Petaling Jaya, 31 July 2008 - Honda Malaysia Sdn. Bhd. today announced the company’s decision to adjust the sales target set for the year 2008 from 33,000 units to 35,000 units, in view of the positive performance it has accorded in the first half of the year.  The total number of units sold during the first six months stood at 16,769, against 14,177 units sold during the same period last year, representing an 18% increase. During this period, Honda’s market share was 6% (TIV).

Honda Malaysia Managing Director and Chief Executive Officer, Atsushi Fujimoto expressed confidence in meeting the increased target despite a challenging outlook for the second half based on Honda Malaysia’s earlier forecast of 520,000 TIV for the year.

Honda Malaysia attributed the good first half performance to the successful introduction of All-New Accord in April, and the continuing positive contributions from the City, Civic and CR-V models.  The Accord, which recorded a robust booking of more than 5,000 units in its first month, currently has a booking backlog of close to 3,000 units and is well on its way to exceed its set target of 7,200 units for the full year.

Fujimoto remarked that the fuel price hike in the first half of 2008 can work towards Honda’s advantage. “Currently, consumers are looking for cars that offer fuel efficient technology -- a feature that is well-associated with Honda cars.  As such, we believe Honda is in a strong position to cater to consumers’ current needs; and in view of this, we are optimistic that we will meet our increased target for the year.”

Corresponding to the increased sales target as well as growing demand for Honda passenger cars, Honda Malaysia will be increasing its local car assembly production from 30,000 to 35,000 units.  In comparison to the total units assembled in 2007, the production would have expanded by 10,000 units from 25,000 units last year.

Honda Malaysia took its commitment to make driving safe for customers further by extending the Honda Safety Driving Courses to customers, which saw the participation close to 300 drivers in the first half this year.

Despite challenging market situation ahead for automobile industry players, Honda Malaysia has set its mind and is determined on meeting the increased target of 35,000 units.  To this end, the company will be introducing more new products for the second half of this year, starting with the second generation Jazz in August.

To cater to increasing demand for sales and after-sales services, Honda Malaysia has already made plans to expand its dealership network nationwide.  As such, more Honda 3S Center will open in the states of Pahang, Penang, Perak, Johor, and Sarawak in the next five months.