SAT To Become an Auto Parts Manufacturing Leader in ASEAN with Excellent Quality May, 2011
Agenda Industry Overview Group Business Performance Review Future Outlook Appendices
Thailand, a world top auto assembler, is poised for impressive growth Global car production Annual growth CAGR (2010) (2010 - 2014) Million units 13% 7% Total 85.2 82.1 90 7% 8% 78.0 Middle East & Africa 71.5 South America 7% 9% 64.9 57.2 North America 27% 8% 60 Europe 5% 6% 30 Asia 16% 7% 0 2009A 2010F 2011F 2012F 2013F 2014F Strength of Thailand as Automotive Clusters Recovering and Growing consumer demand for automobiles. Strong presence of automotive supporting businesses. Strong Government Support i.e. incentive tax structure, supporting organization etc. Based of OEM’ R&D Centers Geographical and logistic advantages - Thailand as a gateway to Asia providing easy access to regional markets - Established infrastructure and state of the art port facilities to facilitate auto export - Cluster development of suppliers to reduce the cost of logistics and create economies of scale Extensive & experienced suppliers - Due to approx. 1,800 auto part manufacturers to supply the industry or car makers can be sourced all locally. Source: Autofacts 2010 estimates, an analytical group of PricewaterhouseCoopers 3
Rosy Picture as Strong Demand Recovery Thailand auto industry Production by type of vehicles Million units 2.5 3.0 23% 2.5 CAGR (1997-2008) 2.4 2.0 2.2 2.5 2.0 21% Production 13%/Domestic 5%/Export 30% 4% 1.5 1.8 2.0 1.6 30% 1.5 1.4 1.4 1.3 1.3 1.0 1.2 1.5 1.2 1.1 1.0 0.9 1.0 54% 0.9 0.8 0.8 65% 1.0 0.7 0.5 0.6 0.5 0.5 1.1 0.5 0.4 0.4 1.0 0.4 0.9 0.3 0.3 0.9 0.8 0.2 0.8 0.5 0.2 0.2 0.2 0.2 0.1 0.7 0.0 0.7 0.1 0.0 0.6 0.6 0.6 0.5 0.5 0.4 0.4 2010A 2011F 2012F 2013F 2014F 2015F 0.3 0.3 0.0 0.2 0.1 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011F 2012F 2013F 2014F 2015F PU&PPV PC Eco car Others Annual Growth CAGR Automotive Industry • The March earthquake and tsunami in Japan 2010 (2011 – 15F) crippled imported parts supplies to Thailand, forcing carmakers to cut production in line with Production 65% 9% the tight supplies of parts in their inventories. • Car manufacturing in Thailand was temporarily Domestic 46% 6% cut production, therefore it will be back to normal faster than expected. Export 67% 10% • As its result, the auto production target get back to the original number of 1.8 mil.units as before the disaster in Japan. Source: FTI: The Federation of Thai Industries and SAT estimates (2011 - 15) 4
Most updated impacts from Japan’ Tsunami Carmakers Japan Thailand Toyota full production should pick up Car manufacturing in Thailand will be back by next month, June. to normal by May 23. Nissan Plant in Iwaki has resumed full Production in Thailand will get back to normal by this June. operation and expects to reach its optimum production pace by October. Honda its parts supply production has Expect to get back to normal capacity by picked up and is well on the September. way to normal levels. Isuzu Expect to resume to normal by July. AAT Expect to resume to normal by July. 5
New Cars Market in Thailand for 2010 and beyond Brand 2010 2011 2012 2013 2014 D-Max (RT50- Isuzu D-Max 2 / D-Max (RT50) SUV => to replace MU-7) Jazz-Hybrid 3 / Jazz 1 /City 1 / Eco car (2CV)/ Honda Accord Jazz / City Accord 1 / CR-V Civic (2HC) Prius-hybrid/ Vios 1 /Yaris 2 / Toyota Yaris 3 /Eco car 3 Hilux (IMV2) Corolla Vigo 2 Corolla 1 , Camry Mitsubishi LancerEX/Triton None Eco-Car Triton (special edition) March (Eco New compact March (sedan) / Nissan car) /Navara 1 / Navara sedan (to replace Qasana 3 Venette (NV200) Tida Latio) Mazda2 (sedan) , Mazda3/ Mazda Mazda3 1 BT50 (T6) Focus/Everest Fiesta (B229), Ranger (T6) / Ford (Escape Escape 1 / Focus 1 discontinued) Colorado (SUV) Chevrolet Cruze (J300) Colorado (GMI700) /Aveo(T300) Suzuki Swift/SX4 3 Eco car 6 Note : 1 - minor change 2 - nano change 3 - not confirmed
3M2011 Production and Sales Nissan Honda Isuzu Nissan Isuzu 8% 6% 5% 12% Honda 11% AAT Isuzu Honda 13% Nissan 18% AAT 21% 10% 17% 13% Other Other AAT 6% Other 5% 7% 2% MMth MMth 6% MMth 13% Toyota Toyota Toyota 19% 36% 39% 33% Units +22.5% Y-Y 6,731 500,000 400,000 +43% Y-Y 177,259 +8.2% Y-Y (38%) 300,000 0 6,731 47,041 200,000 113,970 (28%) 284,991 (46%) 100,000 171,118 113,873 (61%) (48%) (72%) 0 Production Dom Sales Exp Sales Other Passenger Car Pickup & PPV Source: TAIA (The Thai Automotive Industry Association) 7
2010-3M11 Production Trend by Type and Brand Pick Up & PPV Passenger unit unit 50,000 25,000 22,500 40,000 20,000 17,500 30,000 15,000 12,500 20,000 10,000 7,500 10,000 5,000 2,500 0 0 Toyota Mitsubishi Nissan Isuzu (Isuzu&GM) Toyota Mitsubishi AAT Other Honda Nissan AAT Other 8
2010-3M11 Domestic Trend by Type and Brand Pick Up & PPV Passenger unit unit 20,000 20,000 17,500 17,500 15,000 15,000 12,500 12,500 10,000 10,000 7,500 7,500 5,000 5,000 2,500 2,500 0 0 Toyota Mitsubishi Nissan Isuzu (Isuzu&GM) Toyota Mitsubishi AAT Other Honda Nissan AAT Other 9
2010-3M11 Export Trend by Type and Brand Pick Up & PPV Passenger unit unit 30,000 8,000 7,000 25,000 6,000 20,000 5,000 15,000 4,000 3,000 10,000 2,000 5,000 1,000 0 0 Isuzu (Isuzu&GM) Toyota Mitsubishi Toyota Mitsubishi Nissan Nissan AAT AAT Other Honda 10
2008-3M11 Export Destinations Units 775,652 535,596 895,855 68,082 80,699 85,626 100% 5% 5% Africa 7% 6% 6% 5% 7% 9% 10% 9% 11% Europe 13% 7% 10% 11% 9% 12% Central & S.America 12% 75% 27% 20% 21% 20% 26% Middle East 21% 50% 27% 30% 34% 32% 24% 27% Asia 25% 27% 24% 23% 23% 21% 21% Aus, NZ & Oceania 0% 2008 2009 2010 Jan-11 Feb-11 Mar-11 Pick Up & PPV Passenger 24,000 24,000 20,000 20,000 16,000 16,000 12,000 12,000 8,000 8,000 4,000 4,000 0 0 Jan10 Feb Mar Apr May June July Aug Sep Oct Nov DecJan-11 Feb Mar Jan10 Feb Mar Apr May June July Aug Sep Oct Nov DecJan-11 Feb Mar Asia Aus, NZ, Oceania Middle East Asia Aus, NZ, Oceania Middle East Africa Europe C & N. America Africa Europe C & N. America Source: TAIA (The Thai Automotive Industry Association) 11
Agenda Industry Overview Group Business Performance Review Future Outlook Appendices
Market Share: Axle Shaft & Coil Spring Rear Axle Shaft Y10 = 85 % Customer Model Toyota Fortuner , Vigo Mitsubishi Triton , 3E45 AAT (Mazda & Ford) BT-50 , Ranger Other Isuzu D-Max, MU-7 7% SAT Market share FY ’ 11 85% SMT Pickup car 8% Customer Model Mitsubishi Lancer, New LancerEx Toyota Camry Honda Jazz , City, Accord Coil Spring Y10 = 36 % New Teana , March Nissan Passenger car Customer Model BSK Market share NHK FY ’ 11 Toyota Fortuner, Vigo 38% 62% Mitsubishi Triton , 3E45 Pickup car 13
Market share : Leaf Spring & Stabilizer Bar Customer Model Mitsubishi Triton Leaf Spring Y10 = 14% Pickup car Customer Model Bus Hino NHK Market share BSK Fuso Truck 84% FY’ 11 16% Commercial car Customer Model Mitsubishi Lancer T oyota Corolla Stabilizer Bar Y10 = 37% Honda Jazz , City, Accord Passenger car Customer Model Market share NHK BSK Toyota (56 %) Fortuner, Vigo FY ’ 11 64% 36% Mitsubishi (100%) Triton, 3E45 Nissan ( 83 %) Navara , LCV Pickup car 14
Market share : Disc Brake & Drum Brake Disc Brake Y10 = 27% KIRIU Customer Model 9% Honda Jazz/City, Civic, Accord, CR-V , Eco OTHER 1% Space Wagon ,New Lancer EX Mitsubishi Passenger car SBM Market share AISIN Customer Model FY ’ 11 27% 64% Mitsubishi Triton , 3E45 Pickup car Customer Model Honda City, Eco Passenger car Drum Brake Y10 = 25 % OTHER Customer Model KIRIU 17% 5% Mitsubishi Triton, 3E45 Isuzu D-Max MU-7 SBM Pickup car 26% Market share FY’ 11 Customer Model AISIN Fuso Truck FM/FN ,Canter 52% Commercial car 15
Market Share: Exhaust Manifold Exhaust Manifold Y10 = 17% Customer Model OTHER Mitsubishi 30% Lancer SBM Pickup car Market share FY ’ 11 12% Customer Model AISIN Mitsubishi Triton , 3E45 58% AAT BT-50, Ranger Pickup car 16
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