Japanese Motorcycle Makers Going into High Gear in Asia
Malvar, Philippines, May 31 (Jiji Press)--Japanese motorcycle makers are revving up business in Asia, taking advantage of growing demand in the region.
Combined motorcycle sales in Indonesia, Thailand, Vietnam and the Philippines, as well as shipments in India, increased around 9 pct year on year to 34.77 million units in 2018.
As domestic demand remains sluggish, many Japanese motorcycle makers are increasingly looking to Asia, fueling the race for a larger share in the expanding market.
Honda Motor Co. <7267> announced in the autumn of 2018 that it will raise the annual production capacity at its scooter plant in India by about 10 pct to seven million units by 2020. It is considering additional investments.
While local motorcycle makers are still dominant in India, the biggest motorcycle market in Asia has great appeal also to Japanese makers.
[Copyright The Jiji Press, Ltd.]