Thai Honda Co, a manufacturer and distributor of multi-purpose engines, plans to increase production to 300,000 units to serve the domestic market within 2026, following a drop in its sales due to the Covid-19 impact.
Demand for the company's products is growing, marking a good business prospect, said general manager Sampan Kwanjai.
"Demand began to recover in early 2021, driven by our major markets like the US and European countries," he said.
The company's products are divided into eight categories: general purpose engines, generators, water pumps, backpack sprayers, brush cutters, lawn mowers, outboard engines and power tillers.
Thai Honda currently sells 220,000-230,000 products a year domestically.
The company is planning to further penetrate the Thai market through new distribution channels and turnkey after-sales services to cater to Thai customers.
In 2022, Thai Honda plans to penetrate the local market by reaching more target groups. Th e plan is to increase production for the local market from 7% to 10% and expand its dealer network nationwide.
"The company also exports the products to 53 countries around the world, including in Europe and the Americas," said Shiketo Kimura, president of Thai Honda.
A total of 39 million units are exported globally, which accounts for 93% of the products produced by Thai Honda, he said.
"The company takes pride in internationally accepted products made by Thai people and is committed to developing products to meet our customers' demands," said Mr Kimura.
Thai Honda has strengthened its position as the world's largest and fastest production base for "power products", he said, referring to the multi-purpose engines.
So far, the company has produced up 45 million power products.
Thai Honda started its power product business in 1987 by using Thailand as its production base and export hub.
Production capacity continuously increased to meet the increasing and wider-ranging demand.
Manufacturing speed, which stands at 16 seconds per unit, played a key role in helping the company to produce 45 million products.
Based on a "Helping People Get Things Done" philosophy, Thai Honda's products are also designed to meet the specific uses of customers in each country.