcycle market, Honda projects the big-bike segment (over 400cc) to grow by 16.6% to 34,500 motorcycles sold in 2018.
Meanwhile, Honda expects its own bigbike sales to reach 15,700 units, up 21.7%.
According to Mr Suchart, Honda plans to launch 10 new models in 2018, all coming with high technology and ecofriendly platforms such as hybrid and battery-fuelled motorcycles.
Two of the new models have already been launched: the Super Cub and the CB300R.
Honda is also committed to its new distribution channel, Cub House, which has teamed with Mudman Plc, the MAIlisted restaurant operator, to open 10 cafe
locations in 2018, including the first branch in the Ekamai area by the end of March.
A feasibility study is under way of a mobile app for two-way communication and a CRM (customer relationship management) channel to enhance the current service.
The app will be demoed for big-bike customers and Cub House visitors.
“The new channel is scheduled to be launched in the first half of 2018, while the application will allow Honda to create tailor-made content for individual customers,” Mr Suchart said.
Yesterday, AP Honda reported total sales of 1,424,000 motorcycles in 2017, up 3.9% year-on-year.
Honda motorcycles retained their No.1 market share for a 29th straight year at 78.4%.
Of total sales, about 12,900 units were in the big-bike segment.
President Yoichi Mizutani said Thailand’s motorcycle market expanded by 4% with total sales of 1,816,000 units last year, with big bikes making up 29,600 sold.
Thailand’s motorcycle sales surpassed 2 million for the first time in 2011, hitting 2.01 million.
Sales rose to 2.13 million units in 2012, marking the highest ever in the country, before dropping to 2 million in 2013.
In 2014, the market plunged by 15% to 1.7 million amid political turmoil and payment delays to farmers under the ricepledging scheme, before dropping to 1.68 million in 2015.
2016 was the first year in which the overall market began to recover, with 1.75 million units sold.