Mar 10th , 2016

Honda Malaysia Targets To Sell 90,000 Units In 2016

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Subang Jaya, 10 March 2016 – Honda Malaysia Sdn. Bhd. (Honda Malaysia or the Company) today shared the Company’s performance for 2015 and announced its plans and strategies for 2016.

Speaking at the gathering, Managing Director and Chief Executive Officer of Honda Malaysia Mr. Yoichiro Ueno said, “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 at 666,674 units which was almost flat from the previous year. Despite the tough and competitive market situation, Honda could still generate great results and 2015 became the most memorable year for 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 Mr. Ueno.

Honda launched two SUV models in 2015. Both the CR-V and the HR-V were welcomed by Malaysian customers and were on the forefront of the SUV segments. There was also strong market demand for City and Jazz which contributed about 58% of total sales. Both models are currently still leading in their respective segments. Honda also successfully penetrated the East Malaysia region which contributed the highest sales growth of 36% compared to the previous year.

Moving forward in 2016, Honda has set the sales target at 90,000 units. This is despite a forecasted decrease in TIV of 5% or a total of 630,000 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.

In the pipeline to support the aggressive sales target are plans to launch 2 new Completely Knock-Down (CKD) models that are equipped with advanced features. Honda continues to be committed in offering products which provide great Value for Money as well as joy and inspiration to customers. “Our focus is to continue to achieve highest customer satisfaction by enhancing the Honda brand and creating excellent customer experiences. We will increase our dealerships and Body and Paint (BP) Centres to reach and serve more customers across the nation. 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 Mr. Ueno.

As for East Malaysia region, Honda will continue to invest and expand their presence to further penetrate the market. “In November 2015, we successfully opened our Regional Office in Kota Kinabalu to enhance and support the operation in East Malaysia. We will be opening a technical training centre in order to provide intensive trainings to improve the skills of service technicians,” said Mr. 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.

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