Honda maintains lead in non-national segment
Kuala Lumpur, 20 March 2019 – Honda Malaysia recorded a market share of 17.1% to keep the momentum as the No.1 car brand in the non-national segment for four consecutive years and maintained its No.2 position in overall Total Industry Volume (TIV) for three consecutive years.
“Honda Malaysia sold 102,282 units in 2018, a slight decrease of 6.6% against the 2017 sales result. Even so, it is encouraging to note that we managed to surpass the 100,000 unit-sold mark despite the uncertainties in the market. I would like to take this opportunity to express our gratitude to Honda customers for their trust and support towards Honda Malaysia,” said Toichi Ishiyama, managing director and CEO, during the annual media gathering last night.
In terms of sales performance by model, all 7 CKD models namely the Jazz, City, BR-V, HR-V, Civic, Accord and CR-V were segment leaders. The City has recorded the highest contribution, at 32% to the overall sales of Honda Malaysia. The Civic and CR-V were also strong players in their respective segments, recording 16% and 13% sales unit contribution.
Honda Malaysia has also chalked up 11% growth against the 2017 record in its after-sales service intake, making it the highest after-sales service intake in its history. This increase was complemented by another record in the sales of Honda Genuine Parts, which saw a jump of 25%.
Taking market insight into account, Honda Malaysia anticipated the TIV of 2019 at 580,000 units. Based on this TIV, Honda Malaysia has set its sales target for this year at 95,000 units, translating into 16% market share. In efforts to remain competitive in the challenging market, Honda Malaysia shared its business direction that is designed to help the company achieve its target and grow further in 2019.
The key strategies outlined to help Honda Malaysia maintain its leading position in the market namely, improvement of customer service standard, strengthen dealership network and introduction of new models
In light of its 2018 performance, Honda Malaysia is optimistic that the strategic business direction this year will be a stepping stone for the company to meet its 2019 target and go above and beyond customers’ satisfaction.