The Bangkok Post reports that Honda is planning for a 2.8 billion baht ($91.7 million) expansion of its motorcycle production facilities in Bangkok, Thailand, due to rising sales. Production in the new facility is expected to begin in July or August.
Thai Honda Manufacturing Co.’s overall motor sales are expected to set a record of 2 million units or more this year, bolstered by the success of the Wave. The company’s previous record for motorcycle sales was 1.98 million units in 2005.
The consumption rate for motorcycles locally is one unit for just over three people, behind Taiwan and Malaysia, according to the article.
In other news, Honda Motor Co., Ltd. forecast a rise of 10.5 percent in unit sales of motorcycles for the fiscal year ending March 31, 2012. Honda expects to see a rise to 12,645,000 units sold for this year, compared to 11,445,000 for the year ended March 31, 2011. Honda’s overall net income is expected to drop by more than 60 percent compared to a year ago due to the aftermath of the earthquake.