Honda hitting 2019 sales target

The car manufacturer continues to launch new models in the country, including the latest Accord.

Honda Cars Philippines Inc. (HCPI) reported on-target sales thus far this year despite barely changed numbers across the industry looking to sell at least 24,000 units this year.

According to HCPI sales division head and spokesperson Louie Soriano, among the drivers for the Japanese car manufacturer’s performance this year are the subcompact sedan Honda City, the compact SUV BR-V as well as the subcompact All-New Brio. The all-new Brio model, for one, has become Honda’s third top-selling brand since its launch in April this year.

Still, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association (CAMPI-TMA), Honda sold 13.8 percent less units in August this year, to 1,452 cars from 1,685 cars in the same month, 2018.

From January to August, the sixth largest Philippine car brand sold 13,086 units compared to 15,453 units in the same period in 2018, putting Honda’s year-to-date performance at a 15.3 percent decline.

Meanwhile, CAMPI-TMA’s member companies, which were among the largest in the industry, booked 2.4 percent lower car sales in the off-peak month of August, or equivalent to 29,599 units from 30,313 units in August 2018.

Nonetheless, the group posted a year-to-date recovery with sales increasing 2.44 percent to 235,544 units the January to August period from 229,941 units in the same period last year.

“Honda’s performance is okay. We are on par with our target. But in general, (the) auto industry is still flat. We are not seeing growth at this moment. Compared to two years ago, three years ago, that time we had around 10 percent growth. Compared to that period, the market is somewhat struggling,” HCPI president and general manager Noriyuki Takakura said at the sidelines of the launching of the All-New Accord in Makati on Tuesday, 24 September.

The report by CAMPI-TMA underscored expectations for further industry recovery in September until the last quarter of the year on the back of new car models as well as improved offers for car buyers.