After getting hit hard by the implementation of the new vehicle excise tax in 2018, Honda Cars Philippines President and General Manager Noriyuki Takakura reveals that the Japanese automaker believes that they’ve put the worst behind them.
“The Philippine Automotive Industry is now on its road to recovering from the impact of the excise tax implementation back in 2018,” says Takakura.
Honda’s brightest spot was also its most affordable model, the all-new Brio. Launched in April of this year, the Brio now holds a 19 percent share in the A-segment category. In fact, it current is the brand’s third best-selling model, just behind the City and BR-V.
Takakura credits this to the Brio’s sporty exterior, fuel engine, and affordable price. And to answer its continued popularity, he announced that HCPI is increasing their stock of the all-new Brio in order to reduce waiting time for customers.
Along with the strong performance of the Brio, Takakura says its BR-V and Civic are also performing strongly in their respective segments. The Civic, in particular, holds an astounding 55 percent market share in the compact car segment as of August.
Moving forward, Takakura says Honda Cars Philippines will continuously improve their product line-up to cater to the diverse needs of the Filipino customer.
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