Honda PHL sees at least 10% growth in 2015

December 8, 2014 5:58 am 

MANILA, Dec. 8 — The local arm of Honda in the Philippines, Honda Cars Philippines Inc. (HCPI), is more optimistic for 2015 as it sees at least 10 percent growth in its sales next year.

HCPI President and General Manager Toshio Kuwahara told reporters that the Tokyo-based automaker can grow its sales in the Philippine market by double digit next year after launching several new models this year.

Kuwahara, however, said that for end-2014, the company expects that its sales will match the 2013 sales or will only have slight increment.

HCPI ended 2013 with 13,365 units, in which Kuwahara stressed that the company may end in the same level this year or up to 13,500 units.

He said that in the first 11 months of the year, its total sales reached around 12,000 units.

He attributed the slow growth in sales for this year to decrement in production of its old models during the first quarter of the year, preparing for the introduction of new models.

Among its new car models this year include Accord, City, Civic, Jazz, CRV, Brio and Brio Amaze.

“We expect sales to normalize next year and all these new models will contribute to the growth next year,” the HCPI chief added.

Meanwhile, commenting on the Comprehensive Automotive Resurgence Strategy (CARS) program of the government, Kuwaha said that he preferred that the government will give direct incentives to buyers than giving perks to the auto firms if the country targets to stimulate the local auto industry.

He mentioned that the direct incentives to buyers — may be through eliminating or reducing value-added tax (VAT) in purchasing locally-made cars — can boost purchasing activities in the auto industry.

He also cited that this kind of incentive is successful in markets such as Japan, China, Indonesia, and Thailand.

“That is one way of stimulating the local industry. The government can provide incentives to customers for buying locally-made cars. This will lead to higher purchasing and will stimulate the industry for higher production,” Kuwahara said.

“If we have big market in the country, we will have larger production, and the more competitive cost, then we can start to export cars,” he added. (PNA)

FPV/KMC

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