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 big-bike 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 eco-friendly 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 MAI-listed 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 rice-pledging 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.
