AP Honda Co, the local distributor of Honda motorcycles, expects sales of its big bikes to continue growing this year, helping to offset the decline in its overall motorcycle sales.
Honda’s big-bike category is expected to account for 10,000 units out of 25,000 units in the overall market in 2016, AP Honda president Nobuhide Nagata said yesterday.
"The drought may affect the agricultural sector this year, but we still foresee promising prospects for the domestic motorcycle market thanks to the government’s water management and growing tourism sector," he said.
He said AP Honda strengthened its leadership in Thailand’s motorcycle market with sales of 1.35 million units in 2015 out of 1.68 million units in the overall market.
"The domestic motorcycle market remained rather static last year, with total sales of 1.68 million units, a 1% drop from the previous year. Thailand already has a large number of motorcycle users while the weak economy failed to boost purchases," said Mr Nagata.
"However, the big-bike category is still growing thanks to high-end urban consumers. Sales last year reached 19,000 units, a 20% increase. Honda sold 6,900 units or a 26% increase," he added.
AP Honda posted sales of 1.36 million motorcycles in 2014, down from 1.49 million in 2013 and 1.48 million in 2012.
Mr Nagata said that, in addition to big bikes, other categories that are doing well are high-end motorcycles and hobby bikes.
"Thai consumers do not only buy motorcycles for commuting but also to have fun experiences and to reflect their social status. A motorcycle has become a part of their lifestyle," he said.
In a move to keep up with changing consumer lifestyles at different ages, AP Honda plans to introduce 10 new models over the next two years, starting with the Honda MSX125SF, a mini sport bike aimed at young people looking for a flexible bike to ride in the city.
The company will also open eight more branches of Honda BigWing to cater to the growing number of big-bike users. Next year it will develop a new concept network called the New Valued Network to meet the demands of specific groups of users.
Mr Nagata said AP Honda was also poised to present new fun experiences for motorcycle fanatics at its Active Riding Centre.
The centre has developed from its original purpose as a safety riding centre to one focusing on developing a safety culture for tourist riders as well as sports riders.
Motorcycle fans will also be able to test the performance of their bikes as well as their technical skills.
Moreover, the centre will feature motorcycle accessories and collections from Honda.
Active Riding Centres are slated to open in Chiang Mai and Phuket in May.
