HONDA Cars Philippines, Inc. is expecting sales opportunities through its hatchback models while its overall sales decline remains consistent with the local industry.
Similar to other manufacturers, the car company said that it will not be reaching its sales forecasts set at the start of the year.
“Because of the pandemic, we have to reduce [the forecast] to a certain level. Basically, whatever is the forecast of the industry about the sales for this year, we are basically aligned with that,” Honda Philippines Vice-President for Sales Louie Soriano said in an online briefing on Thursday.
Local manufacturers expect a 41.5% sales decline in 2020, compared with the level last year.
However, Honda is seeing some growth opportunities for hatchback models.
“It’s still the City that has the biggest contribution to our sales, and looking at the industry, there is an opportunity for a growth in the hatchback. So, I think our Brio was able to contribute to the growth,” Mr. Soriano said.
“Basically, we were able to increase our market share in that hatchback market,” he added.
Honda sales in eight months to August declined 43.9% to 7,335 units, according to a report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA)
Earlier this year, Honda shut down its car production facility in Laguna.
The Department of Trade and Industry had said that it was considering placing safeguard measures on imported cars to protect local assembly. — Jenina P. Ibañez