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Monday, August 1, 2011
Honda exports from Thailand this year are expected to fall for the first time in 14 years thanks to the devastating March 11 earthquake and tsunami in Japan, says Bangkok-based Honda Asian Motor Co.
Exports of Thai-built automobiles, motorcycles and power products dropped 11% year-on-year in the first half to 46.1 billion baht. Exports for the full year are expected to slide by 7% from last year to 90 billion baht.
Since Honda started exporting from Thailand in 1987, the value and volume of products has grown consistently.
Chief executive Hiroshi Kobayashi said the disaster in Japan on March 11 affected Honda's operations in Japan and resulted in a parts shortage for manufacturers in Thailand.
Automobile production in Thailand is gradually recovering and is expected to normalise this September.
Honda's Thai unit was said to suffer the most among local Japanese carmakers as parts dwindled, said an industry source.
However, strong motorcycle exports in the first half helped salvage the period, said Mr Kobayashi.
Total exports of automobile products in the first six months of 2011 reached 20.29 billion baht, 37% lower than the same period last year. Fully built Honda vehicle exports during that period declined 48% to 17,441 units and 8.54 billion baht, a 52% dip.
Honda exports the City, Jazz, Civic, Accord and CR-V models from Thailand to more than 30 countries. In 2011 it expanded to Mexico by supplying 2,430 units of the City in the first six months.
Honda kit exports in the first half declined 16% to 11.75 billion baht. Key markets include Asean, India, Pakistan, Taiwan, China, Turkey and Brazil.
Fully built motorcycle and kit exports grew 44% to 15.31 billion baht in the first half.
Honda exports the PCX, CBR125R, CBR150R and CBR250R motorcycle models from Thailand to 45 countries, with key markets in Europe, Japan, the US, Australia and Asean.
Demand for fully built motorcycles remained strong in the first half with growth of 224% to 63,022 units totalling 4.29 billion baht, up 265%.
Mr Kobayashi said total exports of power products in the first half remained strong with growth of 22% to 1.18 million units totalling 7.05 billion baht, up 23%. Honda exports a wide range of power products to 80 countries with important markets in Asia-Oceania, the US and Europe.
In addition to the three primary export product lines, Honda also exports spare parts, accessories, jigs and moulds, with first half figures up 4% to 3.41 billion baht.
Parent company Honda Motor Co also announced from Tokyo yesterday its second-quarter profit tumbled to 31.7 billion yen (12.2 billion baht) from 272 billion yen a year earlier, a decline of almost 90%. Japan's No.3 automaker said it managed to remain in the black thanks to its growing motorcycle business.
Honda now expects a 230-billion-yen profit for the fiscal year ending in next March 31.
That is less than half of Honda's 534-billion-yen profit in the previous fiscal year, but is better than the 195-billion-yen forecast made in June.
Honda also raised its annual sales projection to 8.7 trillion yen, down 3% from the previous year but better than the 8.3 trillion yen it expected in June.
Labels: Honda
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