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Hino Motors says Indonesia, Thailand growth slowing; may miss sales targets

TOKYO, Sept 27 (Reuters) - Japanese truck maker Hino Motors Ltd is likely to miss its sales targets in Indonesia and Thailand this financial year because of slowing economic growth and increasing competition, its president said on Friday.

Hino, 50.1 percent owned by Toyota Motor Corp, still expects sales in its second- and third-largest markets after Japan to grow year-on-year, though the pace of growth is slowing, President Yasuhiko Ichihashi told Reuters.

He declined to give specific figures.

Hino projects sales of 38,200 vehicles in Indonesia in the year ending March 2014, an increase of 14 percent from the year earlier, and 24,800 vehicles in Thailand, up 36 percent.

It forecasts operating profit of 85 billion yen ($859 million) this financial year, compared with an average 106 billion yen estimated in a Thomson Reuters I/B/E/S survey of 12 analysts.

Ichihashi declined to comment on whether Hino will revise its operating profit forecast. ($1 = 98.9550 Japanese yen) (Reporting by Yoko Kubota and Kentaro Sugiyama; Editing by Christopher Cushing)