Bangkok--4 May--Aziam Burson-Marsteller
Asian Honda Motor Co., Ltd., Honda’s Bangkok-based Asia & Oceania Regional Headquarters, today announced the company’s export results for the first quarter of 2011. Total exports for the quarter were 26,024 million baht or a 5% growth over the same period last year. Motorcycle exports continued to be strong, growing 45% by value over Q1 2010 while automobile growth declined by 15% during the quarter as a result of weakness in several key export markets.
Mr. Hiroshi Kobayashi, President & CEO, Asian Honda Motor Co., Ltd., reported that, “Honda's exports from Thailand in Q1 2011 grew at a moderate rate of 5% compared to the same period last year due to continued strong growth of motorcycle exports balanced against a decline in automobile exports from Thailand. Presently, our automobile supply chain for some parts and equipment is experiencing some disruption due to the aftereffects of the earthquake and tsunami that hit Japan on March 11th. The full impact of this disruption is not yet clear, and thus we cannot estimate our 2011 full year exports at this time.”
“We are currently experiencing some difficulty in securing a number of automobile parts and components from Japan and this may impact our production capacity in the next quarter. All of our management and staff are working very hard to manage this situation and ensure that any impact on our results will be minimal and short-lived”, add Mr. Kobayashi.
Automobiles:
In the first quarter of 2011, total exports of Honda’s automobile CBU and CKD products decreased 15% to 13,438 million baht compared to the same period last year. Automobile CKD exports in Q1 2011 increased 6% by volume and 2% by value to 7,093 million baht while exports of automobile CBU experienced a decline of 20% by volume and 28% by value to 6,344 million baht. The fall in automobile CBU exports was mainly the result of significant market declines in Australia and Philippines. Honda is continuing to explore new markets and in December 2010 the company exporting the CITY to Mexico and South Africa.
Motorcycles:
Total motorcycle CBU and CKD export value in Q1 2011 increased 45% to 7,504 million baht. Motorcycle CBU exports in the 1st quarter achieved very strong growth of 496% by volume (30,041 units). This performance was driven by the PCX, CBR125R and CBR250R all of which have been well accepted by customers around the world including Europe, Japan, the U.S., Australia and Indonesia. Motorcycle CKD units increased 13% by value to 5,516 million baht due primarily to market expansions in Vietnam and Indonesia.
Power Products:
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 20% by volume to 591,073 units and 24% by value to 3,596 million baht. The growth in power products exports was supported by expansion in key Asian markets.
Other Exports:
In addition to its three primary export product lines, Honda also exports spare parts, accessories, jigs and molds from Thailand to many global markets. Exports of these supporting products rose 68% with for a total Q1 2011 value of 1,486 million baht.
Honda is one of the world’s leading producers of advanced technology mobility products. It is also the world’s largest manufacturer of clean, fuel-efficient internal combustion engines and the largest producer of motorcycles. Since Honda started exporting from Thailand in 1987, the value and volume of product exports from Thailand has constantly grown. At the end of 2010, the cumulative value of Honda exports from Thailand reached 723,402 million baht.