Honda eyes bigger market share with new City, CR-V models
HCPI president Masahiko Nakamura said the company is hopeful it could increase its share in the market through new offerings despite the pandemic.
STAR/File
Honda eyes bigger market share with new City, CR-V models
Louella Desiderio (The Philippine Star) - October 25, 2020 - 12:00am

MANILA, Philippines — Honda Cars Philippines Inc. (HCPI) is eyeing a bigger share in the passenger car (PC) and commercial vehicle (CV) segments with the launch of the new City sedan and the CR-V compact crossover models.

HCPI president Masahiko Nakamura said the company is hopeful it could increase its share in the market through new offerings despite the pandemic.

He said previous editions of the two vehicle models generated strong demand and sales in the local market.

Louie Soriano, sales division head and spokesperson at HCPI, said the firm targets to sell 8,000 units of the new City in a year.

“That target is enough for us to increase our market share and strengthen our presence in the PC segment,” he said.

He said HCPI is targeting young professionals looking for a sporty compact sedan with the advanced technology and safety features for the City.

For the CR-V, he said the firm has set an annual sales target of about 2,000 units.

He said the firm is looking at families and individuals who want a fuel efficient vehicle for the CR-V.

“I think this is an opportunity for those who would like to travel as a way of taking advantage of the opening of tourism. So, I encourage them to look for the City and see also the CR-V,” he said.

Both vehicle models were made available in HCPI’s 34 dealerships last Friday.

The City, available in six colors (ignite red metallic, platinum white pearl, modern steel metallic, taffeta white, lunar silver metallic and crystal black pearl), has a special introductory price of P838,000 to P1.048 million until the end of this year.

Meanwhile, the CR-V can be purchased in any of the following colors: cosmic blue metallic, ignite red metallic, platinum white pearl, and modern steel metallic at a price range of P1.678 million to P2.158 million.

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