Honda PH sees recovery in 2012; launches new CR-V

Posted at 04/23/12 6:24 PM

MANILA, Philippines - Honda Cars Philippines Inc. (HCPI) expressed optimism it would recover from slumping sales in 2011, as it expects supply from Thailand to normalize.

In 2011, HCPI sales dropped 30 percent to 11,611 units, because of scarce supply after the Japan earthquake and tsunami and the flooding in Thailand.

Yuishi Fukuda, general manager for automotive business division of Asian Honda Motor Co. Ltd, said Honda Thailand resumed operations last March 26, and will soon start supplying automotive parts and components and completely built-up vehicles to the Philippines.

In March, HCPI said it posted its highest monthly sales in 20 months, selling 1,631 units.

"This shows the continuation of the turnaround of Honda, which started since February 2012. All of the new models of Honda enjoyed full month sales and healthy availability in March, which enabled us to be number one in the passenger car  segment for the month of March 2012," said Natsume.

HCPI resumed in February production of the City, the only model it assembles in the country. Now it is at full capacity, producing 40 units a day or about 900 per month.

The company also launched an all-new 4th generation CR-V. The new model combines the efficiency of a passenger car, the functionality of a mini-van, and the security and confidence of an SUV.

"With the launch of the all-new CR-V today, we have resumed supply for all of our models. However, our launch events do not end with the completion of our existing 5 model line-up. We are still not finished yet with our new model launches for this year," Natsume said.

Another model launch is set in June.