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HONDA MOTOR CO., LTD.

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Delayed Japan Exchange  -  05/25 11:58:44 pm EDT
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Thai domestic car sales drop 4.2% in 2021, seen higher this year

01/24/2022 | 12:36am EDT
FILE PHOTO: Bangkok International Motor Show

BANGKOK, Jan 24 (Reuters) - Domestic car sales in Thailand fell 17.2% in December from a year earlier and dropped 4.2% in the whole of 2021, due to coronavirus outbreaks and a shortage of microchips, the Federation of Thai Industries (FTI) said on Monday.

Car sales totalled 86,145 units in December and 759,119 vehicles in all 2021, slightly above target, the FTI said.

In 2022, the FTI still forecasts car sales at 800,000 to 850,000 vehicles, or a rise of 5.4% to 12%, supported by easing of travel curbs and economic recovery, Surapong Paisitpattanapong, a spokesperson for FTI's automotive industry division, told a briefing.

Thailand is a regional vehicle production and export base for the world's top carmakers, including Toyota, Honda and Mitsubishi.

The industry accounts for about 10% of Thailand's gross domestic product and its manufacturing jobs.

Car exports, however, jumped about 48% in December from a year earlier and rose 30.4% in the whole of 2021, the FTI said. It predicts car exports to rise by 4.3% to 1 million vehicles in 2022.

(Reporting by Satawasin Staporncharnchai and Orathai Sriring; Editing by Martin Petty)


© Reuters 2022
Stocks mentioned in the article
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HONDA MOTOR CO., LTD. 0.58% 3124 Delayed Quote.-1.67%
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TOYOTA INDUSTRIES CORPORATION 0.12% 8080 Delayed Quote.-10.34%
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Financials
Sales 2022 14 540 B 114 B 114 B
Net income 2022 673 B 5 290 M 5 290 M
Net Debt 2022 5 088 B 39 984 M 39 984 M
P/E ratio 2022 7,95x
Yield 2022 3,71%
Capitalization 5 313 B 41 755 M 41 755 M
EV / Sales 2022 0,72x
EV / Sales 2023 0,61x
Nbr of Employees 211 374
Free-Float 91,4%
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Number of Analysts 18
Last Close Price 3 106,00 JPY
Average target price 4 082,35 JPY
Spread / Average Target 31,4%
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Managers and Directors
Toshihiro Mibe President, Chief Executive Officer & Director
Kohei Takeuchi CFO, Director & Compliance Officer
Seiji Kuraishi Chairman
Kunihiko Sakai Independent Outside Director
Fumiya Kokubu Independent Outside Director
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