Despite murky economic prospects, British manufacturer Triumph Motorcycles remains upbeat about sales prospects in Thailand this year because of lower retail prices and a growing big-bike market.
According to Jakkrapong Santirat, general manager of Triumph Motorcycles Thailand, Triumph's sales fared well after Leicestershire-based Triumph took over the dealership network in Thailand last year.
Through its wholly owned subsidiary Triumph Motorcycles Thailand, the company since last November has handled not only manufacturing but all aspects of the business, including sales and marketing activity, in coordination with distributors such as Britbike.
Britbike is owned by Dom Hetrakul, an actor who became the first authorised dealer of Triumph motorcycles in 2007.
Last year, Triumph reported domestic sales of 1,512 units, compared with just 292 in 2014.
Mr Jakkrapong said the company is feeling more confident it will achieve sales of 2,400 units this year, after selling 2,112 in the January-October period.
"The British parent firm has been working closely with its wholly-owned manufacturer in Thailand to make all retail prices more attractive," he said. "All Triumph models sold in the Thai market have seen prices drop by about 30%."
Mr Jakkrapong said Triumph's market share in Thailand has grown significantly to 40%, up from 25% last year.
In keeping with the growing big-bike market, he expected Triumph would be able to maintain annual sales growth rate of 5-10%.
Triumph entered Thailand in 2002, opening its first factory in May 2002 to make motorcycle components such as frames, fuel tanks, header systems, swinging arms, engine covers and chrome-plated parts.
A second factory opened in 2006 with a painting facility and assembly line, and a third plant, opened in 2007, includes high-pressure die casting and machining.
All three factories are at the Amata Nakorn Industrial Estate in Chon Buri.
The company employs 1,100 workers in Thailand. Existing facilities make up half of total production capacity of 80,000 units a year.
All Triumph motorcycles are made at its Thai facilities, using 50-60% local content. Triumph also ships its Thai-made motorcycles to more than 40 countries.
Triumph's Thai facilities, with a combined investment of more than 3 billion baht, are the only facilities offering completely built-up production outside of Britain, representing 65-70% of Triumph sales worldwide.
In Thailand, Triumph runs eight sales outlets nationwide, including its latest showroom that opened last week in Bang Na district.