90,000 units target for Honda this year

honda media10march16-aSubang Jaya, 10 March 2016 – Honda Malaysia announced plans to launch 2 new CKD models and sell 90,000 units during the annual media gathering attended by just about the whole local media fraternity.

“2015 was a challenging year for the Malaysian Automotive Industry as we experienced economic slowdown due to the weakening of Malaysian Ringgit, Goods and Services Tax (GST) implementation and drop in oil price. The Total Industry Volume (TIV) in Malaysia was 666,674 units, almost flat from the previous year. Despite the tough and competitive market situation, we generated great results and 2015 became the most memorable year for Honda Malaysia,” said Yoichiro Ueno, managing director and chief executive officer, Honda Malaysia.

“For the first time, we successfully became No.1 in the Non-National Segment with record sales of 94,902 units that translates to 22% year-on-year growth capturing 14.2% market share. In December 2015, our sales reached an all-time monthly record of 10,741 units, the first time to reach 5 digits,” added Ueno.

Moving forward in 2016, Honda has set the sales target at 90,000 units. This is despite a forecasted decrease in TIV of around 4% to 5% or a total of 630,000 to 640,000 units for 2016 due to the economic pressures, fall in crude oil price and depreciation of the Malaysian Ringgit. Despite a drop in total TIV in the first two months of 2016, Honda would like to maintain this target to obtain a strong presence in Malaysia.

“We are targeting to increase to 95 dealers and 20 BP Centres, up from the current 87 and 14 respectively. We will also introduce 2S Satellite dealers to reach out to customers in sub-urban areas. We aim to provide professional after-sales services to all our customers regardless of the areas they live,” added Ueno.

With stronger commitment and innovations, Honda looks forward to realizing the joy of buying for its customers – by providing high quality products and excellent customer experiences.

In parting, Ueno said, “I would like to announce that I am taking on a new assignment as President and CEO of Honda Cars India Ltd. beginning 1st April 2016. Last year Honda Cars India sold over 200,000 units and India is the fourth biggest market for Honda, after USA, China and Japan. India is also one of the fastest growing markets in the world. I am excited with this new assignment to work in this new market.”



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