Honda’s 2009 exports from Thailand exceed 71 billion baht Anticipates 2010 exports could reach 90 billion baht

Asian Honda Motor Co., Ltd., Honda’s Bangkok-based Asia & Oceania Regional Headquarters, today reported that exports of Honda’s products from Thailand during 2009 reached 71,006 million baht, representing a 32% decline compared to 2008. Exports in Q4 reached 19,477 million baht, down 17% from the same period last year. The increase in exports for the last quarter of 2009 represents a significant improvement as the global economic situation continued to recover.


Mr. Fumihiko Ike, President & CEO, Asian Honda Motor Co., Ltd. said, “In 2010, we believe the auto industry will be more stable. Honda’s 2010 exports are projected to grow by 27% to a total value exceeding 90,000 million baht, mainly contributed by an increasing demand of automobiles in Australia and other countries in Asia. However, we need to consider many factors such as an uncertainty in oil prices or foreign exchange rates. To ensure our competitiveness in the global market, Honda is continuing to develop new products. We launched the new PCX scooter model in Thailand in September 2009 and plan to begin exporting the PCX to Japan, Europe, the United States and other Asian countries in early 2010.”

In 2009, Honda’s exports from Thailand reached 71,006 million baht. Exports were driven by automobile CBU and CKD units which accounted for 43,072 million baht, or 61% of total export value. This was followed by motorcycle CBU and CKD exports at 16,272 million baht, representing 23% of the total value; and power products at 8,009 million baht, or 11% of the total value. Remaining exports included spare parts, accessories and dies & molds worth 3,652 million baht, or 5% of the total export value.
Automobiles:

In 2009, the total value of Honda’s automobile CBU and CKD exports declined 34% to 43,072 million baht. Automobile CBU exports reached 38,055 units, which is a 47% drop in value to 20,736 million baht. Automobile CKD exports were 308,940 units, a decline of 14% in value to 22,336 million baht. Automobile CKD exports experienced less of a decline than automobile CBU exports due to the impact of local economic stimulus plans in many countries among the region.

Honda exports five models – the City, Jazz, Civic, Accord and CR-V – to over 40 countries worldwide with key markets including Australia, ASEAN, the Middle East and New Zealand. The City is the most successful export model, with 13,726 units representing 36% of total volume, followed by the Civic at 9,343 units and the Jazz at 7,099 units. These three models account for 79% of total exports, which clearly indicates the growing trend towards small passenger cars in the world market. Australia accounted for 59% of total export volume, followed by Indonesia and Philippines.
Motorcycles:

The total value of Honda’s motorcycle CBU and CKD exports in 2009 decreased by 31% to 16,272 million baht. Motorcycle CBU exports in 2009 dropped 59% by volume to 10,214 units and 65% by value to 547 million baht. Total 2009 exports of motorcycle CKD decreased 29% by value to 15,726 million baht. Honda exports the Innova and the CBR125 as CBU models to the key markets in Europe. For motorcycle CKD, ASEAN is the key markets. In early 2010, Thailand will further serve as the global manufacturing base for the PCX, which Honda plans to export to Japan, Europe, the United States and other Asian countries.
Power Products:

Thailand is Honda’s primary global production and export base for its power products, which are currently exported to over 80 countries around the world to key markets including Europe and the United States. During 2009, exports of power products decreased 24% by volume to 1,325,287 units and 21% by value to 8,009 million baht. Although demand for power products in the US market remained stagnant, the overall decline was better than expected due to the expansion of 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. The export of spare parts also declined 33% during 2009 to 3,652 million baht.

Honda is one of the world’s leading producers of advanced technology mobility products. It is the world’s largest manufacturer of clean, fuel-efficient internal combustion engines and the largest producer of motorcycles. Honda started exporting from Thailand in 1987 and the value and volume of product exports from Thailand has constantly grown. By end of 2009, the cumulative value of Honda exports from Thailand has reached 625,836 million baht.