HONDA CARS Philippines, Inc. (HCPI) said it plans to introduce more hybrid electric vehicle (HEV) models in the coming years as it expects demand for hybrids to grow, although the company remains cautious about the pace of electrification due to infrastructure limitations in the Philippines.
“We will introduce our next-generation hybrid models in the coming years,” HCPI President Hidekazu Arai told reporters on the sidelines of a press briefing for the upcoming 10th Philippine International Motor Show on Wednesday.
Mr. Arai said the company sees continued growth potential for hybrid vehicles in the local market, but noted that infrastructure readiness and consumer demand remain key considerations for automakers.
“Electrification is important for the future, but we need to think about the real customer demand and infrastructure,” he said.
“I think we would like to move step-by-step and to adapt to the customers’ real needs,” he added.
HCPI has launched four HEV models in the Philippine market — the CR-V RS e:HEV, Civic RS e:HEV, HR-V RS e:HEV, and Prelude.
Hybrid electric vehicles accounted for 72.73% of total electric vehicle (EV) sales as of end-March, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).
During the period, HEV sales rose by 9.9% to 8,261 units from 7,515 units a year earlier.
The company also said it has no plans to raise vehicle prices for now despite rising fuel prices and softer market demand.
“Gas prices are increasing, and I understand that demand is getting softer, but we don’t want to compete price alone,” Mr. Arai said.
“We would like to enhance the total value, including customer service after-sales,” he added.
Mr. Arai, 41, was appointed HCPI president on April 1, becoming the youngest top executive to lead the company.
“I see my age as a strength, because I bring a long-term viewpoint,” he said.
“My top priority is to listen to the voices of customers, departments and our dealers.”
HCPI ranked fifth in total vehicle sales as of end-March despite a 5.2% decline in sales to 3,968 units, according to the CAMPI-TMA report. — Beatriz Marie D. Cruz
