Thailand-Japan trade deal to boost Honda motorcycle sales in Thailand
The Honda Motor company is forecasting a 20 per cent hike in sales of Japanese heavy motorcycles in 2017 in Thailand as the country is expected to enter a trade deal with Japan, its subsidiary A.P. Honda said Tuesday.
Import duty on motorcycles with engine displacement above 400cc will be waived by April 2017 as part of the Japan-Thailand Economic Partnership Agreement, cutting prices of imported bikes by 5 percent, A.P Honda manager Bunluesak Chonprasertsuk told dpa.
Bunluesak said 18 per cent growth was projected for 2016, with 24,000 heavy motorcycles being sold, 10,000 of which are expected to be sold by Honda.
In 2017, with the tariff exemption waived, 27,000 heavy motorcycles are expected to be sold in Thailand, 11,500 of which would be from Honda.
"Two factors (besides the tariff exemption) contributed to the continuous growth - our effective marketing campaign and Thai's growing interest in big bikes," Bunluesak added.
Honda is the market leader for heavy motorcycles in Thailand with a38 per cent share of total sales.
