Honda cuts sales forecast

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    Honda Cars Philippines Inc. said its sales this year will be aligned with those of the industry which are expected to decline 41 percent.

    “The industry has not been performing well. The latest data would show it has performed just 40 percent (from 2019),” said Louie Soriano, vice president for sales of HCPI at the virtual launch of the company’s 30th anniversary commemorative book.

    Soriano expressed confidence Honda would be able to shore up sales when it launches two new models this month “which would help us achieve the target for the year.

    “At the start of the year we have set the forecast but reduced it to a certain level,” said Soriano without revealing the numbers.

    HCPI sees opportunities in the hatchback market, and has seen its own Brio model increasing its share in this segment. The City remains the biggest contributor in HCPI’s sales.

    HCPI also officially introduced yesterday its new president Masahiko Nakamura who assumed office just last April 2020.

    HCPI will likewise have its very first virtual car launch on October 22, to unveil the two latest models in its lineup of vehicles in the country.