Honda Malaysia has set a 95,000 unit sales target for 2024 and is aiming to capture 12.8% of the market share. This is nearly 19% higher than the 80,027 units the company managed to sell last year (which exceeded the 80,000 unit target set).
This is an interesting goal as the Malaysian Automotive Association (MAA) is predicting a 7.4% dip in sales for passenger vehicles for 2024 in the country. This is due to reasons such as the consumers’ concerns over targeted subsidy rationalisation, high cost of living, and higher service tax rates for vehicle repair and maintenance.
Honda Malaysia credits its positive sales number in 2023 to the introduction of its recent models such as the WR-V, City facelift and the and all-new CR-V. Building on its success, the Japanese carmaker is also planning to launch two new models in our market and is emphasizing its e:HEV hybrid technology.
Honda Malaysia Managing Director and Chief Executive Officer Mr Hironobu Yoshimura said, “2024 will continue to be a challenging year for the automotive industry. Nevertheless, Honda Malaysia remains committed to driving success to new heights this year, built on the back of our remarkable achievements in 2023. That includes our latest milestone of retaining the No.1 position in the Non-National Passenger Vehicle Segment for the tenth consecutive year since 2014. On top of that, we achieved last year’s sales target of 80,000 units despite the challenges in 2023. These remarkable achievements are attributable to the introductions of the WR-V, City and All-New CR-V, all of which garnered strong market acceptance upon their respective launches.”
“Further strengthening our presence in the market was the e:HEV technology, one the most practical and relevant technologies. Its popularity is evidenced by a 28% contribution to the 2023 overall hybrid sales in Malaysia, significantly propelling the growth of xEVs in the country. We would like to express our heartfelt gratitude to our customers, dealers and the Malaysian Government for their unwavering support and trust in the Honda brand,” Mr Youshimura continued.
RELATED: Honda CR-V: Close to 6,500 bookings received, 14% of sales from hybrid
Moving forward, Honda Malaysia will bring on stream a multitude of business activities to increase its sales momentum. This includes enhancing prospecting activities, expanding collaborative sales campaigns, and promoting the benefits of its comprehensive automotive Insurance plan – Honda Insurance Plus (HiP).
In addition, Honda Malaysia will continue emphasising its HondaTouch application. The app provides added convenience for customers to access vehicle service information, vehicle assistance, and updates.
To cater to the growing demand in the used car market, Honda Malaysia is also expanding the Honda Certified Used Car (HCUC) network to 32 sales hubs nationwide. A special campaign will be held at all 32 sales hubs from 16th March 2024 to 18th March 2024 to amplify awareness of this expansion. The campaign will feature various exciting activities and offer rebates worth up to RM1,000 for customers to enjoy.
Honda Malaysia also mentioned that on the after-sales services front, it remains committed to following through with the transformation and upgrades of Honda Service Centres to One-Stop Centres.
RELATED: MAA: 799,731 vehicles sold in Malaysia in 2023, 11% up from 2022
