Honda Cars Philippines Inc. (HCPI) expects another “record year” in sales in fiscal year 2016, from more than 21,700 units sold in fiscal 2015.
Toshio Kawahara, HCPI president, said the carmaker is banking on “higher sales” this year, considering last year’s volume was a 19-year record for Honda.
“We want to grow again for another more than 21,000 units.
“It depends on the economy. We anticipate the national elections. If the market is okay, at least we’ll be attaining the same volume as last year,” Kawahara told reporters.
Honda’s fiscal year is April to March.
City, the locally assembled model, will continue to drive sales.
It accounted for 40 percent of last-year’s sales, with more than 12,000 units produced of which 30 percent was from the Philippine factory.
Also on Tuesday, Honda launched its Civic Reborn model imported from Thailand. The new model comes in two variants: the 1.8 E priced at P1.08 million and the RS Turbo which for P1.39 million.
Kawahara said the carmaker envisions the new Civic accounting for 10 percent of total sales this year at more than 200 units compared with the previous volume of around 100 units per year.
Honda is the fifth best selling automotive brand in the Philippines, with a 7.5-percent share of the market as of end-February, next to Toyota Motor Philippines Corp. at 39.8 percent, Mitsubishi Motor Philippines Corp. (19.9 percent), Ford Motor Company Philippines Inc. (10.5 percent), and Isuzu Philippines Corp. (8.5 percent).