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|Honda's Cumulative Motorcycle Production in Thailand Reaches 10 Million Units|
|Bangkok, March 19, 2004 --- Thai Honda Manufacturing Co., Ltd. (Thai Honda) commemorated the 10 million unit milestone in local motorcycle production today, announced Asian Honda Motor Co., Ltd., Honda's Bangkok-based ASEAN regional headquarters. Honda Motor Co., Ltd. President and CEO Takeo Fukui joined the ceremony to help celebrate the milestone, which occurred earlier this month.
Thai Honda manufactures motorcycles, general power products, and various components in Thailand. Established in 1965 as Honda's first production factory in Thailand, Thai Honda began motorcycle production in 1967, and currently has an annual production capacity of 1.4 million units. In addition to serving the Thai market, Thai Honda is supplying component parts sets to Honda facilities in other ASEAN nations and complete motorcycles to European markets.
Following up on Honda's commitment to equip all motorcycle products with 4-stroke engines by 2003, production at Thai Honda has also shifted completely to 4-stroke engine motorcycles. In addition, production of the Wave125i with a 125cc engine that features an electronically-controlled fuel injection system (Honda Programmed Fuel Injection, or 'PGM-FI') began in 2003. Thai Honda became the first company in Thailand to manufacture motorcycles equipped with fuel injection system.
"This achievement proved that our customers believe motorcycles manufactured by Thai Honda have world class quality and outstanding values," said Fukui. "Thai Honda is one of the most efficient motorcycle production factories in the world supported by our 5,300 outstanding associates and hundreds of high quality parts suppliers."
The motorcycle market in Thailand is expected to grow to 1.9 million units in 2004 - an increase of approximately 8% compared to 2003. For 2004, Honda plans to achieve record high sales of 1.35 million units - a 6.2% increase over 2003 - by offering low-price products such as Wave100 and WaveZ as well as Wave125I, which offers high fuel efficiency and low emissions.
Honda is further strengthening its motorcycle R&D functions to better meet customer needs in the growing ASEAN markets with construction of a new facility that includes test courses for Honda R&D Southeast Asia Co., Ltd. to be completed by mid-2004.
< Thai Honda Manufacturing Co., Ltd. >