Motorcycle sales in Thailand are expected to stay above 2 million in 2014, boosted by a growing economy and higher wages.
Suchart Arunsaengroj, the director of AP Honda Co, said he believes the economy could still achieve annual growth of 4-5%, while the daily minimum wage of 300 baht nationwide is helping to drive up motorcycle sales.
"Consumer confidence remains strong, so the motorcycle market remains promising," he said, projecting sales of 2.1 million motorcycles this year compared with 2.13 million last year.
Honda's latest report shows Thailand's motorcycle industry remained promising in the first half of this year even though the economy started to stutter in the second quarter.
Sales reached 1,097,490 motorcycles, a slight year-on-year drop from 1,106,037.
Mr Suchart said the industry showed positive signs despite the market slowing in May and June as a result of the unstable economy, particularly volatile foreign exchange that hampered consumer spending.
Honda sold 810,070 motorcycles in the first half, up by 6%, following product launches and marketing campaigns.
Honda's campaigns to build its brand image though musical and sports events included football matches involving Thailand, Manchester United, Liverpool and Barcelona.
"Competition is expected to intensify in the second half, particularly during the rainy season, when sales are usually slow," Mr Suchart said.
"Manufacturers will certainly prepare more marketing campaigns to boost sales, which this year are expected to reach 2.1 million units, a little lower than originally forecast."
Of first-half motorcycle sales, 523,581 (48%) were family motorcycles, 500,092 (46%) were automatic, 41,241 (4%) were sports motorcycles and 32,576 (3%) were other types.
Honda posted the largest sales, 810,070 motorcycles for a 74% market share, followed by Yamaha with 211,824 (19%), Suzuki with 28,894 (3%), Kawasaki with 24,926 (2%) and other brands with 21,776 (2%).
Motorcycle sales reached 190,336 in June, of which 89,193 (47%) were automatics. Family motorcycles achieved sales of 86,691 (46%), sports motorcycles accounted for 8,641 units (5%) and other types sold 5,811 (3%).
Honda posted sales of 141,545 last month for a 74% market share, followed by Yamaha with 36,624 (19%), Suzuki had 4,231 (2%), Kawasaki had 4,442 (2%) and other brands 3,494 (2%).