Thai Honda has announced a successful 2021 with 1.236 million units sold, maintaining its top rank in the market for the 33rd consecutive year. Honda motorcycles also grabbed the number 1 spot in all segments. With the overall market expected to grow continuously, Thai Honda is ready to reinforce its top position with Power Products and an after-sale service that responds to the modern lifestyle. Market growth for 2022 is expected to be 5%.
Mr. Shiketo Kimura, President of Thai Honda Manufacturing Co., Ltd., stated: "The overall market for the motorcycle industry in Thailand continued to grow in 2021. Honda has maintained its market leadership for 33 years in a row. Of the 1,611,078 units registered overall, Honda accounted for 1,236,476 units.
"Looking into each category, we've found the family segment has maintained its popularity. Honda Wave 110i ranked number 1, with 530,408 units sold, representing a 52% market share. In the AT segment, the Honda Scoopy topped with 180,914 units sold, representing 1% growth and accounting for 43% of market share. In the sport segment, meanwhile, the Honda CRF300L was the best-selling motorcycle, with 6,944 units sold, representing a 5% market share.
Mr. Shiketo continued: "This 6% overall growth is a good sign for the Thai motorcycle market, It confirms that motorcycles remain an important part of the Thai lifestyle. They have been used both as a transport and career tool. The popularity of AT has continued to rise, as the younger generation prefers a motorcycle that's easy to ride and provides larger storage. The AT motorcycle also come in a variety in styles that can match the unique lifestyle of the individual. Various stimulus packages rolled out by the government have continued to stimulate a floundering economy."
"In 2022, we expect the motorcycle industry in Thailand to continue to grow. With positive factors such as the stimulus package rolled out by the government and people's desire to get their lives back on track, we forecast that the overall market will increase slightly by 2%, reaching 1,644,391 units sold. At Honda, the sales target has been set at 1,300,598 units, or 5% growth, which is larger than that of the overall market.
"The past year did not only reflect a positive sign for the industry, but also marked an important step for Thai Honda. The sales and manufacturing departments have been merged to maximize their performance in serving the market. Today, our production line can be adjusted to meet the fluctuating market in a more efficient and timely manner. This merger also allowed us to provide a better after-sales service to our customers."
"Apart from motorcycles, Thai Honda is also a manufacturer of Power Products. Our production capacity isn't limited to just the domestic market, but is also to serve the global market. Thai Honda is one of Honda's most important manufacturing and distributing bases for motorcycles and Power Products to meet global demand."
Thai Honda Manufacturing Co., Ltd., has a production capacity for motorcycles of 1.76 million units per year. A total of 82% of locally manufactured motorcycles are sold within the country and the rest are exported. Production capacity for Power Products is 2.7 million units per year. Of all the locally manufactured products, 93% are exported and the remainder are sold in Thailand.
"At Thai Honda, our customers' satisfaction has always been the goal. From this point on, we will do our best to deliver endless happiness to our users," Mr. Shiketo concluded.