AUTO INDUSTRY NEWS

Honda starts 2008 with PC & SUV dominance

Honda starts 2008 with PC & SUV dominance image

Text: / Photos: | posted February 27, 2008 00:00

Honda Cars Philippines Inc. (HCPI) started the year with a strong foundation. Registering a remarkable 65% increase over the same period in 2007, Honda was able to bolster its number two position in the entire automotive industry.

Honda led the passenger car (PC) segment in January with 35% market share, based on the report released by the Chamber of Automotive Manufacturers of the Philippines (CAMPI). HCPI generated 1,045 unit sales this month out of the total PC unit sales of 2,961.

Despite the 23% downtrend in the PC market as compared to December 2007 performance, Honda managed to post 19% growth to its advantage. Trend reports show that the industry normally experiences slump at the beginning of the year due to advanced demand in December when people take full advantage of aggressive year-end promotions. Honda proved its resilience as it led the PC segment to jumpstart the year. Essential in attaining PC dominance is Honda's icon model, the Civic, capturing 63% market share of the compact sedan class. With over 14,000 accumulated unit sales since its introduction in April 2006, the Civic has enjoyed undisputed category leadership and has earned numerous recognitions for its superior engine performance, promising fuel economy, dynamic styling and over-all value. No wonder, the Honda Civic emerged as one of the over-all top 3 best selling models in 2007.

Honda's other award-winning model, the CR-V, added significant contribution in sustaining its position with 431 unit sales. Capturing 25% share in its class, the CR-V transpired as the number one SUV in the market. The Honda CR-V's sedan-like ride and comfort, premium design, modern engine technology and advanced safety features distinguish itself from the other SUV's.

"Honda leading the passenger car category and the SUV class is truly a great start in welcoming 2008. We are all in high spirits as we look forward to continued favorable economic condition for the year ahead." Mr. Arnel Doria, HCPI's VP for Marketing said. With continued positive sales trend, Honda hopes to deliver significant contribution in attaining 125,000 year-end industry target.