Honda Automobile (Thailand) is considering reducing its export-allocated production next year.
Exports account for 20% of Honda’s Thai production.
A number of Thai operations are currently reviewing production schedules for next year and Thailand’s hitherto upbeat automotive sector could be about to see a reversal on the back of softening demand at home and in export markets.
Auto production this year is estimated at 1.445m units. Of that, some 620,000 vehicles are expected to be sold domestically, and 825,000 will be for export. In the first nine months of the year, production grew 14% year on year to 1.07 million vehicles, with exports growing 22% to 603,063 units and domestic sales up 2% to 461,085.